Rapaport Press Release
RAPAPORT... PRESS RELEASE, Thursday, May 26, 2011, Mumbai:  The Rapaport Group is pleased to announce the launch of the Rapaport Price List in Rupee. It is available to all Rapaport subscribers at no extra charge and can be downloaded from the internet at www.diamonds.net/prices. Indian subscribers will also receive the Rupee Price List via email along with their U.S $ price list. The Rupee price list will be a straight conversion of prices from dollars to rupee based on the Reserve Bank of India Thursday exchange rate.

The new Rapaport Price List in Rupee recognizes the growing importance of India as the fastest growing consumer market for diamonds. Thousands of Indian jewelers trade diamonds every day and they need price information that is easy to use. The Rapaport Group is committed to serving Indian retail markets that trade in Rupee in addition to international markets that trade in dollars.

“India is incredible. India’s net diamond account doubled from $1.67 billion last year to $3.37 billion this financial year. At this growth rate India will overtake the U.S. as the primary consumer market for diamonds within three years. The Rapaport Group is firmly committed to supporting India’s wholesale, retail and consumer sectors through added value products and services that support transparency, efficiency, competition and fair market trading. The new Rapaport Price List in Rupee will democratize diamond price information and increase consumer confidence as it provides downstream access to standardized price information.” said Martin Rapaport, Chairman of the Rapaport Group.

Attached to this press release is a copy of the new Rapaport Diamond Price List in Rupee (rounds and pears) for the week of May 19th, 2011 and additional background information for editors.

Rapaport Media Contacts: media@diamonds.net

Mumbai           Pooja Kotwani             +91-98-6725-9995
Mumbai           Prashant Bhojani         +91-97694-66855
International    Alissa Goren               +1-718-473-0882

About the Rapaport Group: The Rapaport Group is an international group of companies providing added value services that support the development of free, fair, transparent and competitive global diamond markets. Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond auctions, diamond certification, quality-control, compliance, shipping, and financial services. Activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond commodity markets. Additional information is available at www.Diamonds.Net.

 



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