The Indian economy is on the verge of transformation, and the diamond trade industry is expecting tremendous growth in the near future.
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Bharat Diamond Bourse [BDB], the world’s largest diamond centre, has been creating a positive impact on the Indian Diamond sector in terms of Year on Year growth and increase in the foreign exchange revenue for the country.
The Indian economy is on the verge of transformation, and the diamond trade industry is expecting tremendous growth in the near future. Diamond exports from India are expected to reach 30 Billion USD by 2026. Bharat Diamond Bourse has been instrumental in making this Billions of dollar export hugely successful by providing one of the most sophisticated and securitized environments to its members, who are polished diamond exporting companies. An in-house customs department, proximity to the international airport, efficient logistic support, seaport, rail transport and many other facilities that Mumbai city offers has made the more than one decade-old Bharat Diamond Bourse an important catalyst in the growth of over 2500 large medium and small Diamond exporting companies with a strong member strength of over 6000 centers and a large trading hall.
BDB also has a Mumbai Diamond Merchants association with over 14000 members making the grass root and career of young traders very strong.
In recent times another diamond exchange has sprung up in the city of Surat, the Surat Diamond Bourse [SDB]. This young diamond centre in Surat has been inspired by Bharat Diamond Bourse in terms of the aesthetics and the facilities that would be made available to the members in the time to come. Surat Diamond Bourse, too, is wooing the Diamond exporting companies to set up offices in its facility and is offering subsidies in terms of rentals to all those companies who will shut their offices in Bharat Diamond Bourse and shift their businesses to Surat Diamond Bourse. In its aggressive marketing strategy, the Surat Diamond Bourse has sent an official notice approved by the SDB committee to the Diamond exporting companies with offices in BDB to avail of freebies and other SOP’s if they shut their office and all operations in BDB. This aggression has not gone too well with the Bharat Diamond Bourse committee and members who have been working tirelessly to build every diamond exporting company’s business and have been sincere facilitator of the Diamond trade.
Talking about the tremendous opportunity that Indian diamond companies can leverage, Mr. Mehul Shah, Vice President of Bharat Diamond Bourse, shared that “Indian Diamond Industry members control 70 to 80% of the world’s diamond trade whether they are based in India, Belgium, HK or Dubai and there is a huge potential for growth in the future. There is also immense scope for jewellery exports which in turn translates into employment opportunities and value addition in the diamond and jewellery sector. In order to make the most of the future opportunity, Indian diamond companies need to seek the right partner for them. This is where Bharat Diamond Bourse comes in. We have the best infrastructure and environment that facilitates a big number of growth avenues for a diamond company.”
Mr. Mehul added, “Bharat Diamond Bourse has India imbibed in it, and there is always growth and support in our mind when it comes to the diamond industry all over India. We have always supported the recently created Surat Diamond Bourse in terms of its infrastructure, planning and other facilities. They have the benefit of following a successful example we at BDB have set.”
The encouraging growth that is being foreseen for the Indian diamond industry is inspiring more exchanges to develop. Jaipur is also planning to launch a diamond bourse, and BDB will support them too. BDB will welcome and support more such diamond exchanges across the country so that it benefits the diamond business industry in India and uphold a leadership position in the global market.
Diamond business requires the highest security and world-class infrastructure as it involves premium value commodity. Since 2010 BDB has worked hard to set up this facility and provide a world-class environment for businesses to flourish. Traders identify with the vision of Bharat Diamond Bourse and value this professional relationship so much that even after being lured by unbelievably attractive offers, over 90% of companies in BDB have not purchased office space elsewhere. For the benefit of the businesses, BDB charges only Rs 1/- per square foot as maintenance cost.
BDB facilitates office and trading space for large, medium and small companies and supports every one of these companies to grow in the international market. Along with the numerous advantages of being with BDB, the diamond businesses also automatically get the benefit of having a base in Mumbai which cannot be matched by any other in at least the next 5 to 10 years
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