Ajay A S, Commodity Online
NEW DELHI : India has banned trade of rough diamonds with Venezuela after it withdrew from Kimberly Process Certification Scheme, a process that disallows illegal trade of diamonds that funds rebel activities.

The Directorate General of Foreign Trade all trade with Venezuela will be prohibited in India, world’s largest diamond processing hub.

India has the unique record of mining diamond for the first time ever. Kautilya’s Arthasastra written in 4th century BC contains perhaps the earliest known reference to diamonds. It states "(a diamond that is) big, heavy, capable of bearing blows, with symmetrical points, capable of scratching (from the inside) a (glass) vessel (filled with water), revolving like a spindle and brilliantly shining is excellent. That (diamond) with points lost, without edges and defective on one side is bad."

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The word most generally used for diamond in Sanskrit is translitereated as vajra, "thunderbolt," and Indrayudha, "Indra's weapon." Because Indra is the warrior god from Vedic scriptures, the foundation of Hinduism, the thunderbolt symbol indicates much about the Indian conception of diamond.

The flash of lightning is a suitable comparison for the light thrown off by a fine diamond octahedron and a diamond's indomitable hardness. In India, the diamond has traditionally enjoyed great fame as a talisman, thanks to its exceptional hardness and other properties.

It was a symbol of courage and virility, qualities that were considered exclusively male. It is said that when Alexander the Great reached the Valley of Diamonds he saw that the valley floor was studded with diamonds guarded by giant snakes with deadly gazes. But Alexander had a plan and cheated the snakes out of their diamonds.

"Diamond" comes from the Greadamao, transliterated as "adamao," "I tame" or "I subdue." The adjective "adamas" was used to describe the hardest substance known, and eventually became synonymous with diamond Kohinoor.

Many wars were fought over the legendary diamond, Koh-i-noor believed to have been mined in India 4000 years ago. Koh-i-noor means “Mountain of Light” which weighs 105 carat (21.6 g) diamond which was one of the largest known diamond in the world.

It originated in Golconda in Andhra Pradesh which came into the hands of Mughal and Persian rulers at various points of history and several wars were fought over this invaluable asset. It finally sailed to Britain and became part of the British Crown Jewels when British Prime Minister Benjamin Disraeli proclaimed Queen Victoria as Empress of India in 1877.

Like all significant jewels, the Kohinoor has its share of legends. It is reputed to bring misfortune or death to any male who wears or owns it. Conversely, it is reputed to bring good luck to female owners. According to another legend, whoever owns the Koh-i-Noor rules the world.Arthasastra reveals that then already there was an active diamond trade in India and mention the importance of Indian harbours as points of departure for major trade routes with Europe. Until the 18th century, India remained the only producer. India produced 50,000 to 100,000 carats of diamond annually at one point of time.  Continued...