Diamond firms ready to dazzle

China may soon displace India as the leading diamond processor in the world, thanks to its favorable government policies, vast pool of skilled technicians and robust domestic demand.

In 2004, China was ranked the second largest diamond processor in the world, and since then the industry has been making rapid growth strides.

China has around 80 diamond-processing companies located mainly in Guangdong, Zhejiang and Shandong provinces, employing nearly 60,000 people. Contrast this with India, where nearly 1 million people are involved in the diamond industry, spread across thousands of factories in the country.