DiamondBuzz
AWDC Hails EU-India Trade Pact, Sees Strong Export Boost for Antwerp-Polished Diamonds in India
Tariff cut on Antwerp-polished diamonds seen boosting exports and strengthening Europe’s position in India’s fast-growing jewellery market.
The Antwerp World Diamond Centre (AWDC) has welcomed the conclusion of the EU–India trade agreement. The pact provides for a reduction of India’s import duty on naturally polished diamonds of European origin, from 5.5% to 2.5%. AWDC said the tariff reduction follows its sustained lobbying in close coordination with the European Commission.
“We are extremely pleased with the outcome of the long-awaited trade agreement between Europe and India,” said Karen Rentmeesters, CEO of AWDC. “Thanks to AWDC’s intensive and sustained lobbying, in close cooperation with the European Commission, India’s import duty on polished diamonds has been reduced from 5.5% to 2.5%. This is an important boost for the Belgian diamond sector and is expected to have a positive impact on exports of Antwerp-polished diamonds to India.”
She added that the agreement strengthens Antwerp’s competitive position as a polishing hub. “Diamonds polished in Europe will now be able to enter India at a more favourable tariff than before, and also compared to other major trading hubs. India is one of the fastest-growing consumer markets for jewellery and therefore also offers strong prospects for European diamonds.”
Rentmeesters also highlighted the importance of tariff stability. “Since 2012, we have seen the tariff fluctuate from 2% to 2.5%, then to 5% and even 7.5% in 2018, before falling again to 5.5% in 2022. This lack of predictability created uncertainty within the sector. The fact that the tariff is now anchored in a trade agreement provides much-needed stability in a period that — partly due to geopolitical developments — is particularly challenging for the diamond sector, as it is for many other sectors.”
Trade agreements need to be ratified by European and national parliaments before entering into force. This procedure that usually takes multiple months or sometimes even years, AWDC noted.
DiamondBuzz
Tiffany ring with a 10.02-ct emerald cut diamond is leading a Christie’s online auction, expected to sell for $500,000
As the spring season breathes new life into the world of fine art, Christie’s is proud to announce its first jewelry event of the year: the Jewels Online sale. Running from March 9 through March 19, this exquisite 156-lot curation invites collectors to journey through a gallery of peerless stones, legendary signatures, and storied provenance. A Tiffany ring with a 10.02-ct emerald cut diamond is leading a Christie’s online auction and is expected to sell for $500,000 to $700,000.The Type IIa stone is D color, IF clarity, set in platinum and signed Tiffany & Co.
The auction further dazzles with a pair of earrings that define celestial symmetry. Featuring two Type IIa round brilliant-cut diamonds weighing 5.13 and 5.04 carats respectively, these D-color gems radiate a fiery brilliance. Estimated at $300,000 – $500,000, they represent a rare opportunity to acquire stones of such matched magnitude and VVS2 clarity.
In a poignant tribute to glamour, Christie’s is honored to present selections from The Collection of Elizabeth Taylor. These intimate treasures offer a glimpse into the lavish world of the silver screen’s ultimate jewelry connoisseur:
- The Golden Evening Bag: A sumptuous diamond and gold vessel of elegance (Estimate: $10,000 – $15,000).
- The Ruby Suite: A vibrant, matching set of ruby and diamond beaded necklace and earrings (Estimate: $15,000 – $20,000).
Beyond these headliners, the sale celebrates the “Great Houses” of jewelry design. Connoisseurs will find meticulously crafted pieces from:Cartier, Van Cleef & Arpels. David Webb & Seaman Schepps
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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.