Hyderabad's role in the pearl trade has given it the name "City of Pearls" and up until the 18th century, the city was also the only global trading centre for large diamonds. Industrialisation began under the Nizams in the late 19th century, helped by railway expansion that connected the city with major ports. From the 1950s to the 1970s, Indian enterprises, such as Bharat Heavy Electricals Limited (BHEL), Nuclear Fuel Complex (NFC), National Mineral Development Corporation (NMDC), Bharat Electronics (BEL), Electronics Corporation of India Limited (ECIL), Defence Research and Development Organisation (DRDO), Hindustan Aeronautics Limited (HAL), Centre for Cellular and Molecular Biology (CCMB), Centre for DNA Fingerprinting and Diagnostics (CDFD), State Bank of Hyderabad (SBH) and Andhra Bank (AB) were established in the city. The city is home to Hyderabad Securities formerly known as Hyderabad Stock Exchange (HSE), and houses the regional office of the Securities and Exchange Board of India (SEBI). In 2013, the Bombay Stock Exchange (BSE) facility in Hyderabad was forecast to provide operations and transactions services to BSE-Mumbai by the end of 2014. The growth of the financial services sector has helped Hyderabad evolve from a traditional manufacturing city to a cosmopolitan industrial service centre. Since the 1990s, the growth of information technology (IT), IT-enabled services (ITES), insurance and financial institutions has expanded the service sector, and these primary economic activities have boosted the ancillary sectors of trade and commerce, transport, storage, communication, real estate and retail.

In the 18th century there was one global trading hub for large diamonds, what was it?