The Israel Diamond Institute Group of Companies (IDI) has signed a Memorandum of Understanding (MOU) with the All India Gems & Jewellery Trade Federation (GJF) for the establishment of areas of cooperation between the two parties, reports IndiaPRWire Tuesday.
The MOU was signed at a ceremony in Jaipur by C. Vinod Hayagriv, Chairman of the All India Gems & Jewellery Trade Federation and Mr. Eli Avidar, IDI Managing Director.
The MOU states that the two parties share the desire to promote positive relations between the Indian Gems & Jewellers Industry and the Israeli Diamond Industry, and to enhance areas of cooperation between them, as well as to intensify the dialogue concerning issues of mutual interest via collaboration between the parties.
The MOU 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;
- A joint educational effort.
In addition, the parties will determine by mutual consent the level, agenda, time and place of consultations and other forms of cooperation. Moreover both parties will grant each other honorary membership in all functions and events taking place under the auspices of the two organizations.
The All India Gems & Jewellery Trade Federation is a national trade federation for the promotion and growth of trade in gems and jewellery across India. The Federation unites manufacturers, wholesalers, retailers and exporters all over India.
GJF Chairman C. Vinod Hayagriv 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”.
IDI Chairman Moti Ganz 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.”
This is the second MOU that IDI has signed with India in the past four weeks. The first MOU was signed in November with the Gem and Jewellery Export Promotion Council of India (GJEPC).
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