The Rapaport International Diamond Conference (IDC) will take place Thursday, October 21, 2010 at The Times Center in New York, a Rapaport press release said.



The one-day New York conference is renowned for identifying important trends in the diamond industry. This year, the meeting will focus on “Diamond Demand” and “Human Rights and the Diamond Industry – The Way Forward.”



The session on “Diamond Demand” is expected to debate the future of the diamond industry: who will future diamond consumers be, what will they buy, and – perhaps most importantly – why will they buy?



Rapaport believes that while globalization will continue to impact the diamond markets, "The greatest challenge will be to understand the demographics of the next generation of diamond consumers. Whether it is in the US, China or India, opportunities await those that take the time and make the effort to truly understand what motivates their customers."



The session on “Human Rights and the Diamond Industry – The Way Forward” is expected to debate finding reasonable and pragmatic solutions to the ethical problems the diamond industry faces. The session will feature experts in the field of business and human rights, law and ethics will participate in open discussions.



"Over the next few years, diamond demand will be more important than diamond supply," said Martin Rapaport, Chairman of the Rapaport Group. "Those that anticipate and meet the needs of their customers will prosper, while those that don’t won’t. Understanding diamond demand is the key to your success.



“The diamond trade needs to confront the problem of human rights head on. Instead of complaining about the problem, it’s time for us to focus on solutions and identify the way forward for ourselves and our industry,” Rapaport added.



All revenue from the conference will be donated to the Fair Trade Jewelry Association, a US-registered charity.