Rapaport Diamond Corporation, USA, has chosen to host its first Pre-Auction Diamond Viewing Event in India in over 15 years, signalling a potential shift in the geography of global diamond trading as the industry begins leveraging India’s policy reforms and world-class infrastructure. The four-day viewing, being held from 13 to 16 July 2026 at the Bharat Ratnam Mega Common Facilitation Centre (Mega CFC) in SEEPZ, Mumbai, is widely seen as the first major international auction event to take advantage of India’s newly expanded Free Trade Warehousing Zone (FTWZ) framework.
The Rapaport Melee Auction, featuring nearly 14,000 carats of pre-owned diamonds from the US, has been made possible by the Government of India’s decision to expand the FTWZ framework at the Mega CFC. The reform permits the warehousing, viewing and exhibition of gems and jewellery products within the FTWZ, enabling international pre-auction inspections to be conducted in India for the first time. The Government extended FTWZ benefits to jewellery following representations by GJEPC, removing a long-standing barrier that had previously prevented global auction houses from conducting such activities in India.
The inauguration was graced by Shri Dnyaneshwar Patil, IAS, Development Commissioner, SEEPZ-SEZ, in the presence of Colin Shah, Chairman, Working Group, Bharat Ratnam Mega CFC; Bharat Ghori, Co-Convener, MSME, GJEPC; Sabyasachi Ray, Executive Director, GJEPC; and Ravi Menon, CEO, Bharat Ratnam Mega CFC.
In an official message, Hon’ble Minister of Commerce & Industry, Shri Piyush Goyal, stated, “This landmark event reflects the remarkable transformation of India’s gem and jewellery sector under the dynamic leadership of our Hon’ble Prime Minister Shri Narendra Modi ji. Guided by his vision of positioning India as a global manufacturing and trading powerhouse, the Government has introduced progressive reforms to strengthen the trade ecosystem, enhance ease of doing business and develop world-class infrastructure, including reforms under the Free Trade Warehousing Zone (FTWZ) framework, supported by facilitative measures implemented by SEEPZ-SEZ. Rapport Corporation’s decision to host this event in India is a strong endorsement of the global diamond industry’s confidence in India’s transparent policy environment, modern infrastructure, skilled workforce and leadership across the entire diamond value chain.”
Shri Dnyaneshwar Patil, IAS, Development Commissioner, SEEPZ-SEZ, said the event marked an important milestone for the facility. “We are very proud that, for the first time in India, the Bharat Ratnam Mega CFC is organising this Rapaport diamond viewing exhibition. I congratulate all the participating buyers from around the world, welcome everyone to SEEPZ, and hope this becomes a successful and sustainable event in the years ahead.”
Kirit Bhansali, Chairman, GJEPC, said, “The inaugural Rapaport Melee Auction at the Bharat Ratnam Mega CFC marks a turning point for India’s gem and jewellery industry. The inclusion of jewellery under the FTWZ framework, a key recommendation put forward by GJEPC, has created the conditions for global auction houses to operate from India. As the world’s largest diamond manufacturing centre, India is now poised to become a preferred destination for international diamond trading, viewing and auction activities.”
In a LinkedIn post, Dan Mano, CEO, Rapaport, said the decision to bring the viewing auction to India aligns with India’s ambition to become a global trading hub. Mano also emphasised that the initiative was made possible through close collaboration between Rapaport, GJEPC and the Government of India under the FTWZ framework at SEEPZ.
More than 60 buyers are expected to participate. The auction follows Rapaport’s global silent-auction model, with winning bidders notified within 24 hours after the close of bidding, payment due within three working days, and goods shipped from New York post payment.