India, the world’s largest hub for diamond polishing, is intensifying its call for a domestic diamond export certification centre following the recent establishment of a certification facility in Botswana.
The global diamond trade has been navigating significant regulatory changes since the G7’s January 2024 ban on Russian-origin diamonds, extending this restriction to diamonds processed in intermediary countries such as India.
By March 2024, Antwerp, emerged as the sole global export certification centre, further complicating the supply chain for India’s diamond exporters.
While Botswana’s certification facility has provided relief to African diamond manufacturers and traders by reducing costs and streamlining compliance, Indian exporters must continue to send diamonds destined for G7 and EU markets to Antwerp for certification, incurring additional expenses and delays.
The Case for a Certification Centre in India
Despite polishing over 90% of the world’s natural diamonds, India lacks an export certification centre, leaving its traders at a distinct disadvantage. Industry leaders argue that a domestic facility would not only lower costs but also simplify adherence to increasingly stringent export requirements.
Efforts to address this gap are gaining momentum. The Gem & Jewellery Export Promotion Council (GJEPC) is actively advocating for a certification centre in India, with government support.
“The certification process is a matter of concern as we are the largest diamond manufacturer, polishing over 90% of the world’s diamonds. The government is raising the issue at the highest levels, including with the WTO,” said Sabyasachi Ray, executive director of the GJEPC.
