The Hong Kong Indian Diamond Association (HKIDA) has joined the World Federation of Diamond Bourses (WFDB) as an Associate Member, granting it Observer status in various organisational forums. HKIDA is an association of Indian natural diamond and diamond jewellery dealers and traders operating in Hong Kong, whose aim is to promote the natural diamond trade and to ensure consumer trust in the diamond industry.
The WFDB, which was founded in 1947 to protect the interests of diamond bourses and their members, is now seeking to broaden its influence and relevance by inviting leading non-bourse organisations in the global diamond and jewellery industries to its ranks. In December 2016, the GJEPC was named the first non-bourse member of the WFDB.
Founded in 2015, the HKIDA holds events and seminars for members in the areas of financing, technology and innovation as well as latest industry trends. It also organises a pavilion for members at international exhibitions held in Hong Kong.
Raju Shah, President of HKIDA said, “HKIDA wishes to join forces with the international diamond industry and is committed to support the WFDB’s efforts in protecting and promoting the diamond industry around the world in this challenging and ever-changing environment.”
Yoram Dvash, Acting President of the WFDB, said, “The HKIDA represents dozens of diamond companies, who form a significant force in the diamond industry. The more players we bring to the WFDB table, the stronger we are together.”