Latest News | Gjepc, De Beers Group Partner to Strengthen Support for Natural Diamonds

Mumbai, Jan 7 (PTI) The Gem & Jewellery Export Promotion Council (Gjepc) on Tuesday entered into a partnership with the De Beers Group to strengthen the support for natural diamonds within the Indian gem and jewellery trade.

The collaboration titled, INDRA - Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India with tools that go beyond the conventional, GJEPC said in a statement.

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"Indra is designed to harness this momentum by tapping into India's young population, the rise of organised players, and increasing demand. This initiative reflects a shared vision to educate stakeholders, empower retailers, and boost consumer demand," Gjepc chairman Vipul Shah said.

The Indian gem and jewellery market, currently valued at USD 85 billion, is poised for rapid growth, projected to reach USD 130 billion by 2030.

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"India, with its vibrant economy, growing young population and large number of leading diamond businesses, holds a wealth of untapped potential. Presently in the Indian jewellery retail sector, the penetration of natural diamonds stands at only around 10 per cent, which is well below the rate seen in mature jewellery markets such as the US.

"Through this new collaboration with the GJEPC we will help unlock this growing opportunity for increased consumer demand for all types of natural diamond jewellery," De Beers Brands CEO Sandrine Conseiller said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)