Botswana is all set to become the next global diamond trading center. Till 2010, it is expected to be cutting and polishing diamonds worth 500 million dollars every year.
An uncertainty about the potential of the nascent African industry has raised questions since the country has a short of physical and financial infrastructure. Besides, it will also have to face strong competition from the already stable diamond markets like Mumbai, Antwerp and Amsterdam.
On the other hand, experts assure that the upcoming diamond market of Botswana will only be an addition, not a threat to the traditional markets.
At Antwerp Conference, South African countries producing diamond exclaimed that beneficiation of local mines was not an alternative but a necessity.