India has played a significant role in the global diamond trade for centuries. Here are some key facts about India’s role in the diamond industry:
Diamond Cutting and Polishing:
India is one of the largest diamond cutting and polishing centres in the world, with the city of Surat in the state of Gujarat being a major hub. Indian diamond cutters are known for their skill and precision, and they are responsible for cutting and polishing many of the world’s finest diamonds. In fact, it is estimated that around 90% of the world’s diamonds are cut and polished in India.
Diamond Trading:
India is also an important centre for diamond trading. The country has a well-established diamond exchange, the Bharat Diamond Bourse, which is located in Mumbai and is the largest diamond exchange in the world in terms of trade volume. Many diamond traders from around the world come to India to buy and sell diamonds.
Diamond Jewellery Manufacturing:
India is a major manufacturer of diamond jewellery, with the city of Mumbai being a prominent centre for jewellery production. Indian jewellery designers are known for their intricate designs and use of other precious gemstones, and the country produces a wide range of diamond jewellery, from simple stud earrings to elaborate necklaces and bracelets.
Diamond Export:
India is also a major exporter of diamonds, with the country exporting around $24 billion or Rs. 2 lakh crores worth of diamonds annually. The United States is the largest market for Indian diamond exports, followed by Hong Kong and China.
In conclusion, India plays a critical role in the global diamond trade, from diamond cutting and polishing to diamond trading and jewellery manufacturing. The country’s expertise and skill in these areas make it an important player in the industry and a major contributor to the global economy.
Contact Nice Diamonds for ‘made in India’ diamond jewellery for your store. Using the best quality diamonds and handled by highly experienced artisans, you will find the beautifully crafted jewellery products with us.
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