Gujarati diamond traders believe that India, besides being a manufacturing powerhouse, has everything that it needs to emerge as a diamond trading hub.
Guess who is talking of India emerging as a hub of the international diamond trade? It is not the Indian government or local industry bodies, but the Gujarati diamond traders newly elected to the board of Antwerp World Diamond Centre (AWDC), diamond trade’s umbrella body in Antwerp.
The Gujarati diamond traders, most of who are settled in Antwerp for more than two decades, believe that India, besides being a manufacturing powerhouse, has everything that it needs to emerge as a diamond trading hub. “Being a manufacturing hub and also a growing consumer market, India is one of the most important players in the global diamond industry. It certainly can emerge as a hub of the diamond trade in the next few years,”
Nishit Parikh of Diarough told DNA over phone from Antwerp. Parikh is one of the six Gujarati diamond traders recently elected to the AWDC board.
Sohil Jhaveri of Sauraj Diamonds and another member elected to AWDC, said, “Israel, which is a very important diamond trading hub, is slowly fading out. India is best suited to take advantage of this, and emerge as a new hub.” India cannot replace Antwerp —not in the next 10 years, at least — but it has a good chance of emerging as the second biggest trading hub in the coming years, Jhaveri said.
India is already the hub of diamond cutting & polishing, accounting for 9 out of 11 diamonds produced globally. But the bulk of the diamond trade still takes place in Antwerp and Israel. Hong Kong and Dubai have also emerged as important trading centres in the last few years. For quite some time, the Indian government has been talking of making India a trading hub, and has taken some policy and fiscal measures in this regard in recent years. However, industry experts say a lot more needs to be done to accomplish
the goal.
The newly-elected board members of the AWDC were also unanimous in their opinion that the Indian government needs to take up the matter much more seriously if the country is to emerge as a diamond trading hub.
“The government has to create a helpful environment if India has to emerge as a hub of diamond trade,” said Amit Bhansali, COO of Rosy Blue, who won the highest number of votes in the AWDC elections.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}