Antwerp: Indian diamond traders are progressively displacing the Jewish community that dominated this trade in Belgium's diamond city – Antwerp, and are now calling for better representation on Antwerp's High Diamond Council, the powerful regulatory body in the trade, according to the 'Wall Street Journal'.

The lower cost production in Mumbai and Gujarat has helped Indians takeover the trade that was once the preserve of Antwerp's Jewish neighbourhood.

"Indians are among the world's most successful newcomers. They have reinvigorated the jewellery districts in New York and Hong Kong and revived the US motel industry; they are among the programmers of choice in Silicon Valley and Berlin. In the global diamond world, Indians have been so successful that they are challenging Jewish dealers, even in Tel Aviv. About 80 per cent of all polished diamonds sold world-wide pass through Indian hands," the report said.

Indians hold 65 per cent of the $ 26 billion business, while Jews have been reduced to holding 25 per cent of it, where once they controlled 70 per cent of revenues, the report said.