Mumbai: India’s Gem & Jewellery Export Promotion Council (GJEPC) hosted Dr. Subrahmanyam Jaishankar, the External Affairs Minister, Govt. of India at its head office on Sunday 27th October. Dr. Jaishankar was visiting Bharat Diamond Bourse (BDB) in Mumbai for an interaction on India’s foreign policy at an event titled “Indian Foreign Policy: A Transformational Decade”, which aimed to explore the evolving international dynamics and their implications for India’s gem and jewellery industry.
Industry leaders such as Mr. Vipul Shah, Chairman, Mr. Kirit Bhansali, Vice Chairman, GJEPC; Mr. Anoop Mehta, President, BDB; and Mr. Mehul Shah, Vice President, BDB, addressed pressing concerns, including the shrinking American market, fluctuating global demand, and intensifying competition. Members highlighted the need for diversification and increased government support to stabilize and grow exports.
Mr. 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. 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. The Minister 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.
Dr. Jaishankar informed that the Indian Government is seized with the fact of falling exports from India. He noted the government’s commitment to formulating a strategic policy framework to shift the narrative in favour of India in some very difficult times for the world economy.
