China, India balance euro threat to diamond

According to the data, Botswana's export of goods to India and China grew by 84 percent and nine percent respectively last year, compared to a five percent increase in exports to Belgium and 23 percent to Israel. The last two are traditional diamond trade hubs, controlling more than 70 percent of global rough, polished and diamond jewellry trade. While manufacturers and retailers in Belgium and Israel also export to China and India, the rise in export volumes to the Asian giants suggest direct sales of Botswana polished stones to the two eastern markets.

Several diamond cutting and polishing firms licensed in Botswana, such as Eurostar, Shrenuj and Suashish and Dalumi, have robust operations in both India and China, to tap into the global swing eastwards in the diamond industry.