The Hon’ble Prime Minister of India, Shri Narendra Modi met with representatives of the Antwerp Diamond trade while on his state visit to Belgium yesterday. This included a special session with the Board of Directors of Antwerp World Diamond Centre (AWDC), the apex body of the trade in Belgium. The meeting was planned keeping in mind the importance of diamonds in the trade relations between Belgium and India.

While Antwerp is the most important global trade center for rough and polished diamonds, with trade turnover of $58.8 million in 2014, India is the absolute leader with regard to diamond manufacturing. Nearly 75% of all rough diamonds traded in Antwerp are exported to India to be processed into polished diamonds. Annually, Antwerp exports 85 million carats of diamonds to India, valued at $11 billion.

Belgium is one of Europe’s top three trade partners with India, and is the second largest exporter of goods to India, primarily on account of the diamond trade. Diamonds account for approximately 82% ($7.85 billion) of all Belgian goods exported to India.

Commenting on the relationship between the two countries, External Affairs Ministry Spokesperson Vikas Swarup in a tweet quoted the PM as saying, "Diamonds are, of course, an old link between us. It provides employment to many in India."

Ari Epstein, CEO of AWDC: “Trade relations between Antwerp and India are excellent. The fact that Indian Prime Minister Modi has recognized this explicitly by inviting us to meet him personally is therefore greatly appreciated in the Antwerp diamond industry.”

The Indian PM also addressed a gathering of the Indian diaspora at the Brussels Expo during his visit to the city. Many Indian diamantaires travelled from Antwerp to Brussels to participate in the event. Media reports state that in separate discussions with the trade during the evening event, the PM praised the industry for its success and assured it of support in its future endeavours.

Pic Caption: The Indian PM and his team at a meeting with the Board of Directors of AWDC (Courtesy PIB)