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India to host WFDB-IDMA Presidents’ Meet
BDB, GJEPC to organize meet in Mumbai from November 13-25
By: Shweta Dharia
Oct 5 2005 12:00AM
Reference: 88  


THE Presidents Meeting of the World Federation of Diamond Bourses (WFDB) and International Diamond Manufacturers’ Association (IDMA) will be held at the hotel Taj Mahal Palace and Towers, in Mumbai from November 13-25, 2005. The meeting will be co-hosted by Bharat Diamond Bourses (BDB) and The Gem and Jewellery Export Promotion Council (GJEPC). This was announced at a press conference held in Mumbai today.

The Presidents’ Meeting is an important platform where the leaders of world diamond industry deliberate on key issues including current concerns like rough supply, pricing, synthetics. This is the first time India will play host for such an important event in the diamond industry, said Anoop Mehta, President of Bharat Diamond Bourse and Member of the Executive Committee of WFDB. “The choice of India as a venue is most appropriate, given the key role that the country plays in global diamond industry, as the greatest manufacturer of polished diamonds,” said Bakul Mehta, chairman, GJEPC. India imports US$7.3 billion of global rough diamonds, which amount to over 70% of global rough diamond production and exports US$11.8 billion polished diamond. This amounts to approximately 60% of global polished diamond production by value and 92% by volume.

The meeting is the highest decision making forum in the period between two bi-annual World Congress of WFDB and IDMA. It is attended by delegates from all 25 Diamond bourses and 12 Apex trade bodies representing different manufacturing centers in different parts of the world. Delegates from the USA, Antwerp, Israel, Russia, South Africa, Thailand, London, Dubai and China are among those who have already confirmed their participation. Nearly hundred senior members of global diamond industry representing the bourses and trade associations of different countries involved in manufacturing and trading will attend the presidents’ meeting.

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