Diamond India to Hold First B2B Sale of Loose Stones

India’s first ever private B2B sale of diamond solitaires and colored gemstones is being organized in Mumbai June 21– 30t by Diamond India Ltd, a consortium of 58 leading Indian diamond manufacturers, including DTC Sightholders, Rio Tinto’s Select Diamantaires and BHP Billiton customers.

Goods on display will include solitaire diamonds of 1 carat and above in all shapes and colors and a range of precious colored gemstones – blue sapphires, rubies, ruby lights and emeralds of all shapes, sizes and qualities.

The event is a strictly B2B platform and is expected to have participation from major Indian diamond manufacturers and leading companies from Antwerp, Israel and the U.S. The recently formed Indo-Thai joint venture company Prakruti will also be displaying a range of colored gemstones.

Buyers at this by-invitation only event will be from among India’s top 500 retailers. Viewing and sale will take place at DIL’s Mumbai office by appointment only.

“We will be making vigorous marketing efforts to bring in leading retailers from all across the country through advertising on trade platforms, e-mailers, personalized invitations, etc.,” says Praveen Shankar Pandya, Chairman, DIL.

He adds that the organizers will ensure that all items have clearly defined prices and that there will be complete transparency in the process.

Ever since the government abolished the duty on cut and polished diamonds, there has been an increasing interest among international polished manufacturers to sell their goods in the Indian market, which today is one of the major diamond consuming markets worldwide. Indian jewelers report that the demand for large sizes is particularly strong.