Hong Kong Indian Group Officially Launched

A group of Hong Kong-based Indian diamond companies have launched the Hong Kong Indian Diamond Association (HKIDA), which aims to protect and promote the natural diamond trade.

Ramesh Virani, chairman of HKIDA, cited the support and commitment of the association’s 35 founding members, which include the largest Indian diamond traders and jewelry manufacturers in Hong Kong, according to a report in Jewellery News Asia.

According to Virani, HKIDA’s primary aim is to ensure consumer trust in the diamond industry. The association functions as a single platform where members can share industry knowledge and benefit from a range of incentives including provision of legal advice and bank reference as well as use of the HKIDA office to test diamonds, among other perks.

“We have all worked hard to achieve this. The day has finally come when we have successfully established the HKIDA,” said Virani. “The business environment is volatile and many diamond companies face problems in their day-to-day operations. With this new platform, we now have the opportunity to unite to overcome these problems.”

“I am grateful to the entire community and to the founding members for putting their trust in us to give our industry a new beginning that, in turn, will bring new opportunities to our trade,” Virani continued.