Mr. Kirit Bhansali, Chairman, GJEPC, led a delegation to Surat on 24 April for a crucial industry interaction meet that brought together prominent stakeholders from the gem and jewellery sector to discuss pressing issues, including the recent US tariffs, and to chart a course for future growth.
The delegation, which included Mr. Saunak Parikh, Vice Chairman, GJEPC and Mr. Sabyasachi Ray, Executive Director, GJEPC, engaged with key industry figures like Mr. Govindbhai Dholakia, Hon’ble MP – Rajya Sabha & Chairman of the Surat Diamond Bourse (SDB), Mr. Laljibhai Patel, Mr. Nagjibhai Sakariya, Mr. Shri Vallabh Lakhani. Presidents of major associations like the Surat Diamond Association, Lab Grown Diamond Association, and Surat Jewellery Manufacturers Association also contributed insights on current trends.
A significant focus of the meeting was the potential impact of recent US tariffs on the industry. Mr. Ray provided a detailed presentation on the matter. Meanwhile, Mr. Jayanti Savaliya, Regional Chairman – Gujarat, GJEPC, reassured attendees that progress has been made in addressing Customs-related concerns.
Mr. Bhansali underscored Surat’s vital position in the global gem and jewellery supply chain. “Surat is not just a city of diamonds; it is the pride of our industry,” stated Bhansali, emphasising the city’s importance to GJEPC and its role in providing global recognition and prosperity.
Echoing the sentiment of collaboration, Mr. Dholakia lauded GJEPC’s efforts in building mutual trust and strengthening ties between the industry and policymakers.
Looking towards future opportunities, Mr. Parikh stressed the importance of promoting direct rough diamond trading from Surat. He suggested that the US tariff situation could present a strategic advantage for India to increase its global market share. Parikh also pointed towards silver jewellery as a significant area for future expansion, calling it “the next big thing”.
The meeting concluded on a note of optimism and unity, reinforcing the commitment to ensure the continued growth and leadership of the Indian gem & jewellery industry, with Surat remaining a central hub.