WDC India 2014: Delegates Speak

#Post 1:

Maxim Shkadov, President, IDMA on WDC India – “The World Diamond Conference 2014 has been a very interesting experience. The leaders of the business have come together to witness the dynamism of the Indian diamond industry. The trade in India is concentrated with manufacturing but it needs to open up to other avenues of the trade. It was even more of a remarkable event as our President Vladimir Putin graced the occasion yesterday. He himself said that he has never attended such events but he made his presence felt here.

Russia is the leading rough mining country and India is the largest diamond manufacturing country. The relationship between these two countries is very, very important to be nourished. Russia to has a manufacturing side, not very big as India but it's present. We are very proud of our manufacturing abilities and will be concentrating on it.

I would like to see that India and Russia come together in terms of manufacturing to become one formidable unit. I would like to see Indian and Russian systems to join. The contract between India’s 12 leading diamond companies and Russia’s ALROSA is a great initiative as it eliminates the middle men involved and can foster better relationships between the two countries.”

#Post 2: Stephane Fischler, President, AWDC says, “It is a good sign that two big leaders such as the Indian prime minister and Russian president have come together for this. On international level, it won't make a huge difference. The channels are already set. It's important that we work together. I still believe that this industry sustains on trust and faith. Very few have challenged the trust between banks and we need to change that. The need to prepare the next generation of the industry is very pressing to see more giants like Venus Jewel, Hari Krishna Exports, etc. from India.

Reputation can be lost but cannot be found again. We have to take the responsibility when traders are abused, bankers are abused, service providers are abused. We have to work together and take action when such incidences of distrust occur.”

#Post 3:

Edward Asscher, Chairman, World Diamond Council (WDC) says,

“The things that have been discussed today could be a risk to the compliance of KP. And, we at the WDC will always make all efforts to retain the sanctity of KP as that is very helpful to African countries and other producer countries.

The more and more companies are stressing on transparency today. Marketing and branding is very important. You have to develop direct customers through branding. One needs to specialise in one thing rather than doing everything for everyone because that is very dangerous.”

#Post 4:

Siddharth Singh, Joint Secretary, MOC&I says,

“As we are coming to an end of the dynamic two days, I take this opportunity to congratulate the industry on the new milestone of ALROSA contracts. There was a Russian flavour premeditated in the conference but it indeed was a world conference. The whole objective was to get all the stake holders together. We all knew the problems but it's good to hash it out again. Times are changing and we have to follow in line. The government's role is to ensure responsible diamond mining and second is to ensure that the trade is transparent and ethical. The government has to facilitate not do business. Honourable PM has given us direction already by announcing Special Notified Zones. He gave us the direction and we have to take it forward.

The global diamond industry should be looked at as one big unified company and should be seen as one balance sheet. This will show the health of the industry. Skill development is also very important and is government's job to ensure that. We already have established schools in Surat, Jaipur, Mumbai which develops skills and ensures employment.”

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