2001

India Sets up Venezuelan Diamond Bourse

Summer 2001

India’s Diamond and Gem Development Corporation is in the process of setting up a diamond bourse in Venezuela to help boost the country’s diamond mining ventures.

Venezuela is South America’s second largest diamond producer.

The bourse is likely to be set up in the country’s capital, Bolivar. Among the changes the venture is expected to bring is a taxation system for the country’s diamond industry and the establishment of a cutting and polishing center there.

The cooperation between the two countries is part of a larger move on India’s part to growing contracts and consulting projects in various industries throughout Latin America.