Industry leaders such as Shri Vipul Shah, Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Anoop Mehta, President, Bharat Diamond Bourse, and Shri Mehul Shah, Vice President, Bharat Diamond Bourse, addressed the pressing concerns, including the shrinking American market, fluctuating global demand, and intensifying competition. Members also highlighted the need for diversification and increased government support to stabilise and grow exports.

Vipul Shah expressed gratitude to Dr. Jaishankar, stating, “We are grateful for your active support in mitigating the impacts of G7 sanctions on Russian diamonds, which has enabled our industry to continue operating with resilience and adaptability.”

Vipul Shah further added, “In these testing times, we look toward the Ministry of External Affairs for strategic support and urge your good offices and missions abroad to champion Indian gems and jewellery, ensuring that our exquisite craft finds a place in every corner of the globe. With your support, we can strengthen India’s global footprint, enhance our market access, and uplift the industry at this crucial juncture.”

Dr. Jaishankar emphasised the importance of industry-government collaboration, encouraging businesses to directly engage with international counterparts. He acknowledged the diamond industry’s technological advancements and reaffirmed the government’s commitment to driving export-oriented growth. He also highlighted about G7 sanctions on diamonds and its implications for the diamond and jewellery industry. He stated that Indian Govt is seized with the fact on falling exports from India and are discussing on having a strategic policy of shift the narrative in favour of India in some very difficult times for the world economy.

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