India to Antwerp, this Story of Diamonds

Indians have come to control almost three-quarters of Antwerp’s diamond industry.(Reuters/Finbarr O'Reilly)

Indians have come to control almost three-quarters of Antwerp’s diamond industry. (Reuters/Finbarr O’Reilly)

What New York is to the world’s money markets, Antwerp is to the global diamond trade. Antwerp is also the centre of the secondary or rough diamond market. More than 50% of global production of rough, polished, cut and industrial diamonds passes through Antwerp. Around 80% of the world’s rough diamonds are handled in Antwerp generating an annual turnover of some €30 billion. The most valuable diamonds are usually cut in Antwerp, but as the economy globalises Antwerp remains a nerve centre with much of the actual diamonds shipped out to other, cheaper locations.

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