IDMA Treasurer Urges Need for Long-Term Competitiveness in Global Diamond Industry

The diamond manufacturing industry needs to ensure
“long-term competitiveness” if it is going to remain viable, Stephane Fischler,
treasurer of the International Diamond Manufacturers Association, said at the
2010 China Diamond Conference in Shanghai Dec. 1.

Fischler, who also appeared in his capacity as chairman of
the International Diamond Council, discussed the geopolitical shifts and the
financial dynamics the industry has experienced, and in particular the
development of new consumer markets in India and China. 

He addressed issues such as the effect the proportional
increase of the ageing population has on both the traditional and newer
consumer markets; the need to support and raise awareness among industry
members about consumer confidence issues; and sticking to best business
principles.  

Within this framework, Fischler introduced and presented the
Chinese translation of the IDC Rules. “These will no doubt contribute to
enhancing the trust and comfort level of the Chinese consumer in diamonds and
diamond jewelry,” said Fischler.