RAPAPORT... The Antwerp World Diamond Centre (AWDC) hosted what they termed "an intimate diamond luncheon" in the presence of  King Albert II of Belgium yesterday at the Oberoi Hotel in Mumbai.

The event, part of the king’s state visit to India, highlighted the close and historical ties between the diamond industries in Belgium and India.  

Freddy J. Hanard, chief executive officer (CEO) of AWDC, spoke at the luncheon, saying that “[t]he diamond world is facing universal challenges. Diamond producers have been changing their strategy; the diamond market has evolved; the branding of diamonds is being transformed. I believe that Antwerp and Mumbai are complementary partners in this changing environment....We see India as a potential growth market and its cooperation with Antwerp is very important to us.”

For decades the Antwerp diamond community has been the single-largest supplier of rough diamonds to India's trade, accounting for over 50 percent of the rough processed in India. In 2007, India was Antwerp’s largest producer in terms of carat volume, with 33 percent of the country's total imports of polished diamonds, and was the Belgium's second-largest producer in terms of value, accounting for 17 percent of imports.
 


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