The name of Martin Rapaport is popular among the people in diamond industry. One of the proponents of Kimberley Process, a much-talked-about since 2003, the author of the Rapaport Diamond Report, the standard for the pricing of diamonds, maverick involved in many activities he, at last, is the host of the annual Rapaport Diamond Conference, the event we are to focus on now.
Normally held in New York, this year the IDC moved to Mumbai. The Asian diamond market is very welcoming and is gaining momentum fast. According to statistics, each second couple in Beijing, Guangdong and Shanghai would pick up a diamond ring for their engagement and wedding ceremony. There is a range of reasons that contribute the tendency: increased prosperity, change in engagement/wedding traditions, opening of GIA grading laboratory are among the main. Indian diamond market is also one of the most perspective these days, that the reason for hosting the conference there Martin Rapaport thinks.
“As diamond demand and prices go through a boom bust cycle, India is the market to watch. While the US and China are important sources of demand, how India handles rough supply and polished demand will define short term recovery opportunities," said Rapaport.
August 29 is going to be a big day for a number of industry experts who are to concentrate on such issues as diamond pricing in India, India's banking environment, diamonds for investments and synthetic diamonds.