India, as Chair of the Kimberley Process (KP) for 2026, has flagged key priorities concerning the global diamond industry, including responsible rough diamond sourcing as part of its outreach ahead of the KP Plenary to be held in Delhi from November 30 to December 4, according to a statement issued by the Commerce Ministry on Thursday.

The issue was discussed at a stakeholder consultation in Angola’s Luanda on Tuesday, chaired by Additional Secretary Yashvir Singh on India’s behalf, which brought together the Chairs and Vice-Chairs of KP Working Groups and Committees (KP Working Bodies), the KP Vice-Chair (of Ghana), and the former KP Chair (of the United Arab Emirates). Representatives of observers and partner organisations, including the World Diamond Council and the African Diamond Producers’ Association (ADPA), also participated in the discussion, the statement said.

India has observer status in the ADPA, providing an institutional platform for engagement with African diamond-producing countries. This offers opportunities for cooperation in securing rough diamond supply chains, technical knowledge exchange, value addition, market access and the promotion of ethical and sustainable practices.

The 13th Extraordinary Meeting of the ADPA Council of Ministers, held alongside the 20th anniversary celebrations, approved a Memorandum of Understanding (MoU) between the Gem & Jewellery Export Promotion Council (GJEPC), India, and the ADPA. The MoU seeks to strengthen cooperation between the Indian gem and jewellery industry and African diamond-producing countries, including through capacity building and skills development in diamond sorting, valuation and manufacturing, exchange of technical expertise, and the promotion of trade and investment linkages across the diamond value chain, the statement said.

Yashvir Singh said: “India’s chairship places emphasis on confidence, compliance and credibility. The consultation in Luanda provided an opportunity to engage directly with the leadership of the KP working bodies, the KP Vice-Chair and observers on issues that are important to the future of the Process and the diamond industry. Our endeavour is to build a shared understanding of the issues before the New Delhi Plenary and to advance practical outcomes through constructive dialogue and consensus-based decision-making.”

Discussions covered the sustainability of diamond-producing countries and communities, sustainable funding and continuity of the KP Secretariat, digitalisation of certification and statistical processes, and strengthening compliance with the Kimberley Process Certification Scheme.

Participants also exchanged views on the reform of the conflict diamond definition, responsible sourcing, artisanal and alluvial diamond production, consumer confidence and the importance of effective reporting and peer-review mechanisms.

The ADPA, established in 2006 in Luanda, seeks to enhance cooperation among African diamond-producing nations. It effectively comprises 15 member countries and 8 observers, including two non-African observers, namely Russia and India. Its member countries collectively account for over 60 per cent of global diamond production.

Adani Ports and Special Economic Zone Limited (APSEZ) on Thursday announced the acquisition of Netherlands-based Evos B.V., Europe’s second-largest independent liquid storage operator, in an all-cash transaction valued at an enterprise value of 2.56 billion euros.

Under the agreement, APSEZ will acquire a 100 per cent stake in Evos from Igneo Infrastructure Partners.

The deal values Evos at an equity value of 1.18 billion euros and implies an acquisition multiple of 11.7 times CY25 EV/EBITDA.

The transaction will be funded through debt and remains subject to regulatory approvals and works council consultation.

“APSEZ, India’s largest and one of the world’s fastest growing Integrated Transport Operator, agrees to acquire 100 per cent stake in Netherlands-headquartered Evos B.V. (Evos) from Igneo Infrastructure Partners. The proposed transaction is an all-cash deal at an enterprise value of 2.56 bn euros,” the official statement said.

For calendar year 2025, Evos reported revenue of 392 million euros and EBITDA of 219 million euros, translating into a robust EBITDA margin of 56 per cent.

Following the acquisition, the combined entity’s pro forma net debt-to-EBITDA ratio is expected to stand at 2.76 times and decline to around 2.5 times by FY27.

Commenting on the deal, Karan Adani, Managing Director of APSEZ, said the acquisition marks a significant milestone in the company’s journey toward handling one billion tonnes of cargo and building a truly global integrated transport platform.

“Evos marks an important milestone in APSEZ’s trajectory towards handling 1 billion tons of cargo and building a truly global, integrated transport platform. We are delighted to welcome Evos into our portfolio, giving us significant presence across key global liquid storage and energy hubs,” Karan Adani noted.

“We look forward to partnering with Europe, supporting its sustainable energy transition and creating enduring value while maintaining the financial prudence that underpins our growth,” he added.

Headquartered in the Netherlands, Evos operates 6.3 million cubic metres of storage capacity across eight strategically located port-based terminals in the Netherlands, Germany, Spain, Belgium and Malta.

The company has a presence in major energy and industrial hubs, including the Amsterdam-Rotterdam-Antwerp region, Hamburg and the Mediterranean.

Indian equity markets opened higher on Thursday with benchmarks jumping about 2 per cent each tracking strong global cues after the outcome of the US midterm elections and a sharp decline in crude oil prices.

Sensex opened at 78,910.94, an increase of 1,609.54 points or 2.08 per cent. Similarly, Nifty began the trading session at 24,378.05, up 417.45 points or 1.74 per cent.

In early trade, financial stocks led gains with Nifty Private Bank surging more than 2 per cent. Meanwhile, Nifty Realty gained 1.86 per cent. However, all sectoral indices were trading in the positive territory.

Other sectoral performers, Nifty Cement, Nifty Auto, Nifty IT, Nifty Oil & Gas and Nifty PSU Banks climbed up to 1.82 per cent.

FMCG, consumer durables, metal, media and chemicals also traded in positive territory, rising between 1 per cent and 1.5 per cent.

Market experts said the Nifty continued to maintain its position above the 200-day exponential moving average (EMA) near 23,904, reinforcing a positive technical setup.

“The RSI has climbed to 68.55, indicating strong momentum, although the possibility of near-term profit booking cannot be ruled out,” analysts said. Immediate support is seen in the 24,000-24,200 zone, while resistance is placed between 24,500 and 24,700.

The experts also noted that after the initial reaction to the US election results weakens, there will be concerns surrounding prolonged political conflict in the US, since US President Donald Trump being what he is, is likely to turn Mr Veto rather than lame duck president.

On Wednesday, foreign institutional investors (FIIs) extending their buying streak for a fourth straight session. FIIs were net buyers of equities worth Rs 7,284 crore. Domestic institutional investors (DIIs), however, continued to pare holdings, recording net sales of Rs 3,712 crore for the fourth consecutive day.

Global markets provided additional tailwinds after US equities registered sharp gains overnight. The Dow Jones Industrial Average jumped more than 3 per cent, marking its strongest post-midterm election performance in over four decades. The S&P 500 and Nasdaq Composite also rose more than 1.4 per cent each as election uncertainty faded following a clear Democratic sweep of both chambers of Congress.

Meanwhile, energy markets witnessed heavy selling pressure as Brent crude tumbled nearly 10 per cent to settle below the $100-per-barrel mark.

US Treasury yields also eased, with the benchmark 10-year yield retreating to around 4.89 per cent, further supporting risk assets globally.

Market mood was further supported by easing geopolitical concerns surrounding Iran and a weaker US dollar which boosted appetite for risk assets across global markets.