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Indian Prime Minister Modi receives Antwerp Diamond Industry
This underlines the importance of diamonds in trade relations between Belgium and India
By: Diamond World News Service
Mar 31 2016 9:58AM
Reference: 12847  

As part of his visit to Belgium, Indian Prime Minister Modi will personally welcome members from the Antwerp World Diamond Centre’s Board of Directors. This initiative underlines the importance of diamonds in trade relations between Belgium and India.

Ari Epstein, CEO of AWDC: “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.”

Antwerp held a trade turnover of $58.8 million in 2014. Also, nearly 75 percent of all rough diamonds traded in Antwerp are exported to India for processing into polished diamonds. Annually, Antwerp exports 85 million carats of diamonds to India, valued at $11 billion.

Belgium is one of Europe’s top three trade partners with India, and is the second largest exporter of goods to India. 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.

Around 84 percent of all rough diamonds and 50 percent of all polished diamonds pass through Antwerp. Diamonds represent 5 percent of the total Belgian exports and 15 percent of all Belgian exports outside the EU, making diamonds the most important export product outside the EU.

Antwerp World Diamond Centre (AWDC) is an industry-established foundation, whose mission is to serve and support the diamond business in Antwerp.

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