Mr. Kirit Bhansali, Chairman of GJEPC, headed a delegation to Surat on April 24 for an important meeting with industry stakeholders in the gem and jewellery sector to address urgent matters, including the recent tariffs imposed by the US, and to outline a path for future development.
The delegation, which featured Mr. Saunak Parikh, Vice Chairman of GJEPC, and Mr. Sabyasachi Ray, Executive Director of GJEPC, interacted with prominent industry leaders such as Mr. Govindbhai Dholakia, Hon’ble MP of Rajya Sabha and Chairman of the Surat Diamond Bourse (SDB), as well as Mr. Laljibhai Patel, Mr. Nagjibhai Sakariya, and Mr. Shri Vallabh Lakhani. Presidents from significant associations like the Surat Diamond Association, Lab Grown Diamond Association, and Surat Jewellery Manufacturers Association also shared valuable insights on prevailing trends.
A key topic of the gathering was the potential effects of the recent US tariffs on the sector. Mr. Ray delivered an in-depth presentation regarding this issue. Additionally, Mr. Jayanti Savaliya, Regional Chairman of Gujarat at GJEPC, reassured participants that advancements have been made in resolving Customs-related challenges.
Mr. Bhansali emphasized Surat’s crucial role in the worldwide gem and jewellery supply chain. “Surat is not merely a city of diamonds; it is the honor of our industry,” Bhansali remarked, highlighting the city’s significance to GJEPC and its contribution to gaining international recognition and prosperity.
In a spirit of collaboration, Mr. Dholakia praised GJEPC for fostering mutual trust and enhancing relationships between the industry and policymakers.
Looking ahead to future possibilities, Mr. Parikh highlighted the need to encourage direct rough diamond trade from Surat. He proposed that the current US tariff scenario might offer India a chance to boost its presence in the global market. Parikh also pointed to silver jewellery as a major area for future growth, referring to it as “the next big thing.”
The meeting ended on a hopeful and unified note, reaffirming the commitment to ensure the continuous growth and leadership of the Indian gem and jewellery sector, with Surat remaining a key hub.