The Israeli Diamond Industry and the All India Gems & Jewelry Trade Federation (GJF) signed a Memorandum of Understanding (MOU) on December 20th.

The MOU was signed at a ceremony held in Jaipur by Mr. C. Vinod Hayagriv, Chairman of the GJF and Mr. Eli Avidar, Managing Director of the IDI Group of Companies.

In the MOU, the parties stressed their shared desire to promote positive mutual relations and to enhance areas of cooperation in addition to intensifying dialogue regarding issues of mutual interest.

The parties agreed to cooperate in the following areas:

An examination of joint interests to safeguard the industry

An ongoing exchange of information for the benefit of the members of both organizations

An annual meeting to examine and plan the subjects on the agenda

Joint educational efforts including seminars presented by both of the parties to the agreement





The GJF is a national trade federation dedicated to the promotion and growth of trade in gems and jewelry across India. The Federation unites manufacturers, wholesalers, retailers and exporters from all over India.

Following the signing ceremony, IDI chairman Moti Ganz noted: "The Indian market has shown significant growth over the past year, compared with other target markets. We want to open every possible door for our friends, and cut the distance between the Israeli center and the end client in India, short."

Managing Director Eli Avidar noted: "The economical Indian giant is growing stronger, as gross national product in 2009 – a year when other Western economies were faltering – rose by 7%. We intend to focus effort in that direction."

Last month the Israeli Diamond Industry signed an MOU with its Indian peer, the Gem and Jewellery Export Promotion Council of India (GJEPC), in order to establish and enhance areas of cooperation between the two parties.