Oct 09, 2018

GJEPC to Organize 2nd edition of India Diamond Week in Mumbai from October 23-25

The 2nd edition of India Diamond Week in Mumbai will be held on October 23-25, 2018, the organisers, The Gem & Jewellery Export Promotion Council has announced. Over 40 Indian manufacturers and more than 100 international buyers will participate in the event, which will take place on the side lines of the World Diamond Council’s AGM and World Diamond Congress of WFDB-IDMA, also being held at Mumbai during this period.

The second edition will be a follow up on the phenomenal success of the first edition of the India Diamond Week in Mumbai held earlier this year and increasing demand from the buyers as well as sellers. Visitors 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 have already confirmed their participation.

GJEPC said that the India Diamond Week is aimed at creating an annual trading platform, increasing communication between diamantaires and promoting business globally strengthening existing and establishing new sourcing relationships.

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.”

Agrawal added that “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” and stressed that “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.”.

During FY 2017-18, total gem & jewellery exports reached US$ 41 billion, with the growth being primarily driven by the Cut & Polished Diamonds (CPD) segment, which witnessed an increase of 4.17%. Exports of CPD grew to US$ 23,732.96 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 a workforce of two million in the diamond sector alone. Value addition is the key focus for the industry.”

Shah added, “Indian Diamond trade is committed to 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 gemmological laboratories that ensure diamonds are natural, well-crafted and ethically sourced.”

The first two days of the event will have pre-fixed one-to-one meetings of approximately 30 minutes between the buyer and seller, and the 3rd day would be an open exhibition.

Around 40 manufacturers/exhibitors are participating, including Amrut Gems, Anand International, Asian Star, D Navinchandra Exports, Dirgh Diamond Pvt. Ltd., Dharmanandan Diamond Pvt. Ltd., Dimexon Diamonds Ltd., Hari Krishna 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, Popatlal Nathalal Shah, Rosy Blue, S. Vinodkumar Diamonds Pvt. Ltd., Sanghvi & Sons, Sheel Gems, Sheetal Manufacturing Co. Pvt. Ltd., Shivam Jewels, Shree Ramkrishna Exports, Star Rays, Samarth Diamond, Tanvirkumar & Company, Unique Gems, Vaibhav Gems, Veer Gems, Vishindas Holaram,  VD Global, and Yamuna Enterprise.

India Diamond Week is Powered by Gemmological Institute of America, GIA