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Festive Mood At Bharat Diamond Bourse As
Bharat Diamond Week Event Opens


Mr Anoop Mehta [Left] and Mr Mehul shah [Center]
with the guests of honor at the inauguration

There was a festive atmosphere at the Bharat Diamond Bourse (BDB) on October 14, with the opening of the Bharat Diamond Week (BDW).

Around 1,000 visitors are expected to attend the show, said Bharat Diamond Bourse Vice-President Mehul Shah, who heads the Bharat Diamond Week. "We are delighted to be holding this polished diamond fair again," he told participants at the opening ceremony.

He added that the BDB has already decided to hold another Bharat Diamond Week in October 2020, as a mark of its confidence in the theme and concept of the show.

Shanghai Diamond Exchange President Lin Qiang, and newly appointed vice-president of Alrosa, Sergey Agureev, were the guests of honour at the Diamond Week as they jointly opened the fair.

Lin Qiang said: "This is a sign of the deep friendship and partnership between our two bourses. President Xi of China and Prime Minister Modi met just last week, and I hope that our countries and diamond industries will continue to cooperate for our joint benefit."

Meanwhile, Agureev also praised the BDW, and added: "There are issues affecting our industry deeply at the moment. These include an over-supply of polished diamonds on the market and the ongoing problem of a lack of financing. But at Alrosa, we will launch our new marketing initiative. We will start it in the United States and then move to India. The BDW and our initiative are the best way to boost morale and bring about trading. We expect a recovery in the market, and I urge you not to lose your confidence in our industry."

Mehul Shah told the audience: "The 3rd Bharat Diamond Week is one of the major events for the midstream in our industry this year and also the last chance to stock up on inventory before Diwali and the holiday season. Our aim is to provide opportunities for the Mumbai diamond community, particularly the small and medium enterprises (SMEs), to sell diamonds. Visitors will be able to source literally every type of diamond both at the Diamond Week and from our other 3,000 Bharat Diamond Bourse member companies."

BDB President Anoop Mehta was also upbeat about the opportunities presented by the Bharat Diamond Week. "Close to 90% of all the world's polished diamonds are manufactured in India, so the variety of goods on offer is vast. In addition, the show falls just before the Diwali festival and shutdown, so many manufacturers will be offering great deals on their polished goods. We are showing the world the very large range of diamonds we can supply. We want to connect buyers and suppliers in a comfortable and efficient environment in order to save them time and expense. The Bharat Diamond Week is a perfect venue for companies to source their diamond demands," said Mehta.

The 2019 Diamond Week follows the first two such diamond fairs which held last year. There are delegations of buyers from China, Australia, Nepal, South Korea, USA, Saudi Arabia and many other Asian countries, which has increased the number of visitors and buyers taking part.