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Diamond News Broadcast

Bharat Diamond Bourse Opens in Mumbai

Oct 27, 2010 7:00 PM   By Rapaport News
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After more than two decades in the making, the Bharat Diamond Bourse has opened and it brings India’s diamond hub closer to the financial district and to the Mumbai airport. The state-of-the-art, high-security complex also offers much needed trading and customs space and other amenities. The complex covers a 20 acre plot of land and has 1.8 million feet of office space above ground with nearly an equal amount under the buildings, touting it the largest world diamond trading center in the world. The eight-tower bourse brings together export and trading firms, financial institutions and diamond company services firms.  The $240 million project will be home to 90 trader-members and 1,400 provisional-members by December. Officials said that with the opening of this new center, India’s diamond industry could grow by 10 to 15 percent within the next five years.  Additionally in this broadcast, Rosy Blue India's Russell Mehta, senior partner with the firm, discusses some of the labor issues facing the local trade and shares thoughts on trading activity for the local markets.
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