The Emerald and Semi-Precious Stones Mining Association (ESMAZ) says the inaugurating of the Zambian Emerald in India makes sad reading.
Speaking in an interview with Money FM News, Association President Victor Kalesha said it would have been better if Emerald was inaugurated within the country because it would have attracted more revenue for the country.
Mr Kalesha said it is sad that the money that was supposed to be coming into the country and used for various national developments will be going to India.
Mr Kalesha lamented that most international precious stone buyers are not interested in investing in mining gemstones in the country because of the huge cost that comes with the business.
He says this is the more reason government should encourage partnerships in the sector between international gemstone buyers and local miners in the sector other than reprocessing licenses from mines that are dormant.
He said this will encourage more investment in the sector, unlike what is the case now.
Mr Kalesha adds that drilling of gemstones is very expensive and international gemstone buyers are skeptical of investing the industry.
Early this week a rare Zambian emerald sold by Gemfields, called Inkalamu, had been inaugurated in India by DiaColor, the jewelry brand that bought it during an auction in Singapore in 2018.