Binu Alex, Commodity Online
Part II of Diamond Series.
SURAT: Indian diamonds have always attracted the world. India’s tryst with the precious stones dates back to at least 2000 years when India was the only source of diamonds, more from alluvial deposits. In 1760, diamond deposits were found in Brazil. India’s historical diamond fields were in Andhra Pradesh, Chhattisgarh, Madhya Pradesh and Orissa.
The richest was Golconda, which was actually the name of a fort near Khaiderabad, a city in south-central India. India’s alluvial diamond deposits were found on the beds of various rivers in Krishna valley, as well as in Penner, Karnool, Godavari and Makhnadi and in Panna fields.
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For over 1100 years till 17th century, India dominated the world diamonds trade. Though modern techniques of gemology evolved with the help of machines, India had developed its own ways to identify precious stones centuries ago.
The first century Scriptures ‘Ratnapariksha’ is syllabi for valuation of diamonds. ‘Bharat Samhita’ written by Varahamihir and ‘Arthashastra’ by Kautilya provide further testimony to Indians’ knowledge in diamonds and jewellery.
Diamonds are nothing but crystalline form of carbon which acquires this lustrous form under enormous temperature and pressure. Diamonds come up to the surface of earth due to seismic activities and are found in Kimberlite pipes.
Diamonds are available in two formations. Alluvial formations along the river bed or oceans and Kimberlite formation of stones. Diamonds were formed at least 990 million years ago, although some are estimated to be as old as 4.25 billion years.
Read First Part: Diamond: The Carat of Surat in India
African countries produce over 60 per cent of roughs in terms of value and over 50 per cent in terms of volume. Russia, Canada and Australia are the other three major players. Political pressure to generate more jobs in the sector is forcing governments in Africa to retain all aspects of diamonds in their local jurisdiction.
Savvy marketing of diamonds by big cartels has converted them into a crucial symbol of middle-class courtship — a ‘girl’s best friend’ and a sign of eternal love.
Though India continues its leadership in diamond polishing, the certifying is still done by foreign labs, primarily because the sale of diamonds are more outside India than here and any certifying by Indian labs will not be sufficient to win trust of buyers abroad.
Watch tomorrow for third part of the series on diamonds
