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New Diamond Exchange for India

With a brand new Diamond Exchange India is moving towards becoming a global trading centre for cut and polished diamonds.

The Bharat Diamond Bourse (BDB) was opened in Mumbai Monday about 20 years after the idea was first proposed. India is already the world's largest exporter of cut and polished diamonds.

The BDB is situated in the Bandra Kurla Complex in Mumbai, the financial capital of India. Spread over 2 million square feet across 20 acres it hopes to catapult Indian diamond trade into the largest in the world. It is being called the world's largest bourse with all essential facilities such as cutting, polishing, trading, banking and customs under one roof.

India's attempts to match the diamond hubs at Antwerp and Tel Aviv have not had a very smooth ride. However having overcome contractual disputes, floods, fires and misuse of funds the exchange has finally come together. It will be in use from December onwards.

The President of the Bharat Diamond Bourse, Anoop Metha hopes that the 11 billion rupee project would make Mumbai the largest diamond hub in the world. A fact that could well happen given that the diamond trade in India is set to grow by 5 to 10 % per year for the next ten years.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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