ADDING VALUE TO THE SUPPLY CHAIN

SYNOPSYS: Themed on ‘shaping the future of the interconnected marketplace’, the recently-held Dubai Diamond Conference 2017 (DDC) offered a holistic platform for a series of insightful and strategic discussions and productive idea-exchanges involving experts and key industry stakeholders on a gamut of issues impacting the diamond as well as gems and jewellery industry as whole. The Retail Jeweller presents a brief review of the third edition of this biennial two-day conference held at the iconic Almas Tower in Dubai.

INTRO: This year DDC organised by The Dubai Diamond Exchange (DDE), a DMCC (‘Dubai Multi Commodities Centre’) platform, took place at a time when the industry is facing a series of issues, both at the trade and consumer level, related to sustainable business model, supply chain integrity (especially after the infiltration of lab-grown diamonds without disclosure), new taxation policies (GST in India and VAT in UAE), securing credit facilities from the financial institutions, to name a few. Along with discussing the prevailing challenges, DDC, which was held on October 16 and 17, highlighted various opportunities such as accentuating the relevance of diamonds among millennials, tender and auctions, etc.

The Conference, in a way, set the stage for all the stakeholders to share views and insights, reiterating its role in building a stronger future for the industry. “The topic on the sustainable development goals was a conversation starter, as producing and consuming nations met to seek innovative solutions that would create value for entire supply chain from mine to retail. Although great progress has already been made, all the stakeholders in the diamond industry need to come together to further explore the ways to scale up the efforts,” says Iris Van Der Venken, Director, Public Affairs and Policy, DMCC.