India Diamond Week returns with its 2nd edition in Mumbai
After the success of its first edition and increasing demand from the buyers as well as sellers, the Gem and Jewellery Export Promotion Council (GJEPC) is all set to organise the 2nd edition of India Diamond Week in Mumbai from 23 – 25 October 2018. This year, India Diamond Week will be held on the side lines of World Diamond Council’s AGM and World Federation of Diamond Bourses’ Meet at Mumbai.
Pramod Agrawal, chairman, GJEPC, said, “This Diamond Week is distinct, as it would witness key stakeholders of the global diamond trade this year with GJEPC hosting the World Diamond Council’s AGM in Mumbai around the same time. This format of Buyer Seller Meet provides immense opportunity to discuss business face-to-face and strengthen trade ties with buyers. We are overwhelmed with the response in this edition with over 100 buyers confirmed to visit Mumbai for the Diamond Week from all major key diamond markets of the world including the USA, China, Hong Kong, Israel, Russia, Europe, South Africa, Turkey, Middle East, Iran, Latin America, Australia, New Zealand, Indonesia, & South Korea.”
“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,” he added.
The gem and jewellery exports accounted for US$ 41 billion in 2017-18. The growth in the sector was primarily driven by the cut and polished diamonds (CPD) segment, which witnessed an increase of 4.17 per cent. The export sales of CPD grew to US$ 23732.96 million during FY 2017-18 from US$ 22,783.85 million in the corresponding period in FY 2016-17.
Colin Shah, vice chairman, GJEPC, said, “Indian diamond industry is labour-intensive and employs 2 million workforce in the diamond sector alone. Value addition is the key focus for the industry. Indian diamond trade is committed to the four pillar principles of fair trade. One, it leads in self-regulation encouraged through My KYC amongst GJEPC members. Two, sustainable development created through model programs for the health and welfare of its workers such as Swasthya Ratna. Three, it plays a dominant role in global diamond advertising. Four, it is building state-of-the-art gemological laboratories that ensure diamonds are natural, well-crafted and ethically sourced.”
“The India Diamond Week is aimed at creating an annual trading platform increasing communication between diamantaires and promoting business globally. We believe that the event would further establish and strengthen new sourcing relationships,” he shared.
The first two days of the event will have pre-fixed one-on-one meeting of approximately 30 minutes between the buyer and seller and the 3rd day would be an open exhibition.
There are around 40 manufacturers/exhibitors participating at the event. Some of the confirmed companies for the event include Amrut Gems, Anand International, Asian Star, Dirgh Diamond Pvt. Ltd., Dharmanandan Diamond Pvt. Ltd., D Navinchandra Exports, Dimexon Diamonds Ltd., Hari Krishana Exports Pvt. Ltd., J. B. and Brothers Pvt. Ltd., Janam Corporation Pvt. Ltd., J K Star, K P Sanghvi & Sons LLP, Karp Impex Ltd., Kiran Gems Pvt. Ltd., K. Girdharlal, Kumbh Gems Mahendra Brothers Exports Pvt. Ltd., Mahima Gems, Mithal Mfg. Co., Narola Gems, Nikita Diamonds, Parishi Diamond, Param Exports, PopatlalNathalal Shah, Rosy Blue, Shree Ramkrishna Exports, S. Vinodkumar Diamonds Pvt. Ltd., Sanghvi & Sons, Sheel Gems, Sheetal Manufacturing Co. Pvt. Ltd., Shivam Jewels, Star Rays, Samarth Diamond, Tanvirkumar& Company, Unique Gems, Vaibhav Gems, Veer Gems, VishindasHolaram, VD Global, and Yamuna Enterprise.
India Diamond Week is powered by Gemmological Institute of America, GIA.