MUMBAI: India, the world leader in the export of cut and polished diamonds, is taking a major step towards becoming a global trading centre for the gemstone with a newly launched diamond exchange.
The Bharat Diamond Bourse (BDB), touted as the world’s largest diamond trading centre, opens Sunday in India’s financial capital Mumbai more than 20 years after the idea was first proposed.
India’s bid to become a diamond hub to match Antwerp in Belgium and Tel Aviv in Israel has had a bumpy ride, overcoming contractor disputes, floods, fires and charges of misuse of funds.
The three million square foot (287,700 square metre) exchange will bring export and trading firms, banks, vaults, a customs department and investors under one roof, in an eight-tower complex in Mumbai’s Continue Reading…
