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Theoretical and Applied Economics
Reference:

Problems in Russia’s diamond industry under the conditions of systemic reforms and ways to solve

Khromova Natalia

External Doctoral Candidate, the department of World Economics, Moscow State Institute of International Relations under the Ministry of Foreign Affairs of Russia  

119454, Russia, g. Moscow, ul. Prospekt Vernadskogo, 76

hromova.nata@gmail.com

DOI:

10.25136/2409-8647.2019.2.30120

Review date:

25-06-2019


Publish date:

18-07-2019


Abstract.

This article explores the relevant problems in development of the Russia’s diamond industry (RDI). Special attention is paid to the problems pertaining to state regulation of Russia’s diamond industry. The author notes that the key factor halting the development of RDI lies in the flawed sectoral legislation, which puts Russian diamond producers into uneven circumstances with their foreign counterparts, and despite the presence of unique raw resources, does not allow RDI to utilize the global practice and fully exercise its potential. The author underlines that in the recent years there have been substantial legislative changes with regards to liberalization of state regulation in the area on diamond industry. Special attention is given to the India’s economic policy in diamond sector for the purposes increasing its competitiveness and possibility of borrowing positive Indian experience of state regulation for development of RDI. Among main conclusions of the conducted research is the proposal of borrowing the positive India’s experience in order to modernize the organizational-economic structure of diamond processing in the Russian Federation. Additionally, the author formulates the necessary measures for implementation of state regulation and state support of RDI in practice.

Keywords: jewelry industry, diamond-cutting industry, mine diamond industry, rough diamonds exports, diamonds, Special Economic Zones, customs preferences, tax incentives, state regulation, diamond complex
This article written in Russian. You can find full text of article in Russian here .

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