Nair said, "The Memorandum of Understanding is a further strengthening of the relationship between De Beers and the Government of India that has already existed for the past two decades, into a partnership in diamond mining in India. The agreement also illustrates the interest shown by Government of India in diamond exploration and mining."

McKechnie reiterated De Beers commitment to the discovery of new world class diamond mines in India. De Beers India's exploration investment in India to date has been approximately Rs 450 million with planned expenditure in 2005 budgeted at Rs 350 million.