History Of The Israeli Diamond Industry

The history of the diamond industry in Israel is linked to the history of the Jewish People in Eretz Israel.

The idea of building a diamond industry in Eretz Israel was conceived as early as 1905, while the Zionist Congress convened. Belgian and Dutch Jews proposed to teach the diamond profession in Eretz Israel to orphans from the Kishinev pogrom, in an effort to assist the community.

Five years later, in 1910, entrepreneurs in Antwerp purchased polishing machines which they then sent to Jerusalem. However, they were pressured to abandon the idea of establishing a diamond center which would compete with Antwerp, and the machines were put in storage. 30 years later, the machines were taken out of storage, moved to Tel Aviv and put to work. The industry began to work as such only towards the end of the 1930s.

We present you with salient points in the history of the diamond industry. The information is based on material published by the “HaYahlom” magazine and the book “The Diamond in the Crown – The History of the Diamond Exchange”.

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  1930

  In the 1930s the first polishing factories open in the Land of Israel in Tel Aviv, Petah Tikva and Netanya. The British Mandate authorities approve rough diamond Imports for processing

  
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  1940

  In the 40's the industry organizations are formed such as the Israel Diamond Exchange, the Israel Diamond Manufacturers Association, the Diamond Cooperative and more.

  
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  1950

  In the 1950's the young Israeli diamond industry recovers from the War of Independence and expands. The Israeli industry holds the First International Diamond Congress in Israel

  
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  1960

  In the 1960's the Diamond Exchange moves to its new venue in Ramat Gan. The Israel Diamond Institute is founded and a new polishing machine is developed. A picture of a diamond appears on an Israeli stamp for the first time, and for the first time a diamond company wins the title of the Best Exporter of the year

  
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  1970

  In the 1970s organizations and institutions are established, like the Precious Stones Exchange, Nila – an organization of women diamantaires for volunteer activities, the Jewellery Manufacturers Association, and a Gemological Institute. In 1977, for the first time the value of polished diamonds export from Israel exceeds billion dollars

  
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  1980

  In the 1980s the Israeli diamond industry staves off crisis, the technological development continues; the 23rd Diamond Congress convenes was held in Israel and the Harry Oppenheimer Diamond Museum opens its gates to the public

  
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  1990

  In the 1990s the Israeli Diamond Exchange involves in the international scene, organizes the Meeting of Presidents of Diamond Bourses and the 27th Diamond Congress. The Diamond Tower, synagogue and the rough diamond trade room are inaugurated

  
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  2000

  In the first decade of the third millennium the first internet website called the Portal is launched. Israel holds its first jewellery show, the Diamond Exchange celebrates 70 years and Israel becomes Chair of the Kimberly Process

  
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  2010

  The past decade has been characterized by vigorous activity on the part of Israeli Diamond Exchange with aim of promoting diamond marketing. As the IDE celebrates its 80th anniversary, it proudly promotes technological developments