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Informist, Tuesday, Jan. 7, 2025

 

MUMBAI – The Gem and Jewellery Export Promotion Council and the De Beers group have announced a collaboration to support independent retailers in India with education and promotional assets, to fuel the natural diamond narrative, according to a release by the council on Tuesday.

 

The collaboration, titled 'INDRA - Indian Natural Diamond Retailer Alliance', will use artificial intelligence, multilingual marketing assets, and training in local languages to assist Indian retailers with their sales.

 

"The Indian gem and jewellery market, currently valued at $85 billion, is poised for rapid growth, projected to reach $130 billion by 2030... this initiative (the collaboration) reflects a shared vision to educate stakeholders, empower retailers, and boost consumer demand, all while highlighting the timeless value of natural diamonds," the release quoted Vipul Shah, chairman of the council, as saying.

 

"Presently, in the Indian jewellery retail sector, the penetration of natural diamonds stands at only around 10%, which is well below the rate seen in mature jewellery markets such as the US. Through this new collaboration, we will help unlock this growing opportunity for increased consumer demand for all types of natural diamond jewellery, including bridal, everyday wear and entry level pieces," the release quoted Sandrine Conseiller, chief executive officer of De Beers Brands, as saying.

 

Retailers will be able to register for the programme on www.INDRAonline.in to use the various tools and the market intelligence portal, the release said. The programme will also provide customisable marketing assets and content for retailers to promote natural diamonds at a store level to enhance their returns and expand their customer base. 

 

Interactive roadshows regarding the collaboration will commence this month, at which council members will also be able to enrol in the programme.  End

 

Reported by Shreya Shetty

Edited by Ashish Shirke

 

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