Just speculating here, maybe if you fly to India and visit their cutting shops in Surat.
The fairest prices as I understand it are on BlueNile, which charges about 10-15% above cut price, which is much better than the 100+% you'll find in retail.
+1 for BlueNile, you can do better than them but they are a huge improvement over the mall stores.
Yes it's possible, but you need to do your research. Many of the big ones go to the Hong Kong Jewelry and Gem fair.