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Diamond Trade Launches India Fundraising Drive

Apr 29, 2021 9:34 AM   By Rapaport News
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The diamond industry has rallied behind efforts to alleviate the dire Covid-19 situation in India, with various campaigns to raise funds and bring much-needed medical supplies to the country.

“The international diamond and jewelry industry is a close-knit community, actually a family, made up of members from around the globe, many of whom live or originate in India,” said Yoram Dvash, president of the World Federation of Diamond Bourses (WFDB). “As members of this family, we cannot stand by without helping.”

The WFDB launched its Diamond Aid drive together with Mumbai’s Bharat Diamond Bourse (BDB) to bring essential medication and equipment to hospitals in Mumbai and Surat, where the majority of the country’s diamond trading and manufacturing takes place.

The number of Covid-19 cases in India has escalated rapidly since mid-March, and the country set a new world record for daily infections on April 28 when 379,459 people were confirmed positive, according to Worldometer. The sudden spread has left hospitals stretched beyond capacity, with not enough beds, oxygen or doctors to cope with the influx of patients.

Other organizations have intensified their fundraising activities during the second wave. Among them, the Gem & Jewellery Export Promotion Council (GJEPC) continues to offer financial resources following its efforts during the 2020 wave. Last year, it donated INR 200 million ($2.7 million) to Prime Minister Narendra Modi’s PM-CARES fund, and set aside INR 500 million ($6.8 million) to help needy industry workers and for Covid-19 relief.

Similarly, the Gem & Jewellery National Relief Foundation has called for contributions. The organization, which was set up for the industry to support causes in times of crisis, has raised over INR 110 million ($1.5 million) for Covid-19 relief since the pandemic began. It has used the funds to donate meals to needy families, for medical supplies, and to sponsor two ambulances: one to the 108 emergency services, and the other for Elizabeth hospital.

“Just when we thought we would be able to largely wind up our pandemic work, the situation has worsened considerably,” said the foundation’s chairman, Sanjay Kothari. “The foundation is getting various appeals to help cope with the situation, more particularly in respect of the challenges faced by the healthcare services.”

Rapaport has identified the following opportunities to contribute to India’s Covid-19 relief effort:

WFDB’s Diamond Aid campaign: campaign.wfdb.com

GJEPC: gjepc.org

Bank details for donations to the Gem & Jewellery National Relief Foundation:
Bank of India
Account No.: 07610100019910
IFSC Code: BKID0000076 (Opera House, Mumbai branch)
For more information: click here

Image: Ambulance donated by the Gem & Jewellery National Relief Foundation. 
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Tags: Coronavirus, COVID-19, diamonds, GJEPC, India, jewellery, Jewelry, Rapaport News, WFDB, Yoram Dvash
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