The Gem & Jewellery Export Promotion Council (GJEPC) announced that its second edition India Diamond Week buyer-seller meet will run in Mumbai from October 23 to 25 on the sidelines of the World Diamond Congress, the biennial meeting of the presidents of the 30 diamond bourses that constitute the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), as well as the annual general meeting of the World Diamond Council.
GJEPC Chairman Pramod Agrawal said, “This diamond week is distinct, as it would witness key stakeholders of the global diamond trade this year with the annual general meeting of the World Diamond Council being hosted by the GJEPC in Mumbai. We are overwhelmed with the response in this edition with over 100 buyers confirmed to visit Mumbai for the event from all major key diamond markets of the world including the US, China, Hong Kong, Israel, Russia, Europe, South Africa, Turkey, Middle East, Iran, Latin America, Australia, New Zealand, Indonesia, & South Korea.”
He added, “Today India plays a pioneering role in the development of value-added diamond cutting, with the sector cutting and polishing 14 out of 15 diamonds set in jewellery worldwide. India brings diamonds to life — every size from the smallest to the largest. After creating a niche for itself in the diamond world with small diamonds, India has also developed skillset for cutting and polishing larger stones and fancy cuts.”
GJEPC Vice Chairman Colin Shah noted, “Indian Diamond Industry is labour intensive and employs a workforce of 2 million in the diamond sector alone. Value addition is the key focus for the industry.”
Shah added, “The Indian diamond trade is committed to four pillar principles of fair trade — it leads in self regulation encouraging the My KYC initiative amongst GJEPC members; promotes sustainable development through model programs for the health and welfare of its workers such as Swasthya Ratna; it also plays a dominant role in global diamond advertising and is building state-of-the-art gemological laboratories that ensure diamonds are natural, well-crafted and ethically sourced.”