G-20 delegates visit Mumbai's glittering diamond hub

G-20 delegates visit Mumbai's glittering diamond hub

The Indian diamond industry played host to the G-20 Trade and Investment Working Group at the world's largest diamond hub, the Bharat Diamond Bourse (BDB) in the Bandra Kurla Complex. The delegates went around the sprawling BDB spread across more than 20 acres of land with 2,500 offices, as the industry exports cut and polished diamonds worth $23 billion annually.

India exports diamonds and diamond jewellery to the whole world and 14 out of 15 diamonds set in jewellery worldwide are processed in India, through 85 percent of the players who comprise the MSME sector. The G-20 team went around the BDB, visited the Mumbai Diamond Merchants' Association (MDMA), India Diamond Trading Centre (IDTC), the Gem & Jewellery Export Promotion Council (GJEPC), the Gemological Institute of India (GII), the Precious Cargo Customs Clearance Centre (PCCCC), as well as the Security Command and Control Centre.

They also visited a few major companies like Mohit Diamonds, Shree Ramkrishna Exports, Mahendra Brothers, Venus Jewel, Finestar Jewellery & Diamonds, Ankit Gems and Dharmanandan Diamonds, to get an insight into the trade, operations and its importance for the Indian economy and employment generation.

The Indian diamond industry is renowned for its skilled craftsmanship, cutting-edge technology, and strong ecosystem, making it a key player in the global diamond industry and the G20 team witnessed first-hand the diamond industry's immense potential and the crucial role it plays in the global economy.

Among the industry leaders who met and interacted with the G-20 delegates were BDB President Anoop Mehta, GJEPC Chairman Vipul Shah and other bigwigs of various companies and associations.

Source: IANS