Speaking via video conference on the first day of the International Diamond Conference (March 19), Indian Prime Minister Narendra Modi said that “the gems and jewellery sector is a prime example of the ‘Make in India’ and ‘Skill India’ initiatives”, according to a report in Rough & Polished.
Modi said: “We live in an era where diamonds are used in spectacles, watches and pens. Can’t our jewellers create and change global tastes and fashions? What is your strategy for increasing India’s share of the hand-made jewellery market? The industry could think of encouraging start-ups by entrepreneurs who can create a growing market for Indian jewellery”.
In February, the Multi Commodity Exchange of India Ltd. (MCX), India’s leading commodity derivatives exchange, and the Singapore Diamond Investment Exchange (SDiX), which is the world’s first and only commodity exchange trading in physically settled diamonds, signed a Memorandum of Understanding (MoU) to launch spot and derivatives contracts on diamonds in India using the SDiX-traded reference prices, Diamond World reports.
