GJEPC plans to pump in nearly $10 mn on diamond jewellery promotion in India

Gems and Jewellery Export Promotion Council (GJEPC) is mulling to invest nearly $10 million on diamond jewellery promotion to consumers within India in coming three years, as announced by Sanjay Kothari, vice chairman of the GJEPC, recently during the International Indian Jewellery Show.

This is the right time for Indian diamond and jewellery industry to take affirmative action and take the lead, he said.

“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 expressed further.

He also that India and China should take the lead in promoting diamond jewellery to the consumer public.

In the same development, GJEPC has started deliberations with the Diamond Administration of China (DAC), the highest ranking governmental body that regulates the Chinese diamond industry, in order to create similar efforts for the Chinese consumer market.

Congratulating GJEPC on its efforts, International Diamond Manufacturers Association (IDMA) president Moti Ganz said, “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 GJEPC is now pointing the industry into a new direction and as it kickstarts its campaign, other industry organizations cannot but follow this example. 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.”