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Israel and India Diamond Industries Sign Cooperation Agreement

The Israel Diamond Institute Group of Companies (IDI) has signed a Memorandum of Understanding (MOU) with the All India Gems & Jewellery Trade Federation (GJF), the IDI announced Monday. The MOU signifies the establishment of cooperation between both parties and a strengthening of their joint interests.

The MOU also calls for an ongoing exchange of information, an annual meeting to discuss relevant issues and a joint educational effort between the GJF and IDI.

"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," said IDI Chairman Moti Ganz.

This marks the second Indian trade group the IDI has solidified its ties with in recent months. In November, the group signed an MOU with the Gem and Jewellery Export Promotion Council of India (GJEPC).