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India conducts study of Armenian diamond processing industry

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  • India conducts study of Armenian diamond processing industry

    INDIA CONDUCTS STUDY OF ARMENIAN DIAMOND PROCESSING INDUSTRY

    Tacy Ltd., Israel
    May 2 2005

    May 02, 2005

    The Embassy of India in Armenia has undertaken a survey to explore
    the diamond processing industry (cut and polished diamonds) in Armenia
    and find out the investment opportunities for Indian businessmen. The
    objectives of the survey on cut and polished diamonds in Armenia are
    to define the role of the diamond industry in the general industrial
    setup of Armenia, to study the current state of the companies involved
    in the diamond processing in Armenia, to examine the present local
    diamond market and potentials, as well as its industry volumes
    and sources of import and export, to give statistical information
    on Armenia's external diamond transaction with other countries, to
    identify the business environment and understanding the tax regime,
    foreign trade regulations, foreign investment regulations, as well
    as major disincentive information about business opportunities and
    legal imports.

    The survey found that Armenia currently has an advanced diamond
    cutting industry and is an active player in the world market.
    Armenia's advantages are found to be highly qualified diamond cutters
    and polishers with competitive wage rates, modern equipment at the
    existing diamond processing plants, tax privileges (no taxes on
    imported rough diamonds and exported cut and polished diamonds),
    and government support to diamond processing aimed to facilitate
    new investments.
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