The Hong Kong Indian Diamond Association (HKIDA) is the latest non-bourse organisation to join the World Federation of Diamond Bourses (WFDB) – a move that supports the latter’s strategy to broaden its influence in the trade.

Founded in 1947 as an umbrella organisation for diamond bourses and their members, WFDB has been inviting non-bourse industry players to its ranks as a means to expand its reach.

As an associate member, HKIDA has been granted an observer status in various organisational forums. HKIDA is a group of Indian natural diamond dealers based in Hong Kong. Founded in 2015, the association holds events and seminars on financing, technology and innovation and latest industry trends for its members. It also hosts pavilions at international exhibitions in Hong Kong.

Yoram Dvash, acting president of the WFDB, commented, “The HKIDA represents dozens of diamond companies who form a significant force in the diamond industry. The more players we bring to the WFDB table, the stronger we are together.”