DIAMONDS

Diamonds have been a source of fascination for

centuries. They are the hardest, most imperishable, and
the brilliant of all precious stones. Diamond is a mineral a
naturally crystalline substance the transparent form of
pure carbon. It is indomitable, the hardest surface known.
This King of Gems symbolizes purity and strength.
Diamond is for engagement and the 75th wedding
anniversary, for a commitment to never ending love. The
word diamond comes from the Greek word adamas,
meaning unconquerable.
The formation of these exotic diamonds began very
early in the earths history. After being formed in the
interiors of the earth, the diamonds were shot to the
surface by extraordinary volcanoes. A diamond is likely
the oldest thing you will ever own, probably 3 billion
years in age, fully two thirds the age of the Earth.
Out of every batch of 10 diamonds made in the world,
7.5 are made in India. It shows that India has established
itself as the world's largest diamond processing center. In
India, the diamond processing units are mainly located in
Gujarat, particularly in Surat, Navsari and some parts of
Saurashtra & north Gujarat region. About 80% of
country's diamond processing work is being done in
Gujarat, out of which more than 50% is conducted at Surat
only. The diamond processing industry in India, thus, is
quite unique as it is developed at one location in an
industrial cluster. Surat city is known as diamond city
of India.
The Industry comprises of about 2000 units of cutting
& polishing out of which about one third are located in
Surat. It employs about 15 lakh people directly and
provides employment opportunities to more than 25 lakh
people. Their wage bill comes to Rs. 1500 crore per annum.

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An investment of Rs. 5 crore in this sector creates an

employment for 1000 people. The industry is, thus, a
major employer.
The processing capacity of each unit ranges from 4 to 400
carats, while production capacity depends on the type,
shape and size of the diamond; it also depends on the skill
of the workers.
There are about 7000 different types of diamonds. The
processing is done through ingeniously manufactured and
manually operated machines.

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HISTORY OF DIAMONDS
From myths about valleys of diamonds protected by
snakes, to the production of millions of carats in rough
diamonds each year, the history of diamonds is one of
mystical power, beauty and commercial expertise. The
stages in the history of diamonds are as follows:-

EARLY HISTORY
The first recorded history of the diamond dates back
some 3,000 years to India, where it is likely that
diamonds were first valued for their ability to refract
light. In those days, the diamond was used in two waysfor decorative purposes, and as a talisman to ward off
evil or provide protection in battle.

DARK AGES
The diamond was also used for some time as medical
aid. One anecdote, written during the Dark Ages by St
Hildegarde, relates how a diamond held in the hand
while making a sign of the cross would heal wounds and
cure illnesses. Diamonds were also ingested in hope of
curing sickness.

MIDDLE AGES
During the Middle Ages more attention was paid to the
worth of diamonds, rather than the mystical powers
surrounding them. The popularity of diamonds surged
during the Middle Ages, with the discovery of many
large and famous stones in India, such as the Kohinoor
and the Blue Hope. Today India maintains the foremost
diamond polishing industry in the world.

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RECENT TIMES
During the mid-nineteenth century, diamonds were also
being discovered in eastern Australia. However, it was
not until late 1970's, after seven years of earnest
searching, that Australia's alleged potential as a
diamond producer was validated. On October 2nd 1979,
geologists found the Argyle pipe near Lake Argyle: the
richest diamond deposit in the world. Since then, Argyle
has become the world's largest volume producer of
diamonds, and alone is responsible for producing over a
third of the world's diamonds every year.

COMPOSITION
Diamond is carbon in its most concentrated form.
Except for trace impurities like boron and nitrogen,
diamond is composed solely of carbon, the chemical
element that is fundamental to all life.
But diamond is distinctly different from its close
cousins the common mineral graphite and lonsdaleite,
both of which are also composed of carbon. Why is
diamond the hardest surface known while graphite is
exceedingly soft? Why is diamond transparent while
graphite is opaque and metallic black? What is it that
makes diamond so unique?
The key to these questions lie in a diamonds particular
arrangement of carbon atoms or its crystal structurethe feature that defines any minerals fundamental
properties. A crystal is a solid body formed from the
bonding of atomic elements or compounds in a
repeating arrangement.

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CUT
The cut of a diamond refers to its proportions. Of the 4Cs
the cut is the aspect most directly influenced by man. The
other 3 are dictated by nature.
A diamond in its natural, uncut state is described as a
"rough diamond". Its natural appearance so resembles a
glass pebble that most people would pass it by without a
second glance. It is the skill of the diamond cutter that
unlocks the brilliance for which diamonds are renowned.
If two identical diamonds are placed side by side and one
is less brilliant and fiery than the other, the fault lies in the
cutting. Such a stone cannot demand as high a price as a
well-cut diamond.
Quite often the cut of a diamond is confused with its shape.
Diamonds are cut into various shapes depending upon the
original form. Whatever the shape, a well cut diamond is
better able to reflect light.
A diamonds ability to reflect light determines its display
of fire and brilliance. Diamonds are usually cut with 58
facets, or separate flat surfaces. These facets follow a
mathematical formula and are placed at precise angles in
relation to each other. This relationship is designed to
maximize the amount of light reflected through the
diamond and to increase its beauty.

Types of Cuts
Well Cut: When a diamond is cut to proper
proportions, light is reflected from one facet to
another and then dispersed through the top of the
stone. Within the well cut standards are the subcategories of Ideal, Excellent &Very good.

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Deep Cut: Then the cut of a diamond is too deep

some light escapes through the opposite side of the
pavilion.

Shallow Cut: When the cut of a diamond is too

shallow, light escapes through the pavilion before it
can be reflected.

How Do I Know If a Diamond Is

Well Cut?
A well cut diamond is the secret to a beautiful and brilliant
diamond. Like beauty itself, the true meaning if well cut
is often found in the eye of the beholder. While you may
prefer a particular set of proportions, someone else might
prefer slightly different proportions. Personal preference
even among experts will always be an issue in defining the
best cut.

KINDS OF DIAMONDS
Ideal: This range is very strict and combines the best in
brilliance and fire. Technically, the head of the class.

Excellent: This range is also of great beauty yet slightly

more flexible regarding percentages. Many experts prefer
the appearance of this range to ideal.

Very Good: This range is balanced between precise

proportions and price considerations. Viewed by many as
the best overall value in beauty and price.
Think of Ideal, Excellent and Very good as rings in a bulls
eye. These classifications for cut represent an acceptable
range for that category. The ranges narrow as you move
toward Ideal at the center. Ideal has the narrowest range,

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with excellent slightly larger and Very Good the largest.

All three of these categories fall within the well cut
classification. In many cases the visual differences from
one classification to the next are so small they may be
indiscernible to the naked eye.
The cut, or proportions, of a diamond is measured in
percentages relative to the diameter of its girdle. The
girdle diameter of each diamond is always considered
100%.

Example: The girdle of a diamond measures 10

millimeters (100%) the table measures 5.6 millimeters. The

total depth measurement is 6.1 millimeters. The diamond
would be described as having a table of 56% and a depth of
61%. The table and the depth are the key to determining
good proportions.

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COLOR
Our standard conception of diamond is as a colorless
stone. The best color is no color. Diamonds allow light to
be reflected and dispersed as a rainbow of color.
Diamonds are graded into categories defined by letters
from D to Z. The color range from exceptional whites
(categories D, E and F) to tinted colors (categories M to Z).
The best way to pinpoint a diamond's true color is to place
it next to another diamond that has previously been
graded.
It is often surprising to learn that diamonds also occur by
rare accidents of nature in shades of pink, blue, green,
amber, or even red. These rarely occurring colors are
referred to as fancies and are evaluated by a different set
of color standards. These standards take into
consideration various factors such as hue and saturation.
Fancy colored diamonds are the most expensive because of
their extreme rarity. Some fancy colors can cost hundreds
of thousands of dollars for diamonds of one carat or less!
Chemically-pure, a perfect crystal of diamond is colorless,
but adds a little nitrogen and yellow appears. Add boron
instead and a blue diamond results. Colored diamonds are
hot, both in the market place and in science.

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CLARITY
Almost all diamonds contain very tiny natural birthmarks
known as inclusions. To determine diamonds clarity, an
expert views it under 10 power magnifications. In addition
to internal inclusions, surface irregularities are referred
to as blemishes. These two categories of imperfectionsinclusions (internal) and blemishes (external) - make up
clarity. The fewer the imperfections, the rarer and more
valuable the diamond. Many inclusions are not
discernable to the naked eye and require magnification to
become apparent.
Contrary to the popular belief, higher clarity does not
always mean more beautiful. If the inclusions are not
visible to the naked eye, a higher clarity does not really
improve the appearance of a diamond but rather the
rarity and price. A higher clarity is more desirable and
valuable.
Like color, clarity is also categorized using international
grading. Clarity is graded using a very precise and
complex method of evaluating the size, location, and
visibility of inclusions.
Alongside is the technical clarity scale with a description
of each term.

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CARAT WEIGHT
A carat is the unit of measure used to determine the weight
of a diamond. The term "carat" is derived from the
original method of using carob tree seeds to weigh
diamonds. One seed from this tree was equivalent to one
carat.
The actual weight of one carat is now established at 0.2
grams. To assist in accurately describing the weight of
diamonds each carat is divided into 100 points. Diamonds
of less than one carat in weight are known as "pointers".
For example, a 0.15-carat diamond would be called a "15
pointer".
Diamonds are usually weighed prior to setting for more
accurate measurements. Diamonds are priced per carat,
according to their size and quality. Although the carat
weight of a diamond is indicative of its size, it is not
necessarily indicative of a diamond's quality. Therefore,
where two diamonds have the same carat weight, the one
of better quality will command a higher price per carat.

How rarity affects size?

The rarity of a diamond is greatly affected by its size. The
rarity of a 1.00-carat diamond is much greater than twice
that of a .50 carat. Although it only weighs twice as much,
the 1.00 carat is statistically much more difficult (rare) to
mine than the .50 carat. For an easy comparison of price
and size, see the table alongside. Prices are approximate
and based upon D Color, internally flawless, excellent cut.

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SHAPES
Diamonds are cut in many different and exciting shapes.
The shape of a diamond is often confused with its cut.
Shape refers to the basic form of the diamond: oval or pear
shaped, for instance. Cut or proportions, on the other
hand, refer to the ability of each of these shapes to reflect
light. A round diamond, for example, could have a good
cut or a poor cut depending upon its proportions. When it
comes to shape, it is simply a matter of personal taste. The
right shape for you is really the one whose appearance
you prefer. Shape can be a statement of whom you are;
like other areas of fashion, shape can reflect your
individuality. The most popular shapes are displayed
here, but many new and interesting shapes are being
developed every year.

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TYPES OF DIAMONDS
Synthetic Diamonds
Synthetic diamonds are artificial diamonds that have been
created in a laboratory. By varying the heat and pressure
during formation, adding foreign elements, and
irradiating the finished crystals, synthetic diamonds can
be made to imitate natural colored stones. There is
currently a wide spectrum of synthetic colored diamonds
available.
The main difference between naturally-formed diamonds
and synthetic diamonds is that synthetic diamonds
usually have higher concentrations of impurities, such as
nitrogen, and remnants of metal catalyst. This means they
are often yellow- or brown-colored, which is why they
aren't used as gems but as cutting tools. But some
synthetic diamonds can now be made so pure that they are
virtually indistinguishable from natural stones. There are
some sophisticated ways to tell them apart; using optical
spectroscopy and X-rays, but it's difficult. In fact, the
diamond gem company, de Beers, have a company called
the 'gem defense league' whose job it is to look at all the
new high quality synthetic diamonds being produced, and
devise ways to tell them apart from natural stones.

Treated Diamonds
Treated diamonds are natural diamonds that started out
with an unappealing or slightly off color. By exposing
these less desirable stones to the same high-tech alchemy
used to create synthetic colored diamonds, the apparent
color and appearance of these diamonds can be
significantly improved. Recently we have seen treated
diamonds with vibrant yellowish green, red and blue
colors enter the market.

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Natural fancy color diamonds are significantly more

valuable and rarer than comparable treated or synthetic
stones. Although treated and synthetic diamonds can be
beautiful in their own right, the origin of their color
should be fully disclosed by the seller. They should also
cost significantly less than natural diamonds. Ethical
practice and the law require that synthetic gemstones and
treatments be fully disclosed to consumers.
Unfortunately, this does not always happen. As
always, be careful!

Natural Fancy Color Diamonds

Natural fancy color diamonds are significantly more
valuable and rarer than comparable treated or synthetic
stones. Although treated and synthetic diamonds can be
beautiful in their own right, the origin of their color
should be fully disclosed by the seller. They should also
cost significantly less than natural diamonds. Ethical
practice and the law require that synthetic gemstones and
treatments be fully disclosed to consumers.
Unfortunately, this does not always happen. As
always, be careful!

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DIAMOND BUYING TIPS

Ask the jeweler to clean the diamond . Cleaning is best
done by steaming or by ultrasonic cleaner
View the diamond against a white background . Use a
diamond grading trough or a pure white business card to
view the diamond against. Tilt the diamond and look at it
from the side under a daylight fluorescent light if possible.
Look for a yellow tint - the best diamonds are colorless like
an ice cube.
Get all facts on the bill of sale. Make sure all pertinent
facts - carat weight, color grade, clarity grade, cut, and
exact dimensions are put on the bill of sale.
Verify facts with a gemologist. If the diamond is one
carat or larger, it should be accompanied by a laboratory
report. If not, make the sale contingent on verification of
the facts by a qualified gemologist or testing lab.
Decide what is important to you. Most diamond
purchases are a compromise. Decide if size (weight), color
or cut is more important to you. Know what you are
getting and then get what you pay for!

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Strengths:
One million craftsmen associated with it. their skills
can be harnessed for designing and making modern
jewellery
Abundance of cheap and skilled labor in India.
Excellent marketing network spread across the
world.
Supportive government industrial/ exim policy.

Weaknesses:
High domestic interest rates compared to elsewhere
Small firms lacking technological/ export
information expertise.
Low productivity compared to labor in china,
Thailand and Sri Lanka.
As the major raw material requirements need to be
imported, companies normally stock huge quantities
of inventory resulting high inventory carrying costs.

Opportunities:

New markets in Europe & Latin America

Growing demand in south Asian & Far East
countries.
Removal gold control act.

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Threats:

China, Sri Lanka and Thailand's entry in small

diamond segment
Infrastructural bottlenecks, frequent changes in exim
policies, irregular supply of gold.
Over dependence on single-channel supply chain.
Decisions of De Beers and Argyle's terms for
renewing their supply contract.

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IMPORT
INDIAN ROUGH IMPORTS UP NEARLY 60%
December 16, 2003
Rough diamond imports to India during November 2003
were 15,653,000, worth US$563.9 million, marking an
increase of 57.33 percent in terms of carats over the
previous November, and 59.29 percent in terms of dollars.
Rough exports increased by over 500 percent in dollar
terms diamonds worth US$70.8 million were exported in
November 2003 as compared to exports worth just US$11.4
million in November 2002.
Polished diamond exports from India in October 2003
decreased by 16.5 percent as compared to the previous
November in terms of carats, while in terms of dollars,
such exports increased by 28.39 percent.

Net
Imports
of Rough
diamonds
Net
Exports of
Rough
diamonds
Polished

Carat
s
15,65
3,00
0

Carats

Carat
s
57.33

563,890,0
00

9,949,00
0

354,010,00
0

3,385
,000

70,790,00
0

1,947,00
0

11,380,000

73.86

522.0
6

2,403
,000

516,800,00
0

2,878,00
0

402,530,0
00

-16.5

28.39

59.29

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EXPORT
India's Exports of Cut & Polished Diamonds to Major
Markets
(In Rs crore)
COUNTRY 1997-98
USA
6050.84
Hong Kong 4056.88
Belgium
2881.0
Japan
1155.64
Israel
764.06
Thailand
324.41
Switzerland 268.89
UAE
193.04
Singapore 231.53
Germany
120.93
UK
80.74
Australia
58.2
Others
397.38
Gross
16583.54
Exports
Net export 16579.45

1998-99
7972.56
5114.65
3651.02
1450.21
1016.01
401.74
408.51
263.12
269.79
158.88
146.45
84.85
137.53

1999-2000
10546.51
7790.0
3955.01
1955.72
1588.85
698.66
474.09
583.24
424.17
185.6
153.82
106.95
245.76

2000-01
9702.33
7570.26
4122.97
1700.16
1213.92
815.21
501.56
1180.49
462.23
163.15
179.47
102.75
328.91

21075.32

28708.38

28043.41

21074.12

28706.51

28041.8

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India's position in cut and

polished diamonds exports vis-vis competition countries
(In US$ million)
COUNTRIES
Israel
Belgium
India

2741.03
656.00
5259.96

2820.00
803.00
6354.46

2.88
22.41
20.81

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For over 115 years DeBeers Diamond Trading Company

has been synonymous with diamonds and has practically
monopolized the diamond industry. The company leads
the world in diamond exploration, mining, recovery,
sorting, valuation and marketing. They force out any and
all competition by ruthlessly controlling the diamond
supply. They have access to all the trade-ways, use cheap
labor, and they are not afraid of making a few under the
table threats if it means scaring somebody out of trying to
take a piece of their pie.
Through its selling arm, the Diamond Trading Company
(DTC) based in London, De Beers markets some two thirds
of global supply, and has conducted a renowned diamond
advertising and promotion campaign for over half a
century. The company is currently committed to exploring
ways to exploit the value of its brand.

CASE STUDY 1
Diamonds are one of the biggest scams ever perpetrated
on the American public. They're incredibly common -- if
there were a real free market for diamonds, they would be
worth a few dollars each. But virtually every diamond in
the world is sold by ONE company -- De Beers. It's not just
a monopoly -- it's the monopoly to end all monopolies.
Because they control just about every diamond mine in the
world, they keep production very low, helping to keep
prices high. That's part of why diamonds are so expensive.
But wait -- what about the symbols of love part? In 1938,
De Beers hired one of the largest American ad agencies to
convince the American public that diamonds mean love.
They've been tremendously successful. How did they do it?

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A few ways. First they went after newly developing

Hollywood -- they convinced starlets to wear diamonds
and screenwriters to use them as symbols of love. Fashion
designers were hired to talk about the "trend towards
diamonds".
In 3 years, diamond sales increased 55%. But that wasn't
enough -- they needed total market domination. They
invented a new color, "diamond blue.
By 1960, they had convinced an entire generation that a
diamond was a fundamental part of an engagement. It
was a necessity -- there was no excuse for not having one.
If a man could not afford one, he was pressured to wait
until he could before proposing.
When the Soviets made a deal to sell all their diamonds to
De Beers, De Beers had a problem. Diamonds from the
Siberian mines were very small, and De Beers had spent
decades teaching Americans that larger was better. Their
response: they began pushing photos of smaller rings. An
entire campaign was designed to teach people that small
diamonds were just as symbolic of true love as larger
ones. They also began a campaign to convince Americans
that diamonds weren't just for engagement -- any
important occasion warranted a diamond.
So then De Beers came up against a new problem.
"Diamonds are forever" is right -- De Beers produces new
diamonds every year, but the old ones don't wear out -- so
what happens if people try to sell their diamonds? That
could destroy their profit margins! Solution: Americans
were convinced that diamonds are important to hold on to.
Even if you inherit a diamond, it cannot be sold -- that
would violate the memory! Today, very few jewelry stores
will even buy "used" diamonds, and potential sellers are
restricted to pawn shops and other such places where they
get a tiny percentage of the stone's market value. Result:
diamonds are a terrible investment because they cannot be
resold, but no one perceives them this way.

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CASE STUDY - 2
Child labor
India processes small diamonds, using traditional labourintensive methods. About 1.5 million people are employed
in the diamond industry, mostly in the unorganized sector.
With a few exceptions, workplaces in these industries are
normally congested, poorly lit and poorly ventilated.
Children are also working under similar conditions. In the
Surat area, one out of ten workers in the diamond
polishing industry is a child. The 1996 survey carried out
under the National Child Labor Policy Project showed that
in this area; up to 40 per cent of the wage earners in a
family are children. In addition to the children who live at
home and are sent to work, there is also a group of
children in Surat who live within the workshop itself and
work from a very early age.
Interviews with workers in the diamond industry in Surat
who send their own children to work revealed that these
were the workers who were not artisans and who were at
the bottom of the ladder both economically and socially.
Their own work was very irregular and dependent on the
power supply to the industry: no electricity, no work. They
prefer that their children work in the diamond industry
and perhaps acquire the skills of an artisan rather than go
to school, because they have no faith that education from
the school system will help their children find regular jobs.
However, it is mostly workers from the lowest rungs of the
ladder in the diamond industry who send their children to

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work at an early age. Children of artisans, like diamond

polishers, normally go to school for several years before
starting their apprenticeship, and children of workshop
owners and traders never work as children, even though
they normally enter the diamond trade after completing
their education.
There are no reliable statistics on the number of children
employed in this industry. Official and unofficial estimates
vary between 10,000 and 20,000.
Children in the gem polishing industry are engaged
ostensibly as apprentices, but in fact provide cheap labor.
The learning process takes five to seven years. During the
first two years the child does not receive any wage except
for occasional remuneration and works for ten hours a
day. By engaging a child the ustad (master) contractor
saves around Rs. 150- 200 a month at this time. After two
years the child is paid Rs. 50 a month, when he actually
does work worth Rs. 250-300 a month, at the very least.
Once the child has spent three or four years and has
started learning to make more facets, he or she is worth at
least Rs. 300 to 400, but is paid Rs. 100 a month. By the
time the child is 14 or 15 years old and has acquired the
skill of gem polishing, he would be earning Rs. 150-200 a
month whereas an adult would get Rs. 500-600 for the
same job. This is the juncture at which the contractor
retains the services of the child in order to reap maximum
benefit.
To all evidence, cheap or free labor seems to be the main
reason why employers in the diamond and gemstone
industry in India prefer to use children. In this respect the
diamond and gemstone industry is different from other
industries in India.
In the course of the workshop, efforts were made to
develop strategies which trade unions could employ in a
concerted effort to eliminate child labor from the diamond
and gemstone industry in India. Three major avenues
were found:

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First, the trade union movement is under a clear moral

obligation to bring to light and denounce child labor in the
industry in question. Public awareness campaigns,
especially in countries where there is a large market for
diamonds, had to be in the vanguard. These campaigns
must be skillfully conducted and always complemented by
other initiatives. Their aim should be to encourage
employers to negotiate an agreement to eliminate child
labor, to campaign for governments to take action, and to
motivate consumers to support positive action.
Second, the diamond industry is one, which is very tightly
controlled from the top, since the distribution of rough
diamonds for processing remains in the hands of a small
group. This control can also be used to reduce child labor
in the industry.

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SAPPHIRES
Sapphire is Aluminum Oxide Corundum. This gemstone
is one of the
most popular gemstones sought after. It
comes in almost every color but red, in which case it is a
Ruby. Sapphire is the birthstone for September.
The popular colors it comes in are: Blue, purple, violet,
green, yellow, green, colorless, pink, orange, and black.
All colors come light to dark. Sapphires come with 6-ray
stars and some sapphires have color change ability.
Sapphire symbolizes truth, sincerity, and constancy. It
was believed to protect the wearer against capture by an
enemy and to win the favor of princesses. It also
protected against poison. The Sapphire originally comes
from Sanskrit. It became sapphires in Greek, meaning
blue.
Sapphires come from Thailand, Sri Lanka, Australia,
Burma, Africa, Cambodia and Montana; U.S.A. Kashmir
Sapphires are encountered today, even though the mines
in that area are not presently being worked. The term is
applied to velvety violetish-blue stones (so-called
cornflower blue) that are not exceedingly transparent.
This lack of transparency produces a "velvety blue"
appearance, unlike that of other blue Sapphires.
Occasional, stones mined in Burma and Sri Lanka have
the same appearance as the Kashmir grade. . If a
Sapphire can be proved to be un-treated it is worth 10%
more.

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RUBIES
Ruby is an Aluminum Oxide, a variety of Corundum. This
gemstone is one of the most popular and sought after.
It comes in the color of red, violetish-red, pinkish-red and
brownish-red. The red color is caused by minute traces of
chromium. Ruby is the birthstone for July.
Hardness is 9 and toughness is excellent. This gemstone
will take more abuse than most all others.
The Burmese believed that "blazing red" stones could be
found in a "bottomless" valley. Natives threw pieces of
meat into the valley hoping that some stones would cling to
the meat and would be eaten by vultures. The stones could
then be recovered by killing the vultures. The legend
connected with Ruby is that the wearer was blessed with
health, wealth, and wisdom, as well as enormous success in
affairs of the heart.
Ruby mining has always been primitive. The mine is
essentially a well, hand dug, to a depth of 10 to 30 feet. A
man is lowered by a rope pulley system to the bottom,
where he scrapes up layers of gravel. The gravel is then
lifted in buckets to the top of the well. When the day's
scraping is finished, the miners sort the gravel for possible
ruby crystals. Mining for ruby rough has been going on
since prehistoric times in this way and is still in use today.
Passion, excitement, luxurious opulence...these are just a
few words that describe our fascination with this most
precious of gems. For thousands of years, men have sought
to own precious rubies as symbols of devotion and objects

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of desire. Imperfections and impurities may be removed by

controlled

MITHIBAI : BMS

For our Presentation I interrogated 5 diamond merchants. I

asked them a series of questions on the imports and exports and
other general information on diamonds in general and this is
what I analyzed.
1st I asked them what the main characteristics that they took into
consideration were?
All the diamond merchants gave full priority to the 4 Cs namely
Cut, Carat Weight, Color, Clarity.
Secondly, taking the different type of cut into consideration I
asked them which cut they would prefer.
They had a common answer of making a diamond in a Well cut
shape.
Thirdly the profit margins of every diamond merchant have
varied between 5 % to 15%
As per the clarity scale the diamond merchants purchase
diamonds according to VSI, IF, F which are considered to be very
good for a perfect diamond.
The rest of the questionnaire analysis has been done in the form
of Pi- charts and bar diagrams:

MITHIBAI : BMS

MITHIBAI : BMS

A diamond is likely to be the oldest thing you will ever

own, probably 3 billion years in age.
Diamonds are fluorescent and phosphorescent i.e.
when a diamond is kept under an ultraviolet light it
gives out blue coloration and some diamonds
continue glowing even after the ultra violet source is
turned off.
Diamonds display the maximum amount of
reflectance for a transparent substance, displaying
what is known as adamantine luster.
Diamond is an insulator i.e. non-conductor of
electricity. However rare diamonds, particularly the
gray to blue ones, are semi-conductors.
It repels water but readily accepts wax and grease
which is n unusual property for a mineral.
Diamonds posses the quality to extract/conduct the
heat away from our body.
The diamonds two most valued attributes i.e.
brilliance & luster are because of its great ability to
refract light i.e. to bend or slow light as it passes
through it.
According to Mohs scale (hardness measuring scale
for minerals) diamond is the hardest
substance/mineral.

MITHIBAI : BMS

Diamond is thousand times harder than corundum,

the next hardest substance according to the Mohs
scale.
Moissanite is a gem stone that looks so much like a
diamond, it even fools most jewelers. It is responsible
for raising a problem in the diamond industry which
is founded largely on consumer trust.
The major supplier of diamonds into the Indian
market is the Rio tinto- controlled by Argyle mine in
Western Australia, followed by De Beers/ CSO
diamonds and a small but growing illicit trade in
diamonds smuggled out of Russia.
The big four diamond cutting centers are Antwerp
(Belgium), New York (USA), Ramat Gan (Israel),
Mumbai (India).
The big four cutting centers are also the main
diamond trading stations, with the addition of Hong
Kong, which services buyers in Asia.

MITHIBAI : BMS