(a) the present status of country`s diamond processing sector;
(b) whether USA has proposed this sector as a potential sector for outsourcing their production of diamond studded jewellery;
(c) if so, the details thereof; and
(d) the extent to which this sector is going to benefit by the proposed US move?
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI S.B. MOOKHERJEE)
(a) India is the largest cutting and polishing center in the world. India`s share in world net imports of cut & polished diamond is approximately 60% in terms of value, 85% in terms of volume, 92% in terms of pieces. It employs a workforce of nearly one million. The Indian diamond industry uses advanced technology. Around 35% of our total exports of cut & polished diamonds are exported directly to USA. Roughly 11 out of 12 diamonds set in Jewellery worldwide are cut & polished in India.
(b):No Sir,
(c) & (d): Do not arise.