GJEPC participated in a high-level meeting chaired by Hon’ble Union Minister of Commerce & Industry, Shri Piyush Goyal, alongside Mr. Al Cook, CEO of De Beers Group in London on 28 April.
The meeting covered a wide spectrum of critical issues affecting the diamond and jewellery industry, including the impact of recent US tariffs, implementation of node and traceability measures aligned with upcoming G7 sanctions on Russian diamonds, and De Beers’ plans to conduct auctions at Special Notified Zones (SNZs) in Surat and Mumbai. The company’s prospective investment plans in India, particularly in the retail segment, were also discussed.
Minister Goyal expressed appreciation for De Beers’ intent to invest in India’s retail sector and conveyed confidence in a positive outcome in ongoing negotiations with the US regarding reciprocal tariffs. He also urged De Beers to support India as a potential node in the event that G7 sanctions on Russian diamonds are implemented from January 2026. Furthermore, the Minister proposed that De Beers install detection machines in all Indian retail jewellery stores to help consumers clearly distinguish between lab-grown diamonds (LGDs) and natural diamonds at the point of purchase.