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NY Dealers Club Celebrates Successful India Diamond Week

Aug 14, 2014 4:59 PM   By DDC
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Press Release: Today marks the conclusion of the first India Diamond Week at the Diamond Dealers Club (DDC) of New York, in conjunction with the Gems & Jewellery Export Promotion Council (GJEPC). Significant business transactions and new connections were made on the DDC’s trading floor by U.S. and overseas participants, including DDC members and exhibitors from abroad.
The four-day exhibition, following on the heels of Antwerp Diamond Week and Israel Diamond Week, welcomed diamantaires from India to the U.S. This is the DDC’s third major initiative in only a few months to draw new audiences and forge bonds between diamantaires at the center of the diamond trade – New York City’s DDC.

The GJEPC’s vice chairman, Pankaj Kumar Parekh, shared his enthusiasm for the event. “We jumped on the privilege to participate when it was offered to us. Our relationship with the DDC is very strong. We complement each other and can’t survive without one another. The event was so successful that India diamantaires are already eager to come back to the DDC next month!”

To formally mark the occasion, DDC president Reuven Kaufman welcomed guests at a cocktail reception and networking event on Wednesday evening. “I was thrilled to see all the tables, all the aisles, completely full,” he said as he addressed the crowd. “By hosting India Diamond Week, and other shows at the DDC, we are witnessing new relationships forming, business deals happening – our trading floor coming alive again.”

The show exceeded the expectations of India Diamond Week exhibitors. Many expressed gratitude for being invited to participate and for reaping the rewards of doing business in real-time.  Ashok Nadoda of Shree Ramkrishna Exports Pvt. Ltd., one of the largest diamond manufacturers in India, said this was a totally new experience for them. “This is the destination for us to meet our customers and grow our business. We do more than 50 percent of our business online. By being here, this is the best way we can meet people, which helps increase our business tremendously,” he said.

Mitesh Zaveri of Hari Krishna Exports Pvt. Ltd., commended the DDC for conceiving and creating the show. “We didn’t know what to expect and we’re very pleased with the results,” he said. “We sold a nice amount of goods. Now that we participated in this show, we’ll come up with new goals so we can sell more next time.”

Local wholesalers and diamond companies noted that the DDC’s India Diamond Week presented them with an opportunity to network face-to-face, build new relationships and maintain bonds with companies they don’t usually interact with in person, which is critical to business and making deals.

“I think the U.S. market works hand-in-hand with the Indian market,” said Penina Rapaport of the Rapaport Group. “We’re seeing a lot more development with Indian companies, which is why it’s very important to have India Diamond Week. People really appreciate shows at the Diamond Dealers Club.”

Henry Desai of Bluerays Inc., a local manufacturer and wholesaler said, “It’s important to build new relationships and maintain bonds with these companies.”

World Federation of Diamond Bourses and DDC honorary president Eli Izhakoff, attended the reception on Wednesday evening. “It’s a pleasure for me to see the reemergence of the DDC. The manifestation of this event, following the recent shows, brings people together to create new energy on the trading floor. I’m looking forward to watching the DDC continue to blossom under Reuven Kaufman’s careful and dutiful guidance,” he said.

For more information about upcoming shows at the DDC, or to become a member, contact our executive office.

About the Diamond Dealers Club (DDC)
The Diamond Dealers Club (DDC) is the largest diamond trade organization in the U.S.  and one of the leading diamond exchanges in the world. The DDC works diligently to support and encourage the growth of the U.S. diamond industry. The mission of the DDC of New York is to foster the interests of the diamond, colored stone and jewelry industry by providing, regulating and maintaining a facility as the DDC; fostering just and equitable principles in trade; establishing and promoting industry-wide standards of disclosure; disseminating accurate and reliable information; carrying out the activities and objectives of the organization in accordance with the laws of the State of New York and the U.S.
Rapaport News is not responsible for, and does not endorse, the content of any third-party press release. This is not a Rapaport Press Release. It has been provided as additional information for our clients.
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Tags: DDC, Diamond Dealers Club, diamonds, gemstones, india diamond week, trading, wholesale
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