Kirit Bhansali, Vice Chairman, GJEPC, delivered a keynote speech at the inaugural session of the Doha International Diamond & Gem Conference, addressing industry leaders and stakeholders. He outlined the pressing challenges facing the natural diamond industry and proposed strategic solutions to ensure its sustainable growth.

Highlighting key global concerns, Kirit Bhansali noted:

• Declining end demand in China, a major diamond and jewellery market after the USA.
• Global supply chain disruptions caused by the Russia-Ukraine conflict.
• Increasing competition from lab-grown diamonds consuming growing mindshare among consumers.

He emphasized three crucial steps to strengthen the natural diamond segment:

“In these unprecedented times, I urge all stakeholders in the diamond industry to rise above differences, unite as one, and take bold measures,” kirit Bhansali stated.

1. Establishing a distinct and unique brand positioning for natural diamonds.
2. Investing in aggressive marketing and promotion to enhance consumer aspiration.
3. Positioning natural diamonds as an exclusive luxury commodity, balancing rarity and timeless value.

Kirit Bhansali also highlighted the strengthening trade relations between India and Qatar, with bilateral trade reaching $17.87 billion in 2022–23. He called for greater collaboration between Qatar’s jewellery sector and India’s world-class manufacturing capabilities and Qatar’s growing luxury market.