In a step that is likely to increase direct diamond trade between India and Russia, India's Gem & Jewellery Export Promotion Council (GJEPC) and Russia's state-owned diamond mining firm Alrosa signed a memorandum of understanding (MoU) to share trade and statistical data on the diamond trade between the two countries.
The MoU was signed by GJEPC Chairman Vipul Shah and Alrosa President Fyodor Andreev in Moscow on Thursday.
Alrosa and GJEPC agreed to exchange information pertaining to the development of co-operation between Indian and Russian diamond sectors, including overviews of the diamond market situation, Indian and Russian trade figures and information on Indian diamond market.
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