GJEPC And De Beers Group Forge Strategic Collaboration to Promote Natural Diamonds
As India becomes the world’s fastest growing major diamond jewellery market, industry leaders De Beers Group and GJEPC will collaborate to support the gem and jewellery trade with education and promotional assets to support the natural diamond narrative
MUMBAI, INDIA - Media OutReach Newswire - 9 January 2025 - De Beers Group, the world's leading diamond company, and the Gem & Jewellery Export Promotion Council (GJEPC), India's apex jewellery trade body, today announced the commencement of a strategic collaboration to strengthen the natural diamond narrative 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. For example, leveraging Artificial Intelligence to create customized retailer campaigns. From multi-lingual marketing assets to immersive storytelling and superior customer experiences, as well as in-depth natural diamond jewellery training in local languages, it will support India's jewellery retailers with the tools they need to make sure that natural diamonds resonate deeply with every consumer who walks through their doors. Interactive roadshows regarding the collaboration will commence in January 2025, at which GJEPC members will be able to enrol in the programme.
Vipul Shah, Chairman, GJEPC, 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. Indra is designed to harness this momentum by tapping into India's dynamic young population, the rise of organised players, and increasing demand across bridal, everyday wear, fashion, and entry-level jewellery. This initiative reflects a shared vision to educate stakeholders, empower retailers, and boost consumer demand, all while highlighting the timeless value of natural diamonds."
Sandrine Conseiller, CEO of De Beers Brands, said: "India's diamond growth story is quite remarkable, and it has now become the second largest market in the world for retail sales of diamond jewellery. However, with its vibrant economy, growing young population and large number of leading diamond businesses, India still holds a wealth of untapped potential. Presently in the Indian jewellery retail sector, the penetration of natural diamonds stands at only around 10% 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, including bridal, everyday wear and entry level pieces."
Retailers will be able to register for the programme on www.INDRAonline.in and will benefit from multi-lingual staff training modules focused on generic natural diamond product knowledge as well as access to a market intelligence portal. The programme will also provide customisable marketing assets and content for retailers to promote natural diamonds at a store level as they seek to enhance their returns and expand their customer base.
With 10,500+ members, GJEPC is the apex body driving India's gem and jewellery sector. Through its three large scale IIJS Shows, as well as multiple roadshows and direct outreach activities, GJEPC has the potential to reach a broad range of the businesses comprising the Indian gem and jewellery industry. Through this collaboration, the two partners will capitalise on GJEPC's deep understanding of the Indian market built up over five decades, combined with De Beers Group's expertise in the diamond category.
The new collaboration follows the GJEPC's adoption of the updated definition, nomenclature and guidelines for diamonds specified by the Federal Trade Commission (FTC) of the United States (US). The FTC's updated guidelines provide distinct terminology standards, supporting clarity and transparency both for industry stakeholders and consumers.
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About De Beers Group
Established in 1888, De Beers Group is the world's leading diamond company with expertise in the exploration, mining, marketing and retailing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world's largest diamond producer by value, with diamond mining operations in Botswana, Canada, Namibia and South Africa. Innovation sits at the heart of De Beers Group's strategy as it develops a portfolio of offers that span the diamond value chain, including its jewellery houses, De Beers Jewellers and Forevermark, and other pioneering solutions such as diamond sourcing and traceability initiatives Tracr and GemFair. De Beers Group also provides leading services and technology to the diamond industry in the form of education and laboratory services and a wide range of diamond sorting, detection and classification technology services. De Beers Group is committed to 'Building Forever,' a holistic and integrated approach for creating a better future – where safety, human rights and ethical integrity continue to be paramount; where communities thrive and the environment is protected; and where there are equal opportunities for all. De Beers Group is a member of the Anglo American plc group. For further information, visit www.debeersgroup.com.
About The Gem and Jewellery Export Promotion Council (GJEPC)
The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country's export thrust, when India's post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 10,500+ members in the sector. With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.
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