GJEPC took part in a high-level meeting led by the 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 addressed a range of important issues impacting the diamond and jewellery sector, such as the effects of recent US tariffs, the implementation of node and traceability measures in line with the forthcoming G7 sanctions on Russian diamonds, and De Beers’ intentions to hold auctions at Special Notified Zones (SNZs) in Surat and Mumbai. Discussions also included the company’s potential investment strategies in India, particularly within the retail sector.
Minister Goyal expressed his gratitude for De Beers’ plans to invest in India’s retail market and conveyed optimism about the ongoing discussions with the US concerning reciprocal tariffs. He also encouraged De Beers to assist India in becoming a potential hub if the G7 sanctions on Russian diamonds come into effect in January 2026. Additionally, the Minister suggested that De Beers equip all Indian retail jewellery outlets with detection machines to assist consumers in easily distinguishing between lab-grown diamonds (LGDs) and natural diamonds during their purchase.