BDB Planning International Diamond Week

With News 1Mumbai: India’s Bharat Diamond Bourse (BDB) is planning an International Diamond Week in 2015, Mr. Anoop Mehta, President of the BDB has said in an interview with Rapaport.

Stressing about the BDB’s future plans, Mr. Mehta said, “We are planning an International Diamond Week, which will take place in the bourse sometime in early 2015. It will have about 300 booths and the offices in the complex will act as cabins for the week of the show to satisfy any excess demands for space. We are also planning to set up rough diamond viewings ahead of tenders. The government has recognized the importance of allowing mining companies to bring in rough diamonds tax-free for viewing purposes and in principle has agreed to permit it. After these viewings, an online auction can take place for the rough. We will not hold any auctions but we will provide the viewing space in a government-designated area to enable companies to show their rough.”

“The BDB, together with the Gem and Jewellery Export Promotion Council (GJEPC), is preparing 12 to 15 show rooms that the mining companies could rent for viewings. The rooms will be ready around March of next year, so it will soon be a reality. We have already spoken to three or four major diamond miners and a few of the major tender and auction experts and they are eager to conduct viewings between six and 10 times a year. Mumbai is very appealing for them because you can’t get better exposure to buyers. Everyone from the smallest traders to the largest manufacturers is based here,” he added.