Jains from the small Gujarati town of Palanpur now dominate the worldwide diamond wholesaling business, taking in 65% of the revenues of the diamond capital in Belgium:
In what was once a predominantly Jewish neighborhood near Antwerp’s central station, young Indians in Armani suits haggle with Hasidic diamond buyers in long black coats, side curls and skullcaps. Hoveniersstraat, a street once celebrated for its kosher restaurants, now offers the best curry in town.
Eighty percent of diamonds worldwide now pass through Indian hands:
Indians like Mr. Shah gained a commercial edge over the Jews by sending their rough diamonds for finishing work to family-owned factories in Bombay and the northern Indian state of Gujarat, where labor costs are as much as 80% lower than in Antwerp… The Indians also proved canny at polishing and cutting the lower-quality rough diamonds that Jewish traders typically overlooked… “We turned cotton into silk…”
India now employs nearly a million diamond polishers. Meanwhile, Jewish diamantaires had some culturally-specific business issues:
Indians… aren’t required by their religion to close their businesses from sundown Friday to sundown Saturday… Many [Jews] were Holocaust survivors afraid to part with their assets or send very expensive valuables far away… (WSJ)
Nadeem Aslam’s tale of honor killings, Maps for Lost Lovers, has been placed on the long list for the Booker Prize this year (via


