RUSSIA’S President Vladimir Putin said he supported direct supplies of rough diamonds to India from Alrosa, the Russian state-run mining company. Putin, who recently concluded a two-day visit to India, noted that he had signed a decree earlier this month, which lifted quota restrictions on exports of diamonds and platinum group metals (PGM) from Russia.%%Putin’s announcement comes close on the heels of an Indian government initiative to secure sources of raw materials to bolster India’s position as a major gem and jewellery hub in the near future. According to Jairam Ramesh, the Indian minister of state for commerce, the government is close to finalising deals with a number of countries apart from Russia, including Canada, Australia, South Africa, Namibia, Lesotho, Botswana, Ghana, Angola, Azerbaijan, Armenia, Uzbekistan and Venezuela.%% India and Russia are looking to expand total bilateral to $10 billion by 2010, from the estimated $3.8 billion at present. However, in order to achieve the target, bilateral trade would need to grow at a rate of 30 per cent, as against the current 20 per cent, Putin said.