India is ramping up efforts to set up its own Diamond Verification Center, which could begin operations as early as next year, alongside existing centers in Antwerp and Botswana, Diamond World reported.
The move comes in response to growing concerns in the diamond industry about the exclusive reliance on Antwerp as the only diamond verification hub. Currently, all rough diamonds must pass through Antwerp to ensure they are not sourced from Russia. As the world’s largest diamond manufacturer, India has already expressed dissatisfaction with this centralized system.
Sabyasachi Ray, Executive Director of the Gem & Jewellery Export Promotion Council (GJEPC), highlighted that this situation has become a significant issue for India, which is pushing for a more inclusive system and is conducting discussions with the World Trade Organization (WTO).
The European Commission recently announced that Botswana would also begin operating a diamond verification center next year, as part of efforts to diversify the process. However, India was notably absent from the Commission’s announcement.
Additionally, the Antwerp World Diamond Centre (AWDC) recently signed a memorandum of understanding with Angola, expressing its willingness to assist in establishing another verification point there.
