The Gem and Jewellery Export Promotion Council [GJEPC] announced the initiation of ‘GENERIC DIAMOND PROMOTION’ to promote Diamond of various sizes in India. This promotion is most awaited by the industry and is pitted to uplift the entire Diamond Industry to a new high. GJEPC has partnered with De Beers, Worlds largest privately owned Diamond mining company in terms of equity stake to participate in this important initiative for the country. A Memorandum of Understanding in this regard has been signed between the two entities.

Speaking during the launch of this initiative, Pravin Shankar Pandya the current Chairman of GJEPC stressed on the fact that this campaign will bring back the glory and pride of buying a Diamond jewellery among the consumers. According to him extensive advertising and promotional campaign is planned for the country in television, print and social media. Sailesh Sangani, a core member overlooking the promotional mediums added that this promotion will last for a period of three months and will be instrumental in bringing back consumers to the jewellery store in time for the festive and wedding season.

The total budget earmarked for this program will be close to 50 Crore Indian rupees, all of which will be spent on promoting Diamond’s in the consumer sector. The Generic Diamond Promotion is slated to target the youth of India between the age group of 25 to 35 years and is an important step to counter the growth of electronics, automobiles and other luxury sectors, most of whom have eaten up a considerable market share of Diamond jewellery.

The GJEPC also has plans to tie up with other associations in China, Taiwan etc to replicate Generic Diamond Promotion activity in those countries too. This, if happens will reassure the world of India’s leadership status in the Diamond sector.