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GJEPC to invest $10 million on consumer diamond and diamond jewellery promotion in India
Consumer diamond jewellery promotion will also be focused at the 35th World Diamond Congress
By: Diamond World News Service
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Aug 27 2012 5:39PM
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Reference: 7207  

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Sanjay Kothari, vice chairman of the GJEPC, announced during the International Indian Jewellery Show that for the coming three years the GJEPC is expected to allocate close to $10 million on diamond jewelry promotion to consumers within India. He cited that a lacuna exists in generic diamond and diamond jewellery promotion, and the Indian diamond and jewellery industry had waited long enough 'for others to step into the void'. "India is the most important market for us and we've resolved to start our diamond promotion efforts right here. We intend to allocate during the coming three years between two to three million US dollars per year toward this goal, " he added.

Mr. Kothari said that the GJEPC is communicating with the Diamond Administration of China (DAC), for similar efforts.

IDMA president Moti Ganz said, " The GJECP is now pointing the industry into a new direction" and that it would inspire other industry organisations to follow. He also noted that "Unfortunately, past efforts to convince the major diamond producers to establish and support the International Diamond Board for diamond promotion to consumers have not succeeded despite the industry's best efforts".

The issue of diamond and diamond jewellery promotion to consumers will be a key agenda at the 35th World Diamond Congress (WDC). Mr. Ganz added, "I am confident that during our discussions at the upcoming Congress in October, in Mumbai, India, we will develop practical plans toward the international implementation of this welcome initiative."

The Congress is the joint biennial meeting of the International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses (WFDB), and is slated in Mumbai, India, from October 14 to 17. It is organised and hosted by the Gems & Jewellery and the Bharat Diamond Bourse (BDB).

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