Israeli Diamond Industry
The Israeli Diamond Industry is one of the most important and largest diamond centers worldwide. In addition to its status as a leading polishing center, the Israeli Diamond Industry has developed into an international trade center through which rough and polished diamonds pass regularly and subsequently adorn a significant volume of the diamond jewelry sold all over the globe.
The Israeli Diamond Industry is based on a tradition that goes back hundreds of years. It prides itself on its skillfulness, resourcefulness and uniqueness as well as its unprecedented creativity and cutting-edge technology. It adheres to a strict ethical code and offers buyers a wide variety of merchandise and services all under one roof.
The General Labor Federation – Histadrut – also is a part of the industry’s activities, particularly in diamond factories and polishing plants.
The Israeli Diamond Industry’s high technological standards, its skilled and trained manpower, as well as the incorporation of the second and third generation in the Industry, help to preserve its status as an international leader even during world recessions.
Among the various entities that function within the Israeli Diamond Industry is the Israel Diamond Institute Group (IDI), which plays a central role in promoting the industry worldwide. The IDI Group, along with its subsidiaries and various units, acts effectively to develop new horizons and innovative methods that help to position the Israeli diamond industry at its fitting place in the forefront of the world industry and sophisticated technological research.
IDI shareholders include the Israeli government, the Israeli Diamond Exchange, the Israel Diamond Manufacturers Association, and other industry stakeholders. The Israeli government also plays a role in the Israeli Diamond Industry through the Diamond Controller within the Ministry of Economy, who supervises the import and export of diamonds in Israel.
The IDI Group activity is conducted via its offices in Israel, including the Israel Diamond Technology Center. The Israel Diamond Institute (IDI) Group plays a leading role in promoting a transparent, fair and ethical diamond trade worldwide. IDI chairman, Mr. Yoram Dvash, is a member of WDC boards of directors, and a member of CIBJO boards of directors and executive committee. IDI managing director, Mr. Aviel Elia, is a member of CIBJO board of directors, and a member of the Kimberley Process (KP) task force.
Both the Israel Diamond Exchange, which represents Israeli diamond merchants, and the Israel Diamond Manufacturers Association, which incorporates Israeli diamond manufacturers, act in various ways to strengthen and improve the status of Israeli diamantaires vis-a-vis governmental bodies and international organizations.