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Indian to wear crown at world's diamond HQ
AHMEDABAD: The next president of the Antwerp based Diamond High Council; Hoge Voor Diamant (HRD) the world?s apex body in diamond trade could be an Indian. The new board will meet on May 11 to designate a replacement for former president Peter Meeus, who resigned in January. It will also select the managing director and a 12th independent director. Sources in the Antwerp diamond industry told that with a significant presence on the board, the chances of an Indian taking over as the chief of the body are very high. ?If not president, the MD will be an Indian,? a big Antwerp-based diamond trader said. Besides marking the supremacy of Indians in the world diamond trade, the development means a lot for the $15 billion plus Indian diamond industry. Indian members are seen more receptive to problems faced by local diamond traders in the world market. The general assembly HRD ratified the election of five Indians to its 11 member board. Kaushik Mehta (Eurostar Diamond Traders) and Nishit Parikh (Diarough), both sight holders of De Beers, are now on the board, along with Mehul Kothari (Sushang Exporters), Nilang Mehta (Genesis Diamonds) and Mukund Joshi (Belindiam).