Shri Kamal Nath also took up the issue of royalty in the context of continuing operations of the Australian Diamond Mining Company M/s. Argyle. India sourced large quantities of rough diamonds from Western Australia and hence, the resolution of this issue would ensure availability of diamonds from Australian mines beyond the year 2008, he said.
“Eleven out of 12 pieces of diamond in any piece of jewellery in the world is cut and polished in India”, Shri Kamal Nath said, underlining the importance of this industry in providing employment to over a million people in India, especially in Gujarat. The Australian side flagged the issue of access for Australian wines in the Indian market. Shri Kamal Nath mentioned that tariffs in India had been reduced considerably and would be down to ASEAN levels in a couple of years.
The two sides also had a broad exchange of views on multilateral trade relations.
Press Information Bureau Government of India
marketing@alchempro.com
