World’s largest diamond bourse set to shine anew | mumbai | Hindustan Times
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World’s largest diamond bourse set to shine anew

After delay of over a decade, the diamond bourse in Bandra-Kurla Complex (BKC) will be operational from next week. The management of Bharat Diamond Bourse (BDB), to be inaugurated on Sunday, said it would be the world’s largest diamond trading hub.

mumbai Updated: Oct 15, 2010 02:48 IST
HT Correspondent

After delay of over a decade, the diamond bourse in Bandra-Kurla Complex (BKC) will be operational from next week. The management of Bharat Diamond Bourse (BDB), to be inaugurated on Sunday, said it would be the world’s largest diamond trading hub.

Anoop Mehta, president of the exchange, said the aim was to provide a state-of-the-art exchange to enhance India’s position in the diamond trade. “We want to take India forward — from a manufacturing hub to a trading centre,” said Mehta.

The 20-acre plot would house traders, exporters, custom officers, and banks under one roof, he added.

The entire project, with eight towers of nine floors each, has been designed to accommodate 2,500 small and big traders and is expected to offer good competition to Antwerp of Belgium.

According to Mehta, India is already a major manufacturer with 11 of the 12 diamonds of the world being processed here. Mehta said the expected international traders to come in the exchange and trade. “We want to encourage smaller traders to come here as well,” he said.

India is ranked third in diamond consumption after the US and Japan, accounting for 8% of the world’s share. It also holds 75% share for the world’s exports. In addition, approximately 8.5 lakh people are employed in this industry.