DiamondBuzz
GJEPC engages Belgian diplomats and trade officials in key discussions at BDB
A high-level Belgian delegation arrived at the Bharat Diamond Bourse (BDB) in Mumbai on 3rd December, bringing renewed focus to the deep commercial and cultural ties that link India and Belgium’s diamond sectors.
The Belgian delegation included HE Ambassador William Asselborn, Director for Asia and Oceania at the Belgian Ministry of Foreign Affairs; Frank Geerkens, Consul General of Belgium in Mumbai; Brigadier General Mario Engels, Defence Attaché from the Embassy of Belgium in New Delhi, along with senior representatives from Flanders Investment and Trade.Eva Verstraelen and Filippe De Potter.
Kirit Bhansali, Chairman, GJEPC, and Shaunak Parikh, Vice Chairman, GJEPC, joined Mehul Shah, Vice President, BDB, and other bourse officials in welcoming the delegation for a formal interaction and tour of the world’s largest diamond trading complex.
“Our relationship with Belgium has been built on trust, respect, and years of working together. Antwerp and Mumbai have grown alongside each other, supported by our diamond businesses, our artisans, and the many Indian families who made Antwerp their home. As the industry evolves, there is real opportunity for us to work even more closely in technology, new ideas, and smoother trade, strengthening the future of our diamond partnership.” Kirit Bhansali said.
In a clear sign of the growing strategic importance of lab-grown diamonds for technological applications, the Spanish government has committed a massive EUR 750 million (approximately $813 million) investment to Diamond Foundry’s new manufacturing plant in Trujillo.
This significant funding injection is specifically earmarked for the production of semiconductor-grade, lab-grown diamonds. It dramatically boosts the project’s war chest, adding to the initial EUR 80 million in funding that the European Union had already pledged last December.
The Trujillo facility is poised to become the largest of its kind in Europe, specializing in high-tech, industrial, and semiconductor-grade diamonds.
- Projected Output: When operations begin—anticipated sometime between 2027 and 2029—the plant is expected to yield over 4 million carats annually, with production slated for substantial increases thereafter.
- Total Project Value: The full cost of the Trujillo project is reported to be a staggering EUR 2.35 billion.
This monumental investment underscores a key trend in the lab-grown diamond sector: a heavy pivot away from the jewelry market and toward high-value industrial and technological applications.
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