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In Panna, Madhya Pradesh, Savitri Sisodia uncovered a 2.69 carat diamond; now set for auction. Verified by officials, this find promises new financial prospects after government dues.

Rare Diamond Found in Panna, Auction Bound

Discover how Savitri Sisodia's probing efforts rewarded her with a 2.69 carat diamond in Panna. Set for auction, this valuable stone could transform her financial future, underscoring potential in local diamond searches.

Savitri Sisodia from Panna, Madhya Pradesh, unearthed a 2.69 carat diamond, poised for auction. The auction, affirmed by Diamond Officer Anupam Singh, promises financial relief after necessary deductions.

A woman has found a 2.69 carat raw diamond in a mine in Madhya Pradesh's Panna district, which will now be put on auction and could fetch several lakh rupees, officials said on Monday.
Savitri Sisodia said she had been toiling for the past two years to find a diamond in a private mine in Chopra area unmindful of the scorching sun, dust and grime, adding that she firmly believed this stroke of luck would change her fortunes and that of her family.
This is a priceless gift of nature, she added.
Diamond Officer Anupam Singh, who inspected the stone and deposited it, said it would be put up for auction as per laid down rules.
"The amount received from the auction will be handed over to the woman after deducting government royalty and taxes," Singh said.

The world's second largest diamond has been discovered in Africa's Botswana. The 2,492-carat diamond was discovered in the Karowe Diamond Mine using x-ray detection technology by a Canadian mining company. Pictures released by the firm show the diamo

 World's second largest diamond found in Africa using X-ray

The world's second largest diamond has been discovered in Africa's Botswana. The 2,492-carat diamond was discovered in the Karowe Diamond Mine using x-ray detection technology by a Canadian mining company. Pictures released by the firm show the diamond is as large as the palm of a hand. The company did not give a value for the find or mention its quality. But the stone is second only to the 3,016-carat Cullinan Diamond discovered in South Africa in 1905. Botswana is one of the world's largest producers of diamonds which is its main source of income.

The world's second largest diamond has been discovered in Africa's Botswana. The 2,492-carat diamond was discovered in the Karowe Diamond Mine using x-ray detection technology by a Canadian mining company.&nbsp;

The world's second largest diamond has been discovered in Africa's Botswana. The 2,492-carat diamond was discovered in the Karowe Diamond Mine using x-ray detection technology by a Canadian mining company.
Pictures released by the firm show the diamond is as large as the palm of a hand. The company did not give a value for the find or mention its quality.
But the stone is second only to the 3,016-carat Cullinan Diamond discovered in South Africa in 1905. Botswana is one of the world's largest producers of diamonds which is its main source of income.
Also Watch: <a href="https://www.editorji.com/world-news/smuggler-disguised-meth-worth-5-mn-as-watermelons-held-at-us-mexico-border-1724407172315">Smuggler Disguised Meth Worth $5 Mn As Watermelons, Held At US-Mexico Border</a>

The recent announcement by the G-7 detailed a step-by-step ban. Starting January 1st, it will first stop direct imports of Russian rough diamonds. By March 1st, this ban will extend to cover Russian diamonds processed in third-party nations.

G-7 imposes ban on Russian diamond imports, implements traceability system

The recent announcement by the G-7 detailed a step-by-step ban. Starting January 1st, it will first stop direct imports of Russian rough diamonds. By March 1st, this ban will extend to cover Russian diamonds processed in third-party nations.

The Group of Seven (G-7) has unanimously decided to impose a ban on Russian diamond imports as a&nbsp; measure to curtail Russia's financial resources fueling the ongoing conflict in Ukraine. This embargo, slated to commence from the outset of the upcoming year, is intended to tighten the economic noose around Russia amid the ongoing conflict.
Efforts by the G-7 and its European counterparts have been relentless in seeking effective means to limit Russia's financial capabilities in sustaining its military endeavors in Ukraine. Diamonds, however, posed a challenge in previous attempts to impose sanctions due to resistance from major importer nations such as Belgium. These nations argued that a straightforward ban could potentially redirect the highly profitable gem trade elsewhere.
The G-7's recent announcement outlined a phased approach to the ban. It will initially halt all direct imports of rough diamonds from Russia starting January 1st. The prohibition will extend to encompass Russian diamonds processed in third-party countries from March 1st. Additionally, a comprehensive traceability system is set to be fully implemented by the commencement of September.
In the background, the diamond industry has actively engaged in lobbying G-7 decision-makers, advocating for specific methods to trace diamonds. Belgium proposed a system requiring all diamonds to pass through Antwerp, historically a dominant global trading hub, for registration on a digital ledger before distribution to other major trade centers.
This proposal faced significant opposition from diamond-producing nations and industry leaders, who deemed it impractical and potentially harmful to the trade. They suggested enhancing existing models of origin certification instead.
Belgium's Prime Minister, Alexander De Crew, expressed support for the G-7's tracing system, hailing it as a crucial step in reducing financial flows from the diamond trade to Russia. The challenge in tracking a diamond's origin arises once it obtains certification under the Kimberley Process, designed to eliminate the sale of conflict diamonds. Subsequently, the tracing becomes convoluted, making the stones challenging to monitor through the supply chain.&nbsp;
Moving forward, the G-7 intends to collaborate with diamond-producing and manufacturing nations to devise and implement an effective tracing system that ensures transparency throughout the diamond trade. Also Watch:<a href="https://www.editorji.com/business-news/india-refuses-to-comply-with-russia-s-pressure-to-buy-oil-in-chinese-yuan-1697785357742#google_vignette"> India refuses to comply with Russia's pressure to buy oil in Chinese Yuan</a>

SDB's monumental complex, costing ₹3,400 crore, is set to transform Surat into a global diamond trading hub, attracting thousands of companies and reshaping the nation's economic landscape

Billionaire Vallabhbhai Lakhani moves ₹17,000-crore diamond business away from Mumbai to Surat

<h2>SDB's monumental complex, costing ₹3,400 crore, is set to transform Surat into a global diamond trading hub, attracting thousands of companies and reshaping the nation's economic landscape</h2>

Billionaire diamond trader Vallabhbhai Lakhani, Director of Kiran Gems, makes a historic move by relocating his ₹17,000-crore business from Mumbai to the upcoming Surat Diamond Bourse (SDB). This strategic shift marks a significant turning point in the nation's diamond trading landscape.
The Surat Diamond Bourse, a monumental structure standing as the world's largest office building, has become a magnet for diamond traders and merchants across Maharashtra and Gujarat. With a staggering cost of ₹3,400 crore, this STRUCTURE spans 67 lakh square feet, dwarfing even the Pentagon in size. Currently housing nearly 4,500 diamond companies, the complex comprises nine interconnected towers, each HAVING 15 floors.
This migration of diamond giants from Mumbai to Surat is poised to impact Maharashtra's tax revenue significantly, with nearly 1,000 offices of diamond companies expected to shift operations. The move signals a paradigm shift in the diamond industry, with Surat aiming to dethrone Mumbai as the country's diamond trading hub.
Vallabhbhai Lakhani's decision to move his business to Surat is not merely a relocation; it's a comprehensive endeavour. He has established a mini-township in Surat, comprising 1,200 apartments, to accommodate the families of his 2,500 employees. Basic civic amenities have been meticulously arranged, ensuring a smooth transition for his workforce.
The SDB's inauguration, slated for December, is anticipated to usher in a new era for Surat, boosting not only the diamond industry but also the city's real estate sector. Surat's rise as a global diamond trading hub is imminent, with the promise of international flights from the city, transforming it into a global business destination. As the countdown to the grand inauguration begins, Surat's ascent to becoming the diamond capital of the world is on the horizon. Also Watch: <a href="https://www.editorji.com/business-news/inside-pictures-of-surat-diamond-bourse-the-world-s-largest-office-1689761758882">Inside pictures of Surat diamond bourse, the world's largest office</a>

India's cut and polished diamond export declined due to the inconsistent supply of raw diamond from Russia and a weak economy in China and U.S. 

India reports 10% fall in cut and polished diamond exports in FY23

India's cut and polished diamond export declined due to the inconsistent supply of raw diamond from Russia and a weak economy in China and U.S.&nbsp;

As per a report by Gem &amp; Jewellery Export Promotion Council, India's diamond exporters are looking at a dull year as demand from China and the U.S. remains weak. U.S and China are the main markets for India.
India, reported a 10% decline in cut and polished diamond exports to $22 billion in FY23. This, due to the inconsistent supply of raw diamond by Russia and a softer demand in key global markets.
"It is going to be a difficult year. Elevated inflationary pressures in the US, China&rsquo;s slower-than-expected recovery after pandemic restrictions lifted, and volatile gold prices will make it tough and challenging for Indian diamond merchants", said Vipul Shah, Chairman of the Gem &amp; Jewellery Export Promotion Council in an interview to Bloomberg.
Vipul Shah also said that the council has spoken to the Indian government to resolve a payment issue with regard to procuring rough-gem supplies from Russia. However, as per Shah, the slowdown in US economy and consumer demand remains a major challenge.
&nbsp;

Sixth time lucky in two years. A farmer in Panna district of Madhya Pradesh has mined a high quality diamond weighing 6.47 carat in a land taken on lease from the government.
The farmer, Prakash Majumdar, found this diamond from a mine in Jaruapur village in the district on Friday, officials said.
Officials said that the raw diamond would be auctioned and the proceeds would be given to the farmer after deduction of government royalty and taxes.
As per the private estimates, the 6.47 carat diamond is likely to fetch around ₹ 30 lakh in the auction.
Majumdar said that he will share the amount received from the auction with his four partners engaged in quarrying the mine.
He said that he had found a 7.44 carat diamond last year. Besides, he had also mined four other precious stones weighing 2 to 2.5 carat in the past two years.
Panna district is estimated to have diamond reserves of 12 lakh carats. The state government gives small patches of land on lease in Panna diamond reserve area to local farmers and labourers to mine diamonds and deposit them with the district mining officer.

Farmer mines ₹30 lakh diamond in MP, it's his sixth prize catch

MP farmer hits 6th jackpot, mines ₹30 lakh diamond in MP's&nbsp;Panna

MP farmer hits 6th jackpot, mines ₹30 lakh diamond in MP

MP farmer hits 6th jackpot, mines ₹30 lakh diamond in MP
6.47 carat diamond mined from a land taken on lease from government
Diamond to be auctioned, likely to fetch ₹30 lakh: officials
Earlier found a 7.44 carat diamond last year, 4 other stones&nbsp;in two years
Panna district is estimated to have diamond reserves of 12 lakh carats
&nbsp;

Sixth time lucky in two years. A farmer in Panna district of Madhya Pradesh has mined a high quality diamond weighing 6.47 carat in a land taken on lease from the government.

Sixth time lucky in two years. A farmer in Panna district of Madhya Pradesh has mined a high quality diamond weighing 6.47 carat in a land taken on lease from the government.
The farmer, Prakash Majumdar, found this diamond from a mine in Jaruapur village in the district on Friday, officials said.
Officials said that the raw diamond would be auctioned and the proceeds would be given to the farmer after deduction of government royalty and taxes.
As per the private estimates, the 6.47 carat diamond is likely to fetch around ₹ 30 lakh in the auction.
Majumdar said that he will share the amount received from the auction with his four partners engaged in quarrying the mine.
He said that he had found a 7.44 carat diamond last year. Besides, he had also mined four other precious stones weighing 2 to 2.5 carat in the past two years.
Panna district is estimated to have diamond reserves of 12 lakh carats. The state government gives small patches of land on lease in Panna diamond reserve area to local farmers and labourers to mine diamonds and deposit them with the district mining officer.

Botswanan diamond firm Debswana on Wednesday said, a 1,098-carat diamond had been unearthed and that it was the third largest of its kind in the world.
The firm also said it was the biggest stone of gem quality to be recovered in the history of the company, which is a joint venture between the Botswana government and global diamond giant De Beers.
The biggest diamond ever discovered in the world was the 3,106-carat Cullinan, found in South Africa in 1905.
The second largest was 1,109-carat Lesedi La Rona -- a diamond the size of a tennis ball, discovered at Karowe, northeastern Botswana, in 2015.

World's 'third largest' diamond weighing 1,098-carat found in Botswana

1,098-carat gem unearthed in Botswana by diamond firm Debswana
Third largest diamond in the world, biggest one&nbsp;found by company
The world's biggest diamond ever was&nbsp;found in South Africa in 1905
2nd&nbsp;largest was a 1,109-carat&nbsp;diamond, discovered at Botswana, in 2015

Botswanan diamond firm Debswana on Wednesday said, a 1,098-carat diamond had been unearthed and that it was the third largest of its kind in the world.
The firm also said it was the biggest stone of gem quality to be recovered in the history of the company, which is a joint venture between the Botswana government and global diamond giant De Beers.
The biggest diamond ever discovered in the world was the 3,106-carat Cullinan, found in South Africa in 1905.
The second largest was 1,109-carat Lesedi La Rona -- a diamond the size of a tennis ball, discovered at Karowe, northeastern Botswana, in 2015.

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