The recent strategic partnership between the Natural Diamond Council (NDC) and eight prominent diamond manufacturers is poised to have a profound impact on the natural diamond industry. This collaboration, which brings together major players in the value chain, is expected to reshape the industry and drive sustainable growth.
The alliance between the NDC and industry leaders such as Shree Ramkrishna Exports (SRK), Hari Krishna Exports Pvt. Ltd. (HK), Rosy Blue, Venus Jewel, Diarough, Dianco, Jewelex, and Shivam Jewels signifies a shared commitment to advancing the industry’s interests.
One of the immediate effects of this partnership is an increased investment in marketing and promotion. The combined efforts of the NDC and the eight manufacturers will lead to enhanced consumer awareness about natural diamonds and their positive impact throughout the value chain. By communicating the values and stories of each manufacturer to their customers, the partnership seeks to strengthen the industry’s reputation and build trust.
David Kellie, CEO of the Natural Diamond Council, expressed his gratitude to the visionary partners, stating, “I would like to thank each partner for putting their trust in the NDC. They share common values as members of the RJC, but each has a unique and powerful story that we look forward to sharing more broadly with the industry. Together with our community of retail partners, we’re looking forward to raising consumer awareness of the positive impact of the natural diamond industry throughout the value chain. I would also like to thank the Gem & Jewellery Export Promotion Council (GJEPC) for their ongoing support”.
Ethical practices, compliance, and transparency are cornerstones of the partnership. These leading diamond manufacturers have already established themselves as responsible industry players, prioritising ethical sourcing and sustainable business practices. With their collective commitment to corporate social responsibility initiatives and adherence to environmental and social governance principles, they are setting a new standard for the industry.
Richa Singh, Managing Director, India & Middle East – NDC, added, “I am proud to partner with these guiding lights of the diamond business. Each of these leaders has a vision for the progress and well-being of the modern diamond industry. Their shared values around ethical practices and commitment to community development have helped us dominate the world stage. They are pioneers who have helped make natural diamonds symbols of conscious luxury, and I am excited to showcase their positive impact to both the consumers and the trade.”
The partnership also presents an opportunity to address emerging challenges and explore new market avenues. By aligning their objectives with those of major mining companies through the mission of the NDC, the manufacturers will adopt a more holistic approach to industry growth. This collaborative effort will enable them to tackle challenges collectively, ensure responsible practices, and stay ahead of industry trends.
The partnership’s impact extends beyond the participating manufacturers. Bonas Group, the world’s longest-established diamond brokerage and consultancy firm, and the largest global independent diamond and gemstone tender and auction house, will also contribute their expertise and perspective. This addition further strengthens the partnership and bolsters the industry’s growth prospects.
As the natural diamond industry evolves, this partnership marks a significant turning point. The collaboration between the NDC and these leading manufacturers is expected to catalyse positive change, shape the industry’s future, and ensure a sustainable and responsible diamond industry for years to come.