News

Sep 25, 2018

Over 1,000 Buyers Expected at 2nd Bharat Diamond Week in October

There has been a marked increase in registrations for the Bharat Diamond Week to be held in Mumbai from Oct 8-10 following the unfortunate impact that Typhoon Mangkhut had on the just concluded September Hong Kong Jewellery & Gem Fair, officials of the Bharat Diamond Bourse which is organising the event, said today.

Registrations for the week have already crossed 500 and are expected to be in excess of 1,000 by the time of the show.

Bharat Diamond Bourse (BDB) Vice-President Mehul Shah, who heads the Bharat Diamond Week project, said: “Since the typhoon struck, we have been contacted by many diamond buyers who were intending to visit the Hong Kong show. They had to readjust their plans because they were unable to visit exhibitors on their lists.”

BDB President Anoop Mehta said: "We have seen registration for the Bharat Diamond Week increase following the unfortunate events in Hong Kong earlier this month. It appears that many buyers did not have the time to make all the visits necessary as they brought forward their flights or were stuck in hotels waiting out the typhoon. We also heard many reports of other buyers, including many Indian colleagues, who cancelled their travel plans due to the approach of Typhoon Mangkhut."

It may be recalled that the initial part of the two-stage HK show, the segment devoted to loose diamonds and gemstones, had to close a day early due to the typhoon, while many international buyers had to cancel or cut short their visit to Hong Kong for the fair.

In order to create more sales opportunities for the 120 Indian companies who will be exhibiting polished diamonds at the show, the BDB has offered 100 free flight tickets for selected buyers from Turkey, Thailand and India. The bourse will also be providing 150 rooms for international buyers at a hotel close to the showgrounds.

The timing of the show will also enable buyers to get the benefit of competitively priced diamonds just before the start of the Diwali festival. Shah pointed out that “traders will be looking to sell goods ahead of the closure of business for the holiday".

A new feature at the second edition of the Bharat Diamond Week will be the onsite facilities for detecting CVD lab-grown diamonds. Shah said that since “it is critical for our business that consumer confidence in our products remains intact”, the bourse has organised a display of equipment for the detection of such stones. “It will give diamantaires the chance to see the equipment available, how straightforward it is to operate, and the financial outlay involved," he added.

Registration for the show can be done online at www.bharatdiamondweek.org.