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Botswana negotiating zero US tariff on diamonds

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 Botswana’s president Duma Boko says he’s close to negotiating an end to the 15 per cent tariff imposed on his country’s polished diamond exports to the US.He also says Botswana must diversify beyond diamonds to exploit its copper, nickel, and cobalt resources – and must ensure the value they generate remains in the country. Botswana’s diamond sale were halved in 2024, reflecting a global slump in demand.

Botswana is the world’s biggest diamond producer by value, but the vast majority of its output is exported to India (with 50 per cent tariffs), Belgium (zero tariff for diamonds), and the UAE (10 per cent tariff). Only around 10 per cent of Botswana’s diamonds will benefit from a scrapping of the tariff

He said  talks aimed at achieving a zero tariff on diamonds mined, cut and polished in Botswana and exported directly to the US were at “an advanced stage.The US has already reduced tariffs on Botswana’s goods from the 37 per cent figure introduced on 1 August (10 per cent baseline tariff plus 27 per cent reciprocal).

Duma Boko also spoke about the need to diversify and retain wealth within Botswana: We’ve been overly dependent on diamonds. We’ve taken a very heavy knock on that front. We are also looking to diversify within the mining sector, looking at critical minerals which we have plenty of, we have copper, nickel, we have cobalt,and we will be looking to leverage on our endowment in these regards to now begin industrialization.

A lot of the wealth of the continent ends up in other jurisdictions. The biggest downside has been to allow the product, the minerals, mined on the African soil to be carted away in the raw. The approach now for Botswana and for the rest of the African continent has to be that of these minerals must take place in country, must take place within the continent, so that value is extracted, so that each country and Africa as a whole becomes a hub for value addition.”

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DiamondBuzz

De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India

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De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.

The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.

We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance)  to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Kirit bhansali

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.

By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”

The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:

  • Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
  • Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
  • Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
  • Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.

As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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