The Gem and Export Promotion Council (GJEPC) says it is developing its own consumer diamond jewellery promotion campaign after several failed attempts by major diamond producers.
The announcement came during the International Indian Jewellery Show (IIJS) in Mumbai. GJEPC vice-chair Sanjay Kothari says the initiative will be a hot topic of discussion at the 35th World Diamond Congress to be held in that city Oct. 14 to 17.
Kothari said the council is expected to allocate close to $10 million US over the next three years, adding India’s diamond and jewellery industry has waited long enough for a consumer campaign to be developed. GJEPC has also reached out to the Diamond Administration of China (DAC) to create similar efforts for the Chinese consumer market.
“India is the most important market for us and we’ve resolved to start our diamond promotion efforts right here,” Kothari said.
The World Diamond Congress is a biennial meeting of the International Diamond Manufacturers Association (IDMA) and the World Federation of Diamond Bourses (WDFB).
“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,” said IDMA president Moti Ganz.
“The GJEPC is now pointing the industry in a new direction and as it kick-starts its campaign, other industry organizations cannot help but follow this example. I am confident during our discussions at the upcoming congress, we will develop practical plans toward the international implementation of this welcome initiative.”
