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On Wednesday, the Cabinet Committee on Economic Affairs (CCEA) has approved the winding up of Hindustan Diamond Company (HDCPL), a 50:50 joint venture of the government and De Beers Centenary Mauritius Ltd (DBCML).
The decision had been taken in a meeting of Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.
The Commerce Ministry has said in a statement that CCEA ” has given its approval for initiating the process of winding up of HDCPL and the winding up of HDCPL is not likely to affect the supply of rough diamonds to Indian diamantaires as domestic diamond industry has grown in these years and several Indian players are sightholders with top diamond producers now.”
