Press Release: Promoting diamonds and diamond jewelry to consumers will be a topic of prominence at the 35th World Diamond Congress (WDC), the joint biennial meeting of the International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses (WFDB), that will be held in Mumbai, India, from October 14 to 17.
Sanjay Kothari, vice chairman of the Gem & Export Promotion Council (GJEPC), said at a press conference on Saturday that for the coming three years the GJEPC is expected to allocate close to $10 million on diamond jewelry promotion to consumers within India, adding that the Indian diamond and jewelry industry had waited long enough for others to step in and fill the void, and that it is now time for the Indian industry to take affirmative action and take the lead.
During the press conference, held on the third day of the International Indian Jewellery Show (IIJS), Kothari explained that contrary to the past, India and China should take the lead in promoting diamond jewelry to the consuming public.
"India is the most important market for us and we've resolved to start our diamond promotion efforts right here. We intend to allocate during the coming three years between $2 million to $3 million year toward this goal." Kothari reported that the GJEPC had begun communicating with the Diamond Administration of China (DAC), the highest-ranking governmental body that regulates the Chinese diamond industry, to create similar efforts for the Chinese consumer market.
IDMA's president, Moti Ganz, congratulated the GJEPC on its efforts, noting that the organization's initiative would motivate other industry organizations to join the GJEPC s initiative.
"Unfortunately, past efforts to convince the major diamond producers to establish and support the International Diamond Board for diamond promotion to consumers have not succeeded despite the industry's best efforts,'' Ganz said. ''The GJEPC is now pointing the industry into a new direction and as it kick starts its campaign, other industry organizations cannot but follow this example. I am confident that during our discussions at the upcoming Congress in October, in Mumbai, India, we will develop practical plans toward the international implementation of this welcome initiative."
The 35th World Diamond Congress is organized and hosted by the GJEPC and the Bharat Diamond Bourse (BDB). Earlier this summer, the organizing committee launched a dedicated congress website that can be accessed at www.diamondcongress2012.com, and provides detailed information on the event's schedule and program, participating organizations, the hosts, information about registration, the venue hotel and room booking, social tours and post-congress optional programs.
About IDMA
IDMA was founded and convened for the first time in 1946, in Antwerp. It is committed to fostering and promoting the highest ideals of honesty and best practice principles throughout the global diamond industry, as well as full compliance with all relevant national and international laws. The organization has developed and adopted a Code of Conduct, which is binding on all 15 member associations. IDMA also works to encourage fair and honorable practices and decent working conditions for industry employees; and to preserve, protect and promote consumer trust and confidence in diamonds. It encourages and supports social responsibility by the industry in respect to all citizens of the world. The Association has played an active role in establishing the Kimberley Process Certification Scheme and is a co-founder of the World Diamond Council.
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