GJEPC announces close to $10 million will be invested on promotion in India

The promotion of diamonds and diamond jewellery to consumers will be placed prominently on the agenda of the 35th World Diamond Congress (WDC), the joint biennial meeting of the International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses (WFDB), that will be held in Mumbai, India, from October 14 to 17. Sanjay Kothari, ex vice chairman of the Gem and Export Promotion Council (GJEPC), said at a press conference on Saturday that for the coming three years the GJEPC is expected to allocate close to $10 million on diamond jewelry promotion to consumers within India, adding that the Indian diamond and jewellery industry had waited long enough for others to step into the void, and that it is now time for the Indian industry to take affirmative action and take the lead.

During the press conference, held on the third day of the International Indian Jewellery Show, Kothari explained that contrary to the past, India and China should take the lead in promoting diamond jewellery to the consumer public. "India is the most important market for us and we've resolved to start our diamond promotion efforts right here. We intend to allocate during the coming three years between two to three million US dollars per year toward this goal."

Kothari reported that the GJEPC had begun communicating with the Diamond Administration of China (DAC), the highest ranking governmental body that regulates the Chinese diamond industry, to create similar efforts for the Chinese consumer market.

IDMA president Moti Ganz congratulated the GJEPC on its efforts, noting that the organization's initiative would motivate other industry organizations to join the GJEPC s initiative. "Unfortunately, past efforts to convince the major diamond producers to establish and support the International Diamond Board for diamond promotion to consumers have not succeeded despite the industry's best efforts. The GJECP is now pointing the industry into a new direction and as it kickstarts its campaign, other industry organizations cannot but follow this example. I am confident that during our discussions at the upcoming Congress in October, in Mumbai, India, we will develop practical plans toward the international implementation of this welcome initiative," Ganz said.

The 35th World Diamond Congress is organised and hosted by the Gems & Jewellery and the Bharat Diamond Bourse (BDB). Earlier this summer, the organising committee launched a dedicated congress website that can be accessed at www.diamondcongress2012.com, and provides detailed information on the event's schedule and programme, participating organisations, the hosts, information about registration, the venue hotel and roombooking, social tours and post-congress optional programmes.