Function

The Indian diamond trade is represented by several overlapping trade associations, with the principal bodies being the Gem and Jewellery Export Promotion Council (GJEPC), established in 1966 under the Ministry of Commerce and Industry; the Bharat Diamond Bourse, the diamond exchange established in 2010 in Mumbai; the Surat Diamond Bourse, opened in 2023 as the new physical centre for the Surat cutting industry; and various regional and specialty associations representing specific segments.

The associations function as industry advocacy bodies, statistical reporting bodies, training and certification providers, and convening centres for the industry's commercial relationships. They engage with the Indian government on policy questions, with international trade bodies on cross-border issues, and with major external trade partners (the Antwerp World Diamond Centre, the Israel Diamond Exchange, the World Diamond Council, the Kimberley Process Certification Scheme).

The GJEPC

The Gem and Jewellery Export Promotion Council is the principal export-promotion body, with member firms across the diamond cutting, gold jewellery, coloured-stone and pearl segments. The council coordinates Indian participation in international trade shows, publishes industry statistics, manages export promotion programmes, and engages on trade policy.

The Bharat Diamond Bourse

The Bharat Diamond Bourse in Bandra-Kurla Complex, Mumbai, is the world's largest diamond exchange by floor area, replacing the older Opera House district as the centre of the Indian diamond trade. The bourse provides physical trading floors, secured storage, banking facilities, and customs clearance services for member firms.

The Surat Diamond Bourse

The Surat Diamond Bourse, opened in late 2023, is intended as the new physical centre for the Surat cutting industry, which processes approximately ninety percent of global diamond pieces by count. The Surat bourse is located near the diamond cutting clusters and is intended to consolidate trading, finishing and export activities at a single integrated facility.