India launches World’s largest diamond exchange
World’s largest diamond exchange took shape at a cost of $250 million.
October 24, 2010 12:27 by Rasha Reslan
Gold has been traditionally popular for its religious significance in India, yet with soaring gold prices, the yellow metal has been replaced by diamonds as the country’s favorite.
India, the world’s most successful new comer in the diamond industry, leads in every aspect of the business with 11 out of 12 diamonds in the world being cut, polished and processed there.
The world’s largest diamond exchange opens in Mumbai this week amid hopes that the country will become a trading hub in the diamond trade business, challenging the dominance of traditional centers.