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DW Special: The Israeli Diamond Industry
Opening Windows of Opportunity despite the Crisis
By: By Rachel Lieberman, Content Manager, Israel Diamond Institute Portal
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Jan 30 2009 6:25PM
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Reference: 3494  

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Jacob Kattan, a member of the Israeli Diamond Manufacturers Association’s board of directors and former vice chairman of the Board of Directors of the IDE Enterprises, has worked closely with the Indian diamond industry for 30 years. He believes that when the global diamond industry emerges from the current crisis there will be an excellent opportunity for closer cooperation between the Israeli Diamond Industry and its Indian counterpart.

He explains: “Israel is geared to deal with larger stones while to date the Indian diamond industry has dealt mainly with smaller stones. This is because it excels in dealing with bulk volumes of small stones. The Israeli polishing industry is structured differently. The work is done in smaller groups and the manager supervises the entire process. The yield is much greater. So in fact, the Indian industry could profit from collaboration with its Israeli counterpart when it comes to large stones while the Israeli industry can benefit from cooperation when it comes to smaller stones.”

Kattan elaborates that Israel holds clear marketing advantages as well as a lower debt rate to banks in comparison to its Indian counterpart. But India itself is an emerging market that holds tremendous potential. “We should take advantage of the benefits that each of these industries has to offer, whether it is specific polishing skills, advanced marketing or a new market, in order to create a unique and powerful synergy.”

Kattan summarizes: “Increased cooperation can produce significant benefits for both parties, with each side bringing its strong points. It pays to remember that the sum total of one plus one often yields more than merely two.”

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