MOU between the Indian and Israeli Jewelry Industry

The Israeli Diamond Institute Group of Companies (IDI) has signed a Memorandum of Understanding (MOU) on Monday the 4th of January 2010 with the All India Gems and Jewellery Trade Federation (GJF).

The MOU is expected to establish cooperation between the two industries. In late November a similar MOU was signed between the IDI and the Gem and Jewellery Export and Promotion Council of India.

The MOU which was signed in Jaipur by Mr. Eli Avidar, Managing Director of IDI and Mr. C. Vinod Hayagriv, chairman of the GJF 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; and
A joint educational effort.

The main aim of the GJF is to promote gema and jewellery across India. It is an organization uniting manufacturers, retailers, wholesalers and exporters all over India.

Vinod Hayagriv the Chairman of the GJF 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.”

Moti Ganz, Chairman of IDI 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.”

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