GJEPC made a strong statement on diamond sustainability and global collaboration at the 28th St. Petersburg International Economic Forum (SPIEF) held in Russia on 19 June. Representing India at the forum were Mr. Kirit Bhansali, Chairman, GJEPC; and Mr. Ajesh Mehta, Convener, Diamond Panel, GJEPC.<\/p>\n
The GJEPC delegation also met with Mr. Pavel Marinychev, CEO of ALROSA, to explore avenues for deeper cooperation between the Indian and Russian diamond sectors.<\/p>\n
Mr. Bhansali was a featured speaker at the roundtable titled ‘The Evolution of Conscious Consumption: Emerging Trends in the Global Diamond Market’, where industry leaders discussed carbon neutrality, ethical sourcing, and future market trends.<\/p>\n
In his address, Mr. Bhansali congratulated ALROSA for achieving a carbon neutrality certification from TUV AUSTRIA for its rough diamonds. \u201cThis is a big achievement. It demonstrates the company’s strong commitment to sustainability and environmental stewardship,\u201d he said.<\/p>\n
Highlighting India\u2019s growing role not just as a supplier but as a consumer of diamonds, he noted, \u201cIndia\u2019s diamond and jewellery consumption stands at $85 billion, with $8.5 billion from diamonds alone. By 2030, this figure is set to double to over $17 billion, making India a major diamond jewellery consuming market.\u201d<\/p>\n
He noted that global consumption patterns are shifting rapidly, driven by millennial and Gen Z consumers who expect transparency and accountability from the brands they support. \u201cPositioning natural diamonds as carbon-conscious luxury\u2014highlighting their environmental value and ability to capture carbon\u2014will help distinguish them from lab-grown alternatives and support category growth,\u201d he said.<\/p>\n
Mr. Bhansali pointed to the broader contributions of the natural diamond industry, stating, \u201cIndia\u2019s diamond sector supports over a million jobs, strengthens families, builds communities, and significantly contributes to our export economy. These social and economic benefits must be recognised as part of the industry\u2019s sustainability story.\u201d<\/p>\n
On the marketing front, he reinforced GJEPC\u2019s long-standing support for promoting natural diamonds. \u201cIndustry marketing funds should inform consumers about how diamonds are doing good\u2014not just economically, but environmentally too,\u201d he said.<\/p>\n
Mr. Bhansali concluded with a thought-provoking message: \u201cThe value of a diamond has always been defined by the 4 Cs\u2014Cut, Clarity, Colour, and Carat. But today, a fifth \u2018C\u2019 is rising: \u2018Carbon Neutral\u2019. Sustainability is fast becoming a new standard of value. Maybe it\u2019s time the world accepts \u2018Carbon Neutral\u2019 as the new C in diamonds.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
GJEPC made a strong statement on diamond sustainability and global collaboration at the 28th St. Petersburg International Economic Forum (SPIEF) held in Russia on 19 June. Representing India at the forum were Mr. Kirit Bhansali, Chairman, GJEPC; and Mr. Ajesh Mehta, Convener, Diamond Panel, GJEPC. The GJEPC delegation also met with Mr. Pavel Marinychev, CEO…<\/p>\n","protected":false},"author":1,"featured_media":32237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-32236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n