This move comes in response to mounting concerns within the diamond industry regarding the current sole reliance on Antwerp as the exclusive verification hub.
Currently, all rough diamonds, regardless of their origin, must pass through Antwerp for certification to ensure they are not sourced from Russia.
However, India, as the world’s leading diamond manufacturer, is voicing dissatisfaction with this centralized process. According to Sabyasachi Ray, Executive Director of the Gem & Jewellery Export Promotion Council (GJEPC), the current certification model has become a significant concern. “As the largest producer of polished diamonds, accounting for over 90 percent of global output, India needs a more inclusive approach,” Ray told the 'Times of India'. "The government is addressing this issue at the highest diplomatic levels, including discussions with the World Trade Organization (WTO)."
A significant development came last week when the European Commission announced Botswana would begin operating an additional diamond verification point starting next year. The move follows a broader push to diversify the verification process, with the possibility that other African diamond-producing nations like Namibia and Angola could soon follow suit. However, India, the dominant force in the global diamond-cutting and polishing industry, was not included in this expansion.
In a related development, the Antwerp World Diamond Centre recently signed a memorandum of understanding with Angola, signalling its willingness to help set up a new verification point there. This move raises further questions about why India, which handles such a substantial share of global diamond processing, was overlooked in the European Commission’s announcement.
India's call for its own verification centre highlights a growing demand within the industry for a more balanced and efficient system, one that reflects the country’s critical role in the global diamond trade. As discussions continue, the GJEPC is optimistic that India’s position will be considered at international forums, ensuring that the country’s interests are properly represented in the evolving global diamond market.
