Israel’s diamond industry in the 1980s differed considerably from its 1950s version. Until the early 1980s, a handful of large firms dominated the Israeli diamond industry. The nucleus consisted of European Jewish cutters who had immigrated during the Yishuv. In the 1970s, Israel surpassed Antwerp as the largest wholesale diamond centre, accounting for more than 50 per cent of all cut and polished gem diamonds. Diamonds were the only export in which Israel was more than a marginal supplier.
Unlike other industries, the diamond industry was affected entirely by external factors not under Israeli control. The diamond industry imported rough diamonds, cut and polished them, and then exported them. The slump in the industry from 1980 through 1982 surprised many Israeli firms that had speculative stockpiles. The result was a complete restructuring of the industry in FY 1984, and the creation of approximately 800 new and smaller manufacturing units. These small entities in mid-1986 concentrated exclusively on cutting, leaving the marketing to larger export firms. This latter task was supported by the 2,000-member Israel Diamond Exchange and the 300-member Israel Precious Stones and Diamonds Exchange, together with the quasi-governmental Israel Diamond Institute.
The success of this revitalization can be seen in the trade figures for the industry. In 1982 net diamond exports were US$905 million, equal to 18 per cent of total exports; in 1986, however, diamond exports had grown to nearly US$1.7 billion, or approximately 24 per cent of total exports.
The Diamond Controller of the Ministry of Industry, Trade & Labor: The Diamond, Gemstone and Jewellery Administration is the professional branch of the Ministry of Industry, Trade and Labor that handles all aspects of promoting the diamond, gemstone and jewellery industry, as well as development, modernization, and export of products abroad. The division for supervising diamonds operates as part of the Diamond, Gemstone and Jewellery Administration.
The Organizational Network :
Behind the Israeli Diamond Industry are a group of vital and dynamic institutions. Each one is responsible for a different aspect of the industry’s activities. Together, they work to ensure that Israel remains one of the world’s leading diamond manufacturing and trading centres.
The Israel Diamond Institute (IDI) and its subsidiaries — Israel Diamond Technology Center (IDT), The Israel Diamond Institute (IDI) is a non-profit, public interest company, which represents all organizations and institutions involved in the Israeli diamond industry. IDI’s main functions encompass marketing, business promotion and public relations; technological research and development; promotion of rough trading; professional training; security consultancy.
The Israel Diamond Exchange (IDE): The Diamond, Gemstone and Jewellery Administration is the professional branch of the Ministry of Industry, Trade and Labor that handles all aspects of promoting the diamond, gemstone and jewellery industry, as well as development, modernization, and export of products abroad. The division for supervising diamonds operates as part of the Diamond, Gemstone and Jewellery Administration.
The Israel Diamond Manufacturers Association (IsDMA). Israel Diamond Manufacturers Association for Advancement of the Israel Diamond Industry – the sole representative of the diamond manufacturers in the State of Israel.
The Israel Diamond Exchange :
IDI Brand Identity :
The Israel Diamond Industry is outstanding, since it is interwoven with a tradition that runs in families for generations. It’s special because leading jewellers prefer Israeli Diamonds more then any others. Because Israeli diamantaires are well-known for their willingness and flexibility, according to market trends and customer’s needs. Because it’s the industry always associated with 100% natural diamonds. And because Israel’s diamond exchange is world’s largest, most secure and convenient trading environment, where all your requests are fulfilled under one roof. That is what makes it “all that you could ask for in one.”