India’s Diamond Industry Touted as World’s Workshop by Belgium’s Prime Minister

During his Friday stop in Mumbai, Belgian Prime Minister Bart De Wever described India’s diamond sector as the "world’s workshop." Speaking at the India Diamond Bourse in the Bandra‑Kurla Complex, he commended the nation’s transformation from a low‑cost cutting hub to a centre of high‑precision, technology‑driven manufacturing.

De Wever highlighted that over 90% of the world’s diamonds are cut and polished in India, a statistic that reflects the country’s unmatched capacity and expertise. He also pointed out that India now ranks as the second biggest market for diamond jewellery, meaning the country not only supplies but also consumes a substantial share of global output.

The Belgian premier contrasted India’s massive processing capability with Antwerp’s role as a specialised market for premium and rare stones. He said the two ecosystems are mutually reinforcing: "India provides the scale and expertise, while Antwerp offers a global network that connects buyers and sellers worldwide."

The meeting brought together senior representatives from the diamond trade, port authorities and logistics firms to discuss ways to streamline operations and enhance value chains. De Wever also inaugurated a new HRD office aimed at bolstering the trade corridor between India and Belgium, signalling a long‑term commitment to partnership.

A key outcome of the dialogue was a fresh trade agreement that reduces import duties on a wide range of goods, including polished diamonds. De Wever called the reduction a "significant achievement" that will bring greater certainty to an industry where stability often outweighs monetary considerations.