Mumbai is the Largest Diamond Market

India is the largest processing company when it pertains to that action being taken on diamonds. A large majority of diamonds is found in Africa, but they are often sent to India for processing. Their export business in the diamond industry provides jobs for many and helps prop up a weak economy. In Mumbai, it is hard to make enough money to feed your family, but the diamond industry helps the citizens accomplish this with hard work and diligence. The diamonds that come through Mumbai and other large cities allow many to work less hours than before and make just as much money. There are decent profit margins when considering the processing of diamonds. Recent strides have been made to make Mumbai the largest diamond market in the world. The Bharat Diamond Bourse is a project that the Indian people have been working on for almost two decades and it is finally ready to be unveiled.

The Bharat Diamond Bourse, or BDB, as it is sometimes is called will be the center for exporting diamonds in Mumbai. It was started almost twenty years ago and has cost its investors over 10 billion rupees. It is currently located on 20 acres of land, has eight towers, each nine stories high. This is a serious center of action for the diamond trade as it includes its own customs department and exporting area as well as another 20 million square feet that will be used for trade shows, auditoriums and theaters. With over 2,500 offices, the BDB can provide details about any of the diamonds coming through its doors and offers support for other people wanting to export diamonds through the city of Mumbai. The BDB will open its doors to many of the local merchants to have access to the facilities and services it will need to export diamonds to the retail and wholesale market.

The president of the BDB estimates growth to reach 10% year after year in the diamond trading industry due to this project and its overwhelming size and magnitude. This infrastructure will greatly help with the efficiency at which exporters are able to work, cutting down on expenses over time and increasing profits to a large degree. With over 2,000 security cameras, the BDB is also safe and no thefts are expected as there will be millions of dollars worth of diamonds in the compound at any time, which poses a theft risk in a country as poor as India. These security measures are as secure as any and are up to and match global standards in this area of high concern for all involved. Hopefully, this center will change the face of the diamond export business, making it more efficient and even help to drop prices as the cost is covered over the years. They must recoup their initial layout, so it may take years, even decades for the center to be profitable in the way it is intended, but that remains to be seen.