Rapaport launches rapaport diamond price list in rupee

Mumbai, May 26 (ANI/Business Wire India): The Rapaport Group is pleased to announce the launch of the Rapaport Price List in Rupee.

It is available to all Rapaport subscribers at no extra charge and can be downloaded from the internet at www.diamonds.net/prices. Indian subscribers will also receive the Rupee Price List via email along with their U.S dollars price list.

The Rupee price list will be a straight conversion of prices from dollars to rupee based on the Reserve Bank of India Thursday exchange rate.

The new Rapaport Price List in Rupee recognizes the growing importance of India as the fastest growing consumer market for diamonds. Thousands of Indian jewelers trade diamonds every day and they need price information that is easy to use.

The Rapaport Group is committed to serving Indian retail markets that trade in Rupee in addition to international markets that trade in dollars.

"India is incredible. India's net diamond account doubled from $1.67 billion last year to $3.37 billion this financial year. At this growth rate India will overtake the U.S. as the primary consumer market for diamonds within three years," said Martin Rapaport, Chairman of the Rapaport Group.

"The Rapaport Group is firmly committed to supporting India's wholesale, retail and consumer sectors through added value products and services that support transparency, efficiency, competition and fair market trading. The new Rapaport Price List in Rupee will democratize diamond price information and increase consumer confidence as it provides downstream access to standardized price information," Martin added.

The Rapaport Group is an international group of companies providing added value services that support the development of free, fair, transparent and competitive global diamond markets.

Established in 1978, the Rapaport Diamond Report is the primary source of diamond prices and market information. Group activities include publishing, research and marketing services, internet information and diamond trading networks, global rough and polished diamond auctions, diamond certification, quality-control, compliance, shipping, and financial services.

Activities of the group include the development of markets for Fair Trade Diamonds and Jewelry as well as the creation of diamond commodity markets. (ANI)