Indian Diamond Consumer Market Comprises Of Only 7% In World
India's growing consumer market has encouraged many associations which boosted the sale of goods and services across industries. In order to drive the potential of the diamond market, the Diamond Producers Association (DPA) launched their new campaign #RealisRare on 16/11/2017 to drive the consumer market of India which is at 7% currently.
The launch also announced the operations in the country to strengthen the diamond sector by promoting the integrity and reputation of diamonds. The DPA also ensures that diamonds also bear a heavy economical value. The companies that formed the alliance comprise of 75% of the world's diamond production together. The mining companies include ALROSA, De Beers, Dominion, Gem Diamonds, Lucara Diamond, Petra Diamonds and Rio Tinto.
Jean-Marc Lieberherr, CEO, Diamond Producers Association at the launch said, "India is the natural home of diamonds. It is where they were first found and where they are being cut and polished. It is only natural that the PDA should focus its efforts on working with the local trade to realise the potential of India as a diamond market".
At the launch, the PDA mentions that the United States of America holds 45% of the diamond consumers market in the world and is the most profitable for the association. India which is at 7% is gradually increasing which is also giving room to a lot of potential in the consumers. The DPA is also working closely with the GJEPC to build trade relationships and strong consumer connection in India. The first of such initiatives is the launch of the marketing campaign in India "Real is Rare. Real is Diamond", which has also launched 2 television commercials as well.
Praveenshankar Pandya, Chairman, GJEPC opined on the working relationship with the DPA. He said, "We believe that the DPA's initiatives will go a long way in growing the diamond sector in India. This would also augment connect between diamonds and their significance in consumer's lives".
Richa Singh, Managing Director India, DPA also commented on the goals of the Diamond Producers Association. She said, "I am focused on working towards the goals of the DPA in India. Our core objective would be to strengthen the DPA's engagement with industry, non-industry organisations and create a strong connection with consumers to build the diamond category".
The DPA is planning to invest 70 Million Dollars for their worldwide operations by 2018 out of which 50 Million Dollars would be utilized in the U.S.A. market.
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