The passion of the Indian diamond is neither new nor endangered

"The centre of the world of the diamond": this slogan adopted by Bharat Diamond Exchange, Diamond of Bombay Stock Exchange, says much about its ambitions. The market, which opened this weekend a real "city of the diamond" in the financial capital of the country, wants to impose as the global industry leader.

Nine towers connected, 180.000 metres square surface, all professions and gathered associated services, trading to the size of the stones through banks and customs, the complex of the diamond located in the new district of the Affairs of Bandra-Kurla in Bombay metropolitan, sees great. Project for many years, as a whole, which should accommodate up to 25,000 people each day when it will be fully operational in a few months, to reflect the weight of the India in an area where one thinks more spontaneously in Antwerp and Tel Aviv.

The passion of the Indian diamond is neither new nor endangered. In a country where, traditionally, women wore their dot on it - the simple ring gold for modest families to sumptuous adornments of precious stones for the preferred-, gold and diamonds remain a choice for Indian investment. The India is the third consumer world of diamonds (with 8), behind the United States and the Japan, and its share should rise to 11 by 2016. De Beers, the world's leading producer, also cites the India and China as the two main drivers of growth in the coming years.

This trend has been the development of a significant domestic industry. Diamond Stock Exchange officials unidentified flattering statistics: the India polished 14 diamonds to 15 in the world, size 95 of the global number stones and 70 in value. Approximately 1.3 million people live in this industry in India, especially in the Western State of Gujarat, the cradle of the size of the stones.

La Bharat Diamond Bourse, which has invested more than 200 million dollars in its new facilities, to further strengthen its market share. Between 27 and 28 million dollars, its turnover is expected to grow from 10 to 15 per year over the next five years, provides for the Exchange. The ambition is now "to get the Israel and Belgium traders to deal here", says Anoop Mehta, President of the BDB, which wants to create a "mark India" in the world of diamonds.

For the country, the issue is to recover a portion of the market share of high value-added. Currently, Antwerp dealers tend to retain in them the most beautiful stones and trimmed in India those of lesser value. By creating a city of the new diamond and beautiful scale, Indian professionals hope attract a larger proportion of high-end home.

The paradox is that if the operation succeeds, the development of the diamond of Bombay Stock Exchange will be at the expense of Indian professionals... The Gujeratis indeed gradually took the top in recent years in Antwerp, imposing to the traditional community of Jewish diamond. The Belgian capital of the diamond believes in any case have the means to withstand the onslaught of Mumbai with its tradition of multiculturalism, administrative and tax regimes significantly lighter and adapted as in India, a security and leading infrastructure, etc.