(Press Release)
Indian Prime Minister Modi recently paid a visit to Belgium to personally welcome members from the Antwerp World Diamond Centre’s board of directors. AWDC is the umbrella organization for the Antwerp diamond industry.
Belgium is one of Europe’s top three trade partners with India and is the second-largest exporter of goods to India. This is primarily attributable to the diamond trade. The diamond trade accounts for approximately 82 percent ($7.85 billion) of all Belgian goods exported to India. When only taking the Flemish region into consideration, the diamond trade represents as much as 88 percent of exports to India.
While Antwerp is an important global trade center for rough and polished diamonds, with trade turnover of $58.8 million in 2014, India is a leader with regard to diamond manufacturing. Nearly 75 percent of all rough diamonds traded in Antwerp are exported to India to be processed into polished diamonds. Annually, Antwerp exports 85 million carats of diamonds to India, valued at $11 billion.
“Trade relations between Antwerp and India are excellent. The fact that Indian Prime Minister Modi has recognized this explicitly by inviting us to meet him personally is therefore greatly appreciated in the Antwerp diamond industry,” says Ari Epstein, CEO of AWDC.
The Antwerp World Diamond Centre (AWDC) is an industry-established foundation whose mission is to serve and support the diamond business in Antwerp. Eighty-four percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp.