BDB Host G20 Trade & Investment Working Group

Mar 28, 2023

Bharat Diamond Bourse, world’s largest Diamond centre welcomed the G20 Trade & Investment Working Group to an overview of the Indian Diamond Industry as well as a tour of the state of the art BDB complex. Polished Diamond Exports is one of the most important GDP revenue earners for the country comprising of 7% of total GDP revenue and almost 150/ of total merchandise exports of the country. Polished diamonds from India are exported to almost over 100 countries worldwide and Bharat Diamond Bourse with its cutting edge technology and world class facilities for members to trade and accounts for nearly 97% of total polished exports of the country worth 24 Billion USD in FY 2021/22 and 42% of Rough diamond import worth 18 Billion USD in FY2021/22.

In his inaugural address Mr Anoop Mehta, President Bharat Diamond Bourse gave an overview of the Indian Diamond sector and the key role that Bharat Diamond Burse plays in the growth of global diamond industry. He spoke on the importance of critical facilities available within the bourse that enables over 2500 export units housed within the bourse to function seamlessly and grow. Bharat Diamond Bourse boasts of world class security systems, an effective customs department, a special notified zone [IDTC], state of the art certification and grading entity [GII], the Mumbai Diamond Manufacturers Association [MDMA], GJEPC and other key departments that go a long way in ensuring efficient exports and transparent International trade Apart from important systems implementation such as Security, Technology etc that makes the BDB a highly securitized zone the other departments too play a key role in the growth of diamond exports. India Diamond Trading Centre [IDTC] is a special notified zone within BDB that auctions and tenders rough diamond coming in from mining economies in Africa, Canada and others.

IDTC helps members large and small sized companies to procure rough diamonds from within the bourse and saves them time and money to travel to mining and other economies to procure rough diamonds. MDMA plays a key role in employment generation and has over 13000 members trading on a daily basis. GII Gemmological Institute of India brings in superior technology for identifying diamonds and works relentlessly on certification and grading of polished diamonds. These and many more facilities such as Banking, Food court, Logistics, Parking area etc makes the BDB a world class and largest trade centre in the world.

In his welcome address Mr Vipul Shah, Chairman Gems and Jewellery Export Promotion Council showcased the gems and jewellery Industry of India talking about the history of the Indian Jewellery and the leadership status that the country still enjoys especially in the Diamond sector. He also emphasised on the billion dollar gems and jewellery export sector and added on the important role that artisans and labourers play for putting India in a position of pride. He spoke about the strong partnership that India Share with G20 nations when it comes to Gems and Jewellery trade. The G20 trade and working group representatives were taken for a tour of the Bharat Diamond Bourse and were explained the various facilities of the complex. During the tour, the delegates were introduced to several institutes, including the Mumbai Diamond Merchant Association, India Diamond Trading Centre, GJEPC, Gemmological Institute of India, Indian Customs and Security Command & Control Centre, as well as some of the world’s leading merchant offices such as Mohit Diamonds Private Limited, Mahendra Brothers, Ankit Gems, Venus Jewels, Kiran Gems Private Limited, Shree Ramkrishna Exports Pvt. Ltd. Dharmanandan Diamonds Pvt. Ltd. and Finestar Jewellery.

The BDB Vice-President, Mr Mehul Shah, who was attending the WFDB meeting in Israel, extended his best wishes and played a crucial role in the event’s success. The contributions of Shri Kirit Bhansali, Shri Milan Parikh, Shri Mahesh Vaghani, Shri Saket Mehta, Shri Kiran Gandhi, Shri Paresh Mehta, Shri Jay Parikh and other members of the Board of Directors were instrumental in making this event a grand success.

A visually stunning video showcasing all the institutes required to run the bourse was presented to the delegates. The video also emphasized the significance of security and fire safety, thereby making the security professionals proud to be placed on the main pedestal and increasing their sense of responsibility. The unconditional support extended by the Mumbai  Police, QRT,  Mumbai  Metropolitan  Region Development  Authority (MMRDA), and BMC was critical  in making this event a grand success. The BDB and the Indian Diamond Industry take immense pride in having had the opportunity to host the G20 Delegates and are grateful to the Ministry of Commerce and Industries for this opportunity.


You May Also Like