{"id":27416,"date":"2024-08-21T12:48:21","date_gmt":"2024-08-21T07:18:21","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=27416"},"modified":"2024-09-02T19:12:20","modified_gmt":"2024-09-02T13:42:20","slug":"paul-rowley-indias-diamond-lustre-unfazed-by-global-challenges","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/paul-rowley-indias-diamond-lustre-unfazed-by-global-challenges\/","title":{"rendered":"Paul Rowley: India’s Diamond Lustre Unfazed by Global Challenges"},"content":{"rendered":"

Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group<\/em><\/strong>,\u00a0discusses India’s growing diamond demand,\u00a0the importance of IIJS Premiere,\u00a0and the company’s sustainability initiatives.<\/em><\/p>\n

Given the current economic climate, what is De Beers’ outlook for the diamond market in the coming year, both globally and specifically in India?<\/em><\/strong>\u00a0<\/strong><\/p>\n

Looking at the Indian consumer market, we continue to see very positive prospects. The diamond market here is poised for continued growth, driven by strong consumer demand, especially among younger populations in tier-2 and tier-3 cities. As we look ahead to Diwali and the festival season, the positive demand trends we have seen so far in India look set to continue and the nation\u2019s economic progress will continue to support growth in demand for diamonds from Indian consumers.<\/p>\n

On the international stage, demand is more mixed. While the demand from US consumers has been resilient in the face of economic challenges, the reduced demand from Chinese consumers is likely to continue in the near-term as economic pressures affect consumer purchasing decisions \u2013 this is evident in the luxury category more broadly, with several leading international brands experiencing reduced demand from China. However, the factors that have affected demand recently are cyclical and we continue to see a very positive outlook for diamonds globally in the medium and long-term.<\/p>\n

\"\"
@ IIJS Premiere 2024<\/figcaption><\/figure>\n

What does the IIJS Premiere event represent for De Beers?<\/em><\/strong><\/p>\n

\u00a0<\/strong>IIJS Premiere is one of the key events in the international jewellery calendar and a huge opportunity for diamond businesses to work on developing new opportunities \u2013 both within India and on the international stage.<\/p>\n

At De Beers, we see it as a key event as we can engage with a wide array of leading businesses. It is a great opportunity to share our insights, gain insights from those we engage with, and showcase our many products and services to some of the world\u2019s best companies in the sector. It\u2019s more than just an exhibition for us; it\u2019s a chance to deepen our relationships within the industry and contribute to the ongoing evolution of the market.<\/p>\n

De Beers has been a strong advocate for sustainability and ethical practices in the diamond industry. Can you elaborate on some of the key initiatives in this area?<\/em><\/strong><\/p>\n

We believe that sustainability and ethics are vital considerations for any business \u2013 and even more so in the diamond industry, where we sell products that have such emotional significance. We have therefore put a lot of effort into our Building Forever sustainability framework and are very proud of the progress we have made.<\/p>\n

Recent highlights include achieving a target to engage 5,000 women and girls in STEM (science, technology, engineering and mathematics) two years early, agreeing to establish a flagship Diamonds For Development Fund in Botswana, progressing key renewable energy projects in support of recently-validated science-based emission reduction targets, and scaling the development of Tracr, the pioneering diamond traceability platform.<\/p>\n","protected":false},"excerpt":{"rendered":"

Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group,\u00a0discusses India’s growing diamond demand,\u00a0the importance of IIJS Premiere,\u00a0and the company’s sustainability initiatives. Given the current economic climate, what is De Beers’ outlook for the diamond market in the coming year, both globally and specifically in India?\u00a0 Looking at the Indian consumer market, we continue to…<\/p>\n","protected":false},"author":2,"featured_media":27418,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91,106,113,79],"tags":[],"thb-sponsors":[],"class_list":["post-27416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-manufacturing","category-national","category-viewpoint"],"acf":[],"yoast_head":"\nPaul Rowley: India's Diamond Lustre Unfazed by Global Challenges - solitaire international magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/paul-rowley-indias-diamond-lustre-unfazed-by-global-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paul Rowley: India's Diamond Lustre Unfazed by Global Challenges - solitaire international magazine\" \/>\n<meta property=\"og:description\" content=\"Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group,\u00a0discusses India’s growing diamond demand,\u00a0the importance of IIJS Premiere,\u00a0and the company’s sustainability initiatives. 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