19 Oct 2018
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GJEPC presents first-ever India International Diamond Week in India
Around 40-45 diamantaires of India showcased their capabilities through various offerings in terms of polished diamond shape, size and cuts.
By: Diamond World News Service
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Nov 28 2017 4:08PM
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Reference: 15855  

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Sabyasachi Ray (ED, GJEPC), Praveenshankar Pandya (Chairman, GJEPC) and Reuven Kaufman (Diamond Dealers Club, USA) at the 1st India International Diamond Week organised by GJEPC in Mumbai from 7th-9th November 2017
Sabyasachi Ray (ED, GJEPC), Praveenshankar Pandya (Chairman, GJEPC) and Reuven Kaufman (Diamond Dealers Club, USA) at the 1st India International Diamond Week organised by GJEPC in Mumbai from 7th-9th November 2017

The Gem & Jewellery Export Promotion Council (GJEPC) organized the first-ever India International Diamond Week in the country from 7th  to 9th November 2017 as part of its endeavour to promote the Indian diamond industry worldwide and improve its trade relations with potential countries. Post successfully organizing seven editions, India Diamond Week is now being held in Mumbai for the first time by inviting prominent buyers from the U.S., China, Russia,/ CIS, Lebanon, Saudi Arabia, South Africa, South Korea and Turkey. Around 40-45 diamantaires of India showcased their capabilities through various offerings in terms of polished diamond shape, size and cuts. GJEPC invited over 100 leading global buyers to India to deal directly with Indian suppliers and to reduce cost of transactions and boost bilateral trade between global importers and Indian exporters. 

Praveenshankar Pandya, Chairman, GJEPC, said, “Focussed Buyer Seller Meets of the stature of India International Diamond Week will further promote business ties between Indian trade and international buyers. Each and every buyer is taking advantage of this unique platform offered because they can concentrate on existing & new customers across spectrum. November is the best time for conducting such a meet as it marks the beginning of the new season for 2018 across key markets targeting Christmas, Chinese New Year and other festive occasions across the world. The diamond trade is a community in itself and we all have our strengths – therefore it is important to collaborate so as to create and nurture sustainable growth. ”

Reuven Kaufman, President, Diamond Dealers Club (US), said, “GJEPC has done a magnificent job and the good matchmaking has now become a marriage. Diamond business is a human business based on trust. Buyers from across the world need to meet face to face and create good relationships leading to better quality conversations. India International Diamond Week is a very good forum as it shifts focus from local regional buying to global buying at the most cost-effective competitive rates. Sourcing from India also helps in maintaining continuity as we get the widest possible range of finished diamonds suitable for all kinds of jewellery.”

Mehmet Can Ozdemir, CEO, YonetimKurulu Oyesi (Turkey), said, “Turkey and India have a long history of successful business relationships in the gem & jewellery trade. In a big show, we buyers can easily get lost but the India International Diamond Week is a focussed B2B platform. More direct focussed global events busy and larger and better quality conversations. I have been coming to India often and meet several companies but I discover new offerings during every visit including unique Indian craftsmanship. Initiatives such as this will help in fostering long years of collaboration between India and Turkey.”

Ms. Wang Yi, General Manager, GuoHua Jewelry (China), said, “The Chinese delegation at India International Diamond Week in Mumbai is large with 14 buyers from 35 companies. Chinese gem & jewellery trade is seeking the best buys from across the world after the country opened up its markets and lowered duties leading to its premier positioning as one of the largest exporters of jewellery to the world. We want to procure directly from the source and encourage direct procurement.”

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