MEDIA RELEASE PR37705
The Israeli Diamond Industry Signs Memorandum of Understanding With All India Gems and
Jewellery Trade Federation
RAMAT GAN, and MUMBAI, Jan 4/ PRNewswire-AsiaNet/ --
The Israel Diamond Institute Group of Companies (IDI) announced today that a Memorandum of
Understanding (MOU) has been signed with the All India Gems & Jewellery Trade Federation (GJF)
for the establishment of areas of cooperation between the two parties. The MOU was signed at a
ceremony in Jaipur by Mr. C. Vinod Hayagriv, Chairman of the All India Gems & Jewellery Trade
Federation and Mr. Eli Avidar, IDI Managing Director.
The MOU states that the two parties share the desire to promote positive relations between the
Indian Gems & Jewellers Industry and the Israeli Diamond Industry, and to enhance areas of
cooperation between them, as well as to intensify the dialogue concerning issues of mutual interest
via collaboration between the parties.
The MOU calls for:
- 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 subjects on the agenda;
- A joint educational effort.
In addition, the parties will determine by mutual consent the level, agenda, time and place of
consultations and other forms of cooperation. Moreover both parties will grant each other honorary
membership in all functions and events taking place under the auspices of the two organizations.
The All India Gems & Jewellery Trade Federation is a national trade federation for the promotion
and growth of trade in gems and jewellery across India. The Federation unites manufacturers,
wholesalers, retailers and exporters all over India.
GJF Chairman C. Vinod Hayagriv said: "This marks a new, unexplored and exciting opportunity
for Israel and India to seek each others strengths to widen their markets. The direct access will help
businesses of both countries immensely as this partnership will help businesses of varying sizes to
come together for a common purpose of commerce. Also envisaged is education and knowledge
transfer between India and Israel".
IDI Chairman Moti Ganz said: "This is an extremely important moment in the relations between
the Israeli and Indian diamond and jewelry industries. We truly believe that we have a common
interest and through partnership we will be able to benefit our members. The MOU is just the
foundation for the joint projects yet to come."
This is the second MOU that IDI has signed with India in the past four weeks. The first MOU was
signed in November with the Gem and Jewellery Export Promotion Council of India (GJEPC).
Sharon Gefen
Tel: +972-3-5442999, +972-54-4494494
E-mail: sharon@gefenltd.com
SOURCE: Israel Diamond Institute
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