The Bharat Diamond Bourse (BDB) has signed a memorandum of understanding with Thailand's leading gems and jewellery associations for participation in the Bharat Diamond Week (BDW) which takes place at the bourse from October 14 to 16. BDB President Anoop Mehta and Vice-President Mehul Shah signed the agreement with Thai Gem & Jewelry Traders Association President Porntiva Nakasai, and the Gems, Jewelry & Precious Metal Confederation of Thailand (GJPCT) President Somchai Phornchindarak.
The signing ceremony followed a highly successful visit to the Shanghai Diamond Exchange (SDE) by Mr Mehta and Mr Shah where SDE member companies and the exchange's leadership heard about the benefits of participating in the Bharat Diamond Week.
"The agreements signed with the professional organisations from Thailand are the latest step in ensuring we have an excellent number of visitors to the Bharat Diamond Week," said Mr Mehta. "I am delighted that our friends and colleagues from Thailand, who we know so well, will be taking part in the BDW."
Shah, who is responsible for the Bharat Diamond Week and organized the two successful polished diamond events held last year, said: "It is very important that we work with organisations from across the diamond and jewellery world. Our aim is to raise visitor numbers at every show and to learn from the previous event how to be even more successful for the benefit of our small and medium-size company members.
Visitors will be able to source literally every type of diamond both at the Diamond Week and from our other 3,000 Bharat Diamond Bourse member companies. "Close to 90% of all the world's polished diamonds are manufactured in India, so the variety of goods on offer is vast. In addition, the show falls just before the Diwali festival and shutdown, so many manufacturers will be offering excellent deals on their polished goods.
"Furthermore, due to the uncertainty of the situation in Hong Kong due to civil unrest with the September Gem and Jewellery Show just weeks away, we believe it is likely that many companies that need to source diamonds will decide to come here instead. The Bharat Diamond Week will act as a perfect venue for companies to source their diamond demands," said Shah.
The number of companies and individuals who have registered for the show is already far ahead of those for the two previous shows. And, as with the two shows held last year, the BDB will provide selected buyers with complimentary hotel accommodation, with around 150 complementary hotel rooms for foreign buyers. Priority will be given to
visitors who are members of bourses affiliated to the World Federation of Diamond Bourses (WFDB), but all members of the diamond trade across the world are welcome
Each Indian company that wins the right to display at the Bharat Diamond Week is entitled to one booth. Since trading in synthetic or lab-grown diamonds is banned in the BDB, so there will not be any such diamonds traded at the BDW.