Dubai’s DMCC Visits Bharat Diamond Bourse: Strengthening Global Diamond Trade Relations

Bharat Diamond Bourse (BDB) and Gem & Jewellery Export Promotion Council (GJEPC) hosted DMCC (Dubai Multi Commodities Centre) to strengthen global diamond trade relations between two leading hubs
Dubai’s DMCC Visits Bharat Diamond Bourse: Strengthening Global Diamond Trade Relations

Bharat Diamond Bourse (BDB) & Gem & Jewellery Export Promotion Council (GJEPC) proudly hosted DMCC (Dubai Multi Commodities Centre), in a visit aimed at strengthening the global diamond trade and fostering deeper ties between two of the world’s leading diamond trade hubs.

The visit from Dubai was led by H.E. Ahmed Bin Sulayem, KP Chair, Executive Chairman and Chief Executive Officer of DMCC, and joined by Dr. Martin Leake, Special Advisor – Precious Stones, alongside a broader UAE delegation.

The high-level visit underscores the growing synergy and cooperation between BDB and DMCC, two of the world's leading diamond trading hubs.

During the tour of the BDB's state-of-the-art facilities, Ahmed Bin Sulayem engaged in fruitful discussions with key stakeholders, exploring opportunities for enhanced collaboration and mutual growth in the diamond industry.

Bin Sulayem extended an invitation to BDB and GJEPC for the upcoming KP Plenary meeting, which will be followed by the Diamond Conference on the 11th November 2024. With over 24,000 registered companies, DMCC represents 11% of Dubai’s annual foreign direct investment, and 7% of its GDP.

Bharat Diamond Bourse (BDB) President Mr. Anoop Mehta highlighted the need for banking reforms, noting that diamond traders in Dubai face significant challenges in opening new accounts and managing routine operations.

During the meetings, Mr. Bin Sulayem expressed his admiration for BDB's infrastructure and its vital role in the global diamond supply chain. "Bharat Diamond Bourse is a testament to India's significant contribution to the diamond industry. Our visit here reaffirms our commitment to strengthening partnerships and creating synergies that benefit the global diamond trade," he stated.

The delegation was welcomed by Mr. Anoop Mehta, President of Bharat Diamond Bourse, Mr. Mehul Shah, Vice President Bharat Diamond Bourse along with other prominent members of the BDB. The hosts provided insights into BDB's operations, highlighting its advancements in technology, security, and sustainability practices.

"We are honored to welcome H.E. Ahmed Bin Sulayem and his team to Bharat Diamond Bourse. This visit marks a significant step towards fostering stronger ties and exploring collaborative avenues that can drive the diamond industry forward," said Mr. Mehul Shah. "

We look forward to continued engagement and cooperation with DMCC to support the growth and development of the global diamond market. Both sides are excited to explore more opportunities to collaborate as a result of the CEPA agreement signed two years ago between India and the UAE and they were impressed with the plans for the Indian Jewellery Park in Mumbai.

The visit concluded with a tour of BDB's trading floor, where H.E.Mr. Bin Sulayem and his team observed the vibrant trading activities, gaining firsthand experience of the dynamic environment that BDB nurtures.

This visit highlights the ongoing commitment of both BDB and DMCC to support and enhance the global diamond trade, ensuring a bright and sustainable future for the industry.

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