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Global Thought Leaders Converge at BDB Leadership Series to Shape the Future of the Gem & Jewellery Industry

Three-day event features global experts, cutting-edge research, and high-level discussions on innovation, market trends, and the future of diamonds—both natural and lab-grown.

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The second edition of the Bharat Diamond Bourse (BDB) Leadership Series, themed “Polishing Our Future”, concluded successfully, drawing international experts and industry pioneers for three days of high-impact dialogue, research, and strategic insights into the evolving gem and jewellery landscape.

Hosted at the Bharat Diamond Bourse, the event kicked off with the Advances in Gem & Diamond Research & Technology (AGDRT) annual meet, led by the Gemmological Institute of India (GII). Over the first two days, research papers were presented on cutting-edge developments in gemology and diamond technology.

High-Profile Speakers & Global Collaboration

The final day featured the much-anticipated BDB Leadership Series. The event was inaugurated by H.E. Mr. Frank Geerkens, Consul General of Belgium in Mumbai, with a traditional lamp-lighting ceremony.

In his keynote, Anoop Mehta, President of BDB, addressed critical industry issues such as the recent US tariffs on Indian gems, global economic uncertainties, and the importance of engaging more deeply with ASEAN and Far East markets.

Industry Innovations and Market Trends

Tom Moses, Executive Vice President of GIA, delivered a virtual keynote on diamond origin and provenance technologies, also addressing participant queries related to certification and grading.

Liang Weizhang, Founder of Hubwis Strategic Creations, China, provided an in-depth look at the China and Hong Kong markets, outlining current shifts and long-term projections.

A powerful panel discussion on consumer trends in India and the Middle East featured:

  • Pratap Kamath, MD, Abaran Timeless Jewellery
  • KP Abdul Salaam, Vice Chairman, Malabar Group
  • Siddharthaa Sawansukha, MD, Sawansukha Jewellers

All panelists agreed on strong growth momentum in both regions, particularly within the premium and bridal jewellery segments.

Fireside Chat & First-of-Its-Kind LGD-Natural Dialogue

A highlight of the day was an inspiring fireside chat between:

  • Pranay Narvekar, Partner, Pharos Beam Consulting LLP
  • Mithun Sacheti, Co-founder & Former CEO, CaratLane

Sacheti shared the inside story of CaratLane’s journey, detailing key decisions, challenges, and learnings that shaped the brand’s success.

A first-of-its-kind panel brought together voices from both the natural and lab-grown diamond sectors, moderated by consultant Nirupa Bhat. Speakers included:

  • Smit Patel, Director, Greenlab LGD Diamonds
  • Olivia Landau, Founder & CEO, The Clearcut (USA)
  • Ashish Pethe, Partner, Waman Hari Pethe Jewellers

The discussion offered nuanced insights into consumer behavior, product positioning, and the future co-existence of both diamond categories.

Commitment to Industry Knowledge and Growth

Mehul Shah, Vice President of BDB, praised the event, stating: “This was one of the most educational and insightful industry gatherings in recent memory. The BDB Leadership Series continues to expand its scope and relevance, and we are committed to facilitating global dialogue that shapes the future of our industry.”

The event concluded with a vote of thanks by Jay Parikh, BDB Committee Member. With participation from experts across Russia, China, the U.S., and India, the event stood out for fostering international collaboration and driving conversations around innovation and industry consolidation.

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National News

NPCI Defers Rollout Of UPI Merchant Discount Rate Until After Diwali

Given Typical Retail Margins Of 2%–6% On Bullion and Plain Gold Jewellery, Absorbing A 0.4% Fee—Or Up To ₹300 Per Large Transaction—Would Have Directly Eaten Into Festive Profitability. The Deferral Keeps Bottom Lines Protected Through Dhanteras and Diwali.

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The National Payments Corporation of India’s (NPCI) UPI and Services Steering Committee has deferred the implementation of Merchant Discount Rates (MDR) on select person-to-merchant (P2M) UPI transactions until immediately after Diwali.

The move aims to protect consumer sentiment and keep operational costs steady for businesses during the peak festive shopping season. A specific implementation date will be announced separately.

Key Highlights

  • Festive Relief for Retail: The deferment ensures merchants face no additional payment processing costs during peak festive demand, helping avoid disruptions to consumer spending.
  • The Approved MDR Structure:
    • Applies only to eligible P2M transactions above Rs 2,000 at a rate of 0.4%.
    • Capped at Rs 300 for high-value transactions of Rs 75,000 and above.
    • Everyday low-value payments and small merchants remain fully exempt, preserving zero-cost digital transactions for general consumers.
  • Timeline Adjustment: Originally notified on September 15 for an October 15 rollout, the framework will now take effect post-Diwali, giving banks, payment aggregators, and merchants additional runway to align their systems and communicate terms clearly.

Jewellery purchase values routinely exceed the Rs 2,000 threshold and frequently touch or surpass the Rs 75,000 cap. Given typical retail margins of 2%–6% on bullion and plain gold jewellery, absorbing a 0.4% fee—or up to Rs 300 per large transaction—would have directly eaten into festive profitability. The deferral keeps bottom lines protected through Dhanteras and Diwali.

Introducing transaction fees just as footfall surges would have forced retailers to decide whether to absorb the cost or pass it on to buyers (via checkout surcharges or selective discounts). Avoiding this choice prevents awkward billing counter negotiations and cart abandonment during rush hours.

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