Mumbai: Marking a historic milestone in the over 100-year partnership between the diamond industries of India and Belgium, the Bharat Diamond Bourse (BDB) in the Bandra-Kurla Complex in Mumbai hosted Bart De Wever, Prime…

Mumbai: Marking a historic milestone in the over 100-year partnership between the diamond industries of India and Belgium, the Bharat Diamond Bourse (BDB) in the Bandra-Kurla Complex in Mumbai hosted Bart De Wever, Prime Minister of the Kingdom of Belgium — and took the bilateral trade ahead. BDB is the largest operational diamond bourse in the world.The visit took on added significance as it came soon after the signing of the Indo-EU Free Trade Agreement, which has paved the way for deepening ties and collaboration between the two countries, especially in the diamond and jewellery sectors.Emphasising the close bonds between India and Belgium, BDB President Anoop Mehta said the two countries share much more than a trading partnership as many Indian diamantaires, particularly from Gujarat, have made Antwerp their home. He added that when the BDB was being planned, a team visited Antwerp and drew lessons and inspiration that guided them in creating a truly international diamond trading centre in Mumbai.He added that Mehul Shah, Vice President, of BDB is currently the President of World Federation of Diamond Bourses, the global apex body of the trade since 1947 with its headquarters in Antwerp.Kirit Bhansali, the Chairman of Gem & Jewellery Export Promotion Council (GJEPC), said that the industry was proud to welcome the Prime Minister of Belgium at a time when India’s leadership role in international trade forums is helping shape the future of the industry.Bhansali stated that India–Belgium trade in gems and jewellery was around US$3.5 billion in 2025-26, and that the journey of many of the millions of diamonds cut and polished in India passes through Antwerp. “These are not merely figures. They represent businesses, livelihoods, and over five million direct and indirect jobs supporting families across India — all woven into this global value chain,” he added.Wever praised the role that both Mumbai and Antwerp play as the financial capitals of their countries, explaining that these cities are where the “money is made”. He said the Belgian government welcomed the recent Indo-EU FTA and believed it would boost trade by lowering costs and duties, digitizing and simplifying procedures and aiding interaction.“It is fitting that diamond industry provides a foundation for India-Belgium collaboration, because our ties are like ‘adamas’, the ancient Greek name for a diamond which means unbreakable. Our trade runs in two directions and brings advantages to both partners, so it will definitely thrive for at least another 100 years,” Mr Wever concluded.The PM and his delegation also visited different locations within the bourse complex, including the offices of The Gem & Jewellery Export Promotion Council, the official apex body of India’s G&J export industry that has over 11,000 exporter members spread across the country and spearheads interaction with the government as well as developing existing and new export markets.Another highlight was the interaction with the Mumbai Diamond Merchants Association, the oldest diamond trade organisation in the city which manages the massive 20,000 sq ft diamond trading hall in BDB on behalf of its 14,500 members, mainly smaller entrepreneurs and individual traders, who play a crucial role in the business.

Source: Deccan Herald