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IDE's Yoram Dvash: 2017 shaping up to be more positive

After a tough 2015, last year provided the diamond industry with more stability and 2017 could be even better, says Yoram Dvash, President of the Israel Diamond Exchange (IDE) and Vice-President of the World Federation of Diamond Bourses (WFDB). In this...

Today

Education is the most important part of generic diamond promotion effort

The activity of World Diamond Mark® (WDM) established by the World Federation of Diamond Bourses (WFDB) to enhance consumers’ desire to buy natural diamonds is currently focused on the downstream segment of the diamond pipeline in the belief that the...

20 february 2017

There is more growth to come as global market turns to online purchasing

After living in UK and US for a considerable part of his life, Ashraf Ahmed returned to UAE where he lived as a child, only to set up shop in a sector he is passionate about... gem stones and jewellery. A graduate in Business & Finance, Ashraf is adequately...

13 february 2017

Global diamond jewelry sales are expected to decline slightly in 2016 - Bain & Company

Bain & Company, a leading global business consulting firm, offering solutions on issues of strategy and operations, works with over 2,700 major multinational corporations across every economic sector, including the diamond mining industry. Antwerp...

06 february 2017

Kristall is worried about the external environment, which is sometimes changing "categorically"

Kristall Production Corporation is the leader of Russia’s diamond-cutting industry. The company produces almost half of the total amount of diamonds, which are cut and polished in the country. Having over 50 years of diamond manufacturing experience...

30 january 2017

India demonetisation policy hits smaller, lower value rough diamonds trade – De Beers

11 january 2017
De Beers said trade in smaller, lower value rough diamonds are currently experiencing a slowdown as a result of the demonetisation policy in India.
However, group head of media relations Lynette Gould said in an exclusive interview with Rough & Polished that demand for their rough diamonds in the fourth quarter of 2016, the rest of the product mix, continued to be healthy.
She said sales also remained in line with seasonal expectations.
“Over the medium and long term, the supply-demand fundamentals of the diamond industry are positive and continue to point to future growth,” said Gould.
“India’s diamond consumer market has achieved almost uninterrupted growth over the last two decades, with demand for diamond jewellery expanding in 19 of the last 20 years, in rupee terms.
“In the last decade alone, the market has nearly trebled in size to about INR220 billion. And, the future is just as promising.”
She said India was home to a highly dynamic, growing consumer market; fuelled by a fast expanding economy, a widening consumer base and a culture where precious jewellery plays an intrinsic role in social occasions and family traditions.
“In particular, India’s middle classes are growing rapidly, with the purchasing power of the highest income households expected to rise at the fastest pace,” Gould said.
“So in the long run, we believe there is as much untapped opportunity for the diamond industry in India as anywhere else in the world.”

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished

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