The Hon’ble Lefoko Maxwell Moagi, Minister of Minerals & Energy, Republic of Botswana; Al Cook, CEO of De Beers Group; and Bruce Cleaver, Co-Chairman of De Beers Group met with the leadership of the GJEPC and the Bharat Diamond Bourse (BDB) in Mumbai on April 18, 2023, giving the global diamond industry a boost.
The group met with representatives of the Indian diamond sector to discuss ways to collaborate and grow together. Feriel Zerouki, Senior Vice President, Corporate Affairs at De Beers Group and Vice President of the World Diamond Council, was also present.
The delegates were greeted by a group of dignitaries that included Sabyasachi Ray, Executive Director of the GJEPC, Vipul Shah, Chairman of the GJEPC, Anoop Mehta, President of the BDB, Kirit Bhansali, Vice Chairman of the GJEPC, Mehul Shah, Vice President of the BDB, Ajesh Mehta, Convener, Diamond Panel, GJEPC, and several other well-known people.
The relationship with De Beers has been crucial to the development of the Indian sector, which presently processes 14 out of every 15 diamonds used in jewellery around the world. The Bharat Diamond Bourse, Surat Diamond Bourse, and jewellery manufacturers in SEEPZ are only a few examples of the advanced factories and diamond processing infrastructure that India has built with billions of dollars invested. In addition, the nation has opened up the diamond industry by offering diamonds weighing less than 200 parts per million 52 facets, making them more accessible to the millions of people who want to acquire one.
The De Beers delegation’s visit gave the Indian diamond sector a chance to talk with the mining giant about general diamond and diamond jewellery promotion. For the past few years, GJEPC has been collaborating closely with the Natural Diamond Council (NDC) to promote diamonds and diamond jewellery in China, India, and the United States.
The event’s chairman, Vipul Shah of the GJEPC, said, “I would ask De Beers to increase the donation for general promotion of diamonds and diamond jewellery in this difficult geopolitical environment till things return to normal. We anticipate an insightful conversation about the future of the diamond business. I’m hoping that our trip ushers in a new age of cooperation and achievement for our sector.
Anoop Mehta, president of the BDB, stated, “From the perspective of diamonds, one of the things that we wanted to achieve is that most governments all over the globe look at diamonds not only through a loupe but also through a microscope. Additionally, the legislative bodies and the Indian government would follow suit. We have, however, been able to slightly alter that perception during the past ten years. We were chosen by the government to host the G20 delegates around a month ago to highlight the sector’s accomplishments.
The visit by De Beers and the Minister of Minerals and Energy of Botswana is an important development for the world’s diamond industry. Given India‘s expertise in the processing of diamonds and De Beers‘ status as one of the biggest producers worldwide, the partnership is expected to benefit the sector.