In the presence of Belgian Prime Minister Bart De Wever, HRD Antwerp, Europe's leading authority in diamond and jewellery grading and a subsidiary of the Antwerp World Diamond Centre (AWDC), today officially opened its renovated and significantly expanded laboratory in the Bandra Kurla Complex (BKC) in Mumbai, India. Thanks to the expansion, HRD Antwerp is increasing its research capacity in Mumbai by 30%. The official opening, which takes place as part of a two-day visit by Prime Minister Bart De Wever to India, marks an important next step in the growth of HRD Antwerp in India, one of the world's leading centres for the trade and cutting of natural diamonds.
For HRD Antwerp, a grading report is not an administrative document but a guarantee of trust, transparency and authenticity. As an independent, neutral party between science, industry and consumer, HRD Antwerp is a worldwide guarantor of objective and reliable diamond and jewellery grading, a principle the organisation has upheld since its founding. HRD Antwerp was established in 1973 and has been active in India since 2012. Today it serves around 1,500 clients there, including jewellery manufacturers and retailers, as well as companies that produce and trade cut diamonds.
The Indian branch now accounts for 59% of HRD Antwerp's total group revenue and is expected to grow by 15.4% this year, compared with a projected growth of 12.6% for the group as a whole. Jewellery grading is an important growth driver in this respect: as much as 47% of HRD Antwerp's total revenue increase comes from that segment.
The Indian branch now accounts for 59% of HRD Antwerp's total group revenue and is expected to grow by 15.4% this year, compared with a projected growth of 12.6% for the group as a whole. Jewellery grading is an important growth driver in this respect: as much as 47% of HRD Antwerp's total revenue increase comes from that segment.
Thanks to the expansion, HRD Antwerp in Mumbai can now examine and grade up to 2,000 diamonds per day, a capacity increase of 30%. To support this additional capacity, HRD Antwerp is recruiting 40 additional employees to work full time. The investment underlines HRD Antwerp's confidence in the Indian market and strengthens the longstanding cooperation between Belgium and India within the international diamond and jewellery sector.
During the opening, Prime Minister Bart De Wever was given a tour of the renovated office. He was shown the diamond grading process and was able to examine a diamond up close himself using a microscope. The demonstration was provided by HRD Antwerp's Indian experts.
Alongside the Prime Minister, also present were Paul De Wachter, CEO of HRD Antwerp, Ramakant Mitkar, Managing Director of HRD Antwerp India, Chirag Shah, Vice Chairman of AWDC, Didier Vanderhasselt, Belgian Ambassador to India, and Frank Geerkens, Consul General of Belgium in Mumbai.