Almost all of the world’s diamonds pass through a single Indian city writes Jason Miklian. Highlights of his article include:

• In the city of Surat, it is estimated that 10% of the 5 million population is involved in the diamond trade.
• More than 90% of the world’s diamonds pass through this city – only about two thirds of them are legal.
• Diamond polishers here earn $1 for every $1,000 diamond they polish.
• The diamond trade is controlled by a secretive familial network that doesn’t allow outsiders. Those who cheat are kicked out of the circle, ensuring everybody’s loyalty.
• $150,000 worth of stones can be transported for as little as $2.
• “Blood diamonds” and other restricted stones that are intercepted are auctioned off by the Indian government, putting the conflict gems back into circulation.

Read more about the failed attempts to police the world diamond market, how the town came to achieve prominence, how the townsfolk reacted to the movie Blood Diamond, and much more over here.

Source: Foreign Policy