DiamondBuzz
GJEPC addresses key India challenges at IDMA’s 23rd Presidents’ Meeting in New York
Anoop Mehta, Co Convener, Diamond Panel Committee and in the capacity of being the representative of GJEPC at IDMA delivered a compelling address at the International Diamond Manufacturers Association’s (IDMA) 23rd Presidents’ Meeting in New York. Also present at the event was Sabyasachi Ray, Executive Director, GJEPC, reaffirming the Council’s commitment to addressing industry concerns and strengthening global partnerships.
A key concern is the impact of the G7 sanctions on Russian diamonds. Mehta acknowledged India’s commitment to ethical sourcing but warned that the sudden reduction in Russian rough supply-down by 37%-poses significant challenges. The sanctions could destabilise not only India’s diamond industry but also the global pipeline, with small workshops particularly vulnerable to rising traceability costs.
Mehta’s speech underscored the challenges and opportunities facing India’s diamond industry. highlighting the sector’s resilience amid global disruptions. He revealed that India’s rough diamond ports declined by 18% in volume and 34% in value e the past two years, while polished exports fell.
A high-level Belgian delegation arrived at the Bharat Diamond Bourse (BDB) in Mumbai on 3rd December, bringing renewed focus to the deep commercial and cultural ties that link India and Belgium’s diamond sectors.
The Belgian delegation included HE Ambassador William Asselborn, Director for Asia and Oceania at the Belgian Ministry of Foreign Affairs; Frank Geerkens, Consul General of Belgium in Mumbai; Brigadier General Mario Engels, Defence Attaché from the Embassy of Belgium in New Delhi, along with senior representatives from Flanders Investment and Trade.Eva Verstraelen and Filippe De Potter.
Kirit Bhansali, Chairman, GJEPC, and Shaunak Parikh, Vice Chairman, GJEPC, joined Mehul Shah, Vice President, BDB, and other bourse officials in welcoming the delegation for a formal interaction and tour of the world’s largest diamond trading complex.
“Our relationship with Belgium has been built on trust, respect, and years of working together. Antwerp and Mumbai have grown alongside each other, supported by our diamond businesses, our artisans, and the many Indian families who made Antwerp their home. As the industry evolves, there is real opportunity for us to work even more closely in technology, new ideas, and smoother trade, strengthening the future of our diamond partnership.” Kirit Bhansali said.
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International News2 hours agoWGC Outlook 2026: Geopolitics, Growth Risks and Rate Shifts to Steer Gold’s Next Move
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National News1 hour agoGJEPC Conducts Intensive Training for Customs Officials in Kolkata to Strengthen Gem & Jewellery Appraisal
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