India to increase exports with Bharat Diamond Bourse (BDB)

Oct. 19, 2010 07:36AM PST

Money life Digital team reports  that the Bharat Diamond Bourse, the world’s largest diamond trading centre, has finally opened in Mumbai after 20 years of developement.  The industry minister expects that, with the opening of this centre, exports will increase significantly. The story is quoted as saying: // “In 2009-2010, the export of diamonds from Mumbai was […]

Money life Digital team reports  that the Bharat Diamond Bourse, the world’s largest diamond trading centre, has finally opened in Mumbai after 20 years of developement.  The industry minister expects that, with the opening of this centre, exports will increase significantly.

The story is quoted as saying:

"In 2009-2010, the export of diamonds from Mumbai was Rs61,000 crore and I am hopeful that within a year, this bourse will achieve a turnover of over Rs1,00,000 crore," Mr Sharma said in his address at the inaugural function. That's a growth of over 60% that hasn't been seen recently. In 2009-10, gems and jewellery exports from India registered a growth of 18.23% at $29 billion (about Rs1,30,000 crore). Cut and polished diamonds make up a majority 60% of this business.

For the full story, click here.

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