Windhoek, Namibia: Namibia, the world's sixth largest producer of rough diamonds, has said it is ready to grant licences to Indian firms for trading in the precious stone.

Namibian Prime Minister Nahas Angula informed visiting Minister of State for Commerce Jairam Ramesh that his government would extend a major concession to the Indian companies for setting up operations in Namibia for trading in diamonds.

Encouraged by a friendly business environment, Diamond India Ltd, a company founded by the Gems and Jewellery Export Promotion Council (GJEPC), proposes to set up a cutting and polishing facility in Namibia, Ramesh told newspersons after his meeting with Angula.

He said the two countries would consider setting up a joint task force to explore the possibility of a long-term and direct partnership in diamond trading.

"India would like to have a formal agreement with Namibia to undertake value addition in diamond processing," Ramesh said. He said India is keen to develop a long-term partnership with Namibia in diamonds, including in the field of mining, sorting, grading, cutting, polishing and jewellery manufacturing.

The two governments can set up a working group for looking into the details of the collaborations, he said, adding that the group would finalise its report within the next two months.

India is a major buyer of rough diamonds from Namibia and Angola where Ramesh is leading a delegation of trading firms including members of the GJEPC, State Trading Corporation and MMTC Ltd.
Source : PTI