Indian diamond processing and retail firm M Suresh Group (Private) Limited has officially opened its new diamond cutting and polishing centre in Botswana.
The company joins nearly 20 other diamond cutting and polishing firms which have set up in Gaborone since 2015, in line with a new government policy that advocates for pre-export value-addition of diamonds and diamond products.
Mines, Energy and Water Resources minister Eric Molale hailed the coming of the Indian giant as confirmation that diamond beneficiation has become a way of doing business in Botswana.
He said since starting in 2016, the company has transferred critical skills to the locals who form the bulk of its 148-strong workforce.
“Moving activities such as the cutting and polishing of rough diamonds to Botswana creates economic diversification through expanding employment opportunities and bringing new sources of revenue,” Molale said.
Lalit Adani, Chief executive of M Suresh Group Chief Executive said the company intends to add value to local diamonds through beneficiation.
“Achieving sustained beneficiation targets is a strategic priority for us, as it is for the government. We hope to transfer skills and partake in social development, while taking Botswana to greater heights,” Adani said.
From its headquarters in the Indian city of Mumbai, the M Suresh Group commands a presence in major global diamond trading centres that include the United States, Belgium, South Africa, Hong Kong, Australia, Israel and Botswana.