Bharat Diamond Bourse sees turnover rising 10-15%

Bharat Diamond Bourse sees its turnover increasing by 10-15% annually in next five years from the current $27-28 billion on higher participation from diamond traders, said the head of the exchange on Thursday.                                           

"We expect diamond traders from Israel and Belgium to start trading over here. And, we also expects primary producers to come and sell their produce in India," Anoop Mehta, president of the exchange, told reporters.                                           

India processes about seven in every 10 of the world's diamonds, and holds about 57% of the diamond processing industry.                                            
The processing industry accounts for 70-75% of total diamond exports and employs 850,000 people, making it the largest cutting centre by value and number of employees.