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Partnership is key to growing business, insists Bruce Cleaver, CEO, De Beers Group at IIJS 2016
33rd edition of India International Jewellery Show kickstarts, hopes to improve market sentiments
By: Diamond World News Service
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Aug 4 2016 2:19PM
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Reference: 13305  

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Bruce Cleaver, recently appointed CEO of De Beers Group, in his first public engagement, stressed on the importance of partnerships to herald growth of the industry. He was speaking as a chief guest during the inauguration of India International Jewellery Show (IIJS) 2016 at Bombay Exhibition Centre in Mumbai.

Speaking at the inauguration of 2016 IIJS, Bruce Cleaver, CEO, De Beers Group said “India is of central importance to De Beers’ future and is at the very heart of the diamond pipeline.”

Acknowledging the India was the world’s first known source of diamonds, and has played a central role in the industry’s history, Cleaver noted that “India represents the heartbeat of the industry’s midstream sector, with the great majority of the world’s cutting and polishing taking place here.”

He concluded his speech by saying that partnerships are the foundations for the future of the diamond sector, “Partnership is the vehicle through which we will protect and grow diamond quality; it is bedrock on which our activities in the Indian diamond sector are founded; and it is something that we must continue to nurture if we wish to drive the industry on to greater success.”

Praveenshankar Pandya in his inaugural speech spoke about importance of promotion of diamonds to protect the industry from competitors as well as the growing shift of millennials to luxury products other than diamonds. He lauded the resilience of the industry, which has kept itself afloat amidst the global turmoil. He further said that the Council is doing and will continue to do all that is possible to protect the best interest of the industry.

Talking about the initial foray of diamond industry into the international arena, he spoke about how De Beers had been a great help to the industry and it is till date has kept its strong faith in the capabilities of the Indian diamond industry.

Manoj Kumar Dwivedi, Joint Secretary, Union Ministry of Commerce also graced the inauguration ceremony. During his speech, he spoke extensively about nurturing the traditional art of jewellery making and the craftsmen. Further he stressed on the importance of industry and government working together and reaching a harmony for the betterment of the industry. He said “At present, in India, around 65 per cent of the country’s population is under the age of 25 years and we need to uitilise this population and encourage their skills to help the industry grow further.” He also praised the growth of IIJS in the last over 30 years.

During the ceremony, GJEPC and De Beers signed an MoU worth US $5 million, to promote diamonds across the world.

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