[miningmx.com] – DE Beers, the 85%-owned Anglo American company, said India would support sales growth as the country’s newly elected prime minister, Narendra Modi championed the diamond industry.
“India is the good news versus last year,’ Philippe Mellier, De Beers CEO told Bloomberg News. “It is clearly starting to grow again. The election of Mr. Modi is clearly changing the paradigm there. We all believe he is going to support the industry,’ he said.
Mellier said he expected “high single digit’ growth in Indian demand in the second half of the year. Global diamond demand will probably rise 4% to 4.5% this year with US consumption increasing as much as 6%, he said.
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