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WFDB President Pledges Increased Cooperation with India

January 03, 06 by IDEX Online Staff Reporter

At the opening of the Jaipur Jewellery Show 2005, Shmuel Schnitzer, president of the World Federation of Diamond Bourses (WFDB), praised the enormous growth of India's diamond, gem and jewelry industry and trade and pledged increased cooperation between the WFDB and India.

 


WFDB President Schnitzer cutting the ribbon
at the opening of the Jaipur Jewellery Show

Before the show, Schnitzer had said that his attendance there should be seen as yet another token of the international diamond, gem and jewelry industry’s acknowledgment of those industries in India. “India’s economy is expected to reach the size of that of Europe within a decade and a half. Our own industry is already witnessing a shifting of the goalposts, with India and China becoming central players,” he had said.

 

Reiterating this at the show, Schnitzer acknowledged the enormous changes that the Indian diamond, gem and jewelry industries are going through, especially as the reputation of Indian goods increases. The WFDB president urged all players in the Indian jewelry industry to continue to develop original designs, rather than resorting to generic designs. He also stated that he was pleased that diamonds of all shapes and colors made up an important part of almost every piece of jewelry he saw at the show.

 

Speaking about the WFDB, Schnitzer noted that the WFDB aims to take an ever stronger and more visible role in leading the industry. As such, he welcomed the increasing role that the Bharat Diamond Bourse is playing in the organization

 

“Only a few weeks ago, we concluded the bi-annual WFDB Presidents’ Meeting that was held in Mumbai. While two years ago, I was honored, as WFDB President, to have the opportunity to welcome India as a member of the World Federation of Diamond Bourses. I believe that very soon we will also accept Anoop Mehta, the president of Mumbai’s Bharat Diamond Bourse as a permanent member of the WFDB Executive Committee, which is surely appropriate, since a diamond center as important as India deserves a position at the heart of public activity in the world diamond industry,” Schnitzer stated.

 

Upon his return form Jaipur, Schnitzer said he expects Indian diamantaires will take a keen interest in adopting the WFDB Mark. “Members of the Indian diamond trade should take a keen interest in adopting the WFDB and it marketing program, as they stand to benefit most from it.”

 

Jaipur, located in India’s northern state of Rajasthan, is a leading center for gemstone cutting and jewelry making.

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