Introduction of WFDB Mark tops agenda of president’s meeting in India

The leadership of the World Federation of Diamond Bourses will hold its biennial Presidents Meeting at the Hotel Taj Palace and Towers Mumbai on Nov. 13. This will mark the first time that an official gathering of the body has taken place on the Indian subcontinent.

One of the goals set for the Presidents Meeting in Mumbai is to formulate a plan to introduce the WFDB Mark into the international jewelry market. The WFDB Mark is the cornerstone of a new WFDB program and is most visible icon of the program. It is a trademarked logo, which approved members of WFDB-affiliated diamond exchanges will be able to display to clients and suppliers, to confirm that they abide by the world federation’s better business principles.

“The WFDB Mark Program will send a strong signal to the jewelry industry and emphasize the benefits of doing business with members of WFDB-affiliated diamond exchanges,” WFDB president Shmuel Schnitzer said in a statement.

With the world economy under significant pressure, Schnitzer also noted that the 2005 Presidents Meeting is being held at a significant time for the diamond and jewelry industry.

“But the fact that we are holding it in India, one of the hotbeds of growth in Asia, is particularly noteworthy,” he said. “India and China together represent the two regions of massive growth for diamond jewelry, and provide us with confidence that the long-term health of the business is assured.”

The WFDB conducts a presidents meeting every year following a World Diamond Congress, which is the official forum when the General Assembly of the organization meets.

The three-day meeting is being held in conjunction with the International Diamond Manufacturers Association event and is being hosted by the Bharat Diamond Bourse and the Indian Gem & Jewellery Export Promotion Council.