During a visit to Belgium, Indian Prime Minister Narendra Modi has met with members of the Board of Directors of the Antwerp World Diamond Centre (AWDC), the umbrella organization for the Antwerp diamond industry. The meeting signified the importance of diamonds in the trade relations between the two countries, according to a press release from the AWDC.
Belgium is one of Europe’s top three trade partners with India, and is the second largest exporter of goods to India. This is primarily attributable to the diamond trade. The diamond trade accounts for approximately 82% ($7.85 billion) of all Belgian goods exported to India. 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.
“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,” enthuses AWDC CEO Ari Epstein.
