Kolkata: Belgian Prime Minister Bart De Wever on Friday inaugurated the renovated and expanded laboratory of HRD Antwerp at Mumbai’s Bandra Kurla Complex (BKC), as the Belgian diamond grading authority looks to deepen its presence in India amid rising demand for diamond and jewellery grading.
The expansion will increase HRD Antwerp’s research and grading capacity in Mumbai by 30%, allowing the laboratory to examine and grade up to 2,000 diamonds a day, compared with its earlier capacity. The company will also recruit 40 additional full-time employees to support the expanded operations.
India has become the largest market for HRD Antwerp, accounting for 59% of the group’s total revenue. The Indian business is expected to grow 15.4% this year, ahead of the company’s projected 12.6% growth globally.
Jewellery grading is emerging as a key growth driver. The segment accounts for 47% of HRD Antwerp’s total increase in revenue, highlighting the growing demand among jewellery manufacturers and retailers for independent grading and certification.
“As the authority in grading reports for natural diamonds and diamond jewellery, and in research into natural diamonds, we are already firmly established in India today,” said Paul De Wachter, CEO, HRD Antwerp. “India remains the world’s most important centre for diamond cutting. For a diamond laboratory such as HRD Antwerp, which provides cut natural diamonds with an independent and objective grading report, it is therefore essential to keep investing in this market.”
HRD Antwerp, a subsidiary of the Antwerp World Diamond Centre (AWDC), has been operating in India since 2012. It currently serves around 1,500 Indian clients, including jewellery manufacturers, retailers and companies involved in the production and trading of cut diamonds.
The company positions its grading reports as an independent assessment intended to provide transparency and assurance to the diamond and jewellery trade and consumers.
The Mumbai expansion was inaugurated during De Wever’s two-day visit to India and comes as Belgium and India seek to strengthen cooperation across the international diamond and jewellery trade.
Established in 1973, HRD Antwerp is headquartered in Belgium and specialises in diamond and jewellery grading as well as research into natural diamonds. Its increased investment in Mumbai reflects the importance of India not only as a major diamond cutting centre but also as a growing market for jewellery grading.
