{"id":11636,"date":"2025-06-21T12:11:42","date_gmt":"2025-06-21T12:11:42","guid":{"rendered":"https:\/\/jewellerynewsindia.com\/?p=11636"},"modified":"2025-06-21T12:13:10","modified_gmt":"2025-06-21T12:13:10","slug":"gjepc-advocates-diamond-sustainability-at-russias-st-petersburg-economic-forum","status":"publish","type":"post","link":"https:\/\/jewellerynewsindia.com\/index.php\/2025\/06\/21\/gjepc-advocates-diamond-sustainability-at-russias-st-petersburg-economic-forum\/","title":{"rendered":"GJEPC Advocates Diamond Sustainability at Russia\u2019s St. Petersburg Economic Forum"},"content":{"rendered":"\n
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At the 28th St. Petersburg International Economic Forum (SPIEF)<\/a> held on June 19 in Russia, the Gem & Jewellery Export Promotion Council (GJEPC)<\/a> strongly emphasized the importance of sustainability and international collaboration in the diamond industry. Representing India at the event were GJEPC Chairman Mr. Kirit Bhansali<\/a> and Diamond Panel Convener Mr. Ajesh Mehta.<\/p>\n\n\n\n

The GJEPC<\/a> team held discussions with Mr. Pavel Marinychev, CEO of ALROSA<\/a>, to explore stronger ties and cooperation between the Indian and Russian diamond sectors.<\/p>\n\n\n\n

Mr. Bhansali<\/a> participated in a key roundtable titled “The Evolution of Conscious Consumption: Emerging Trends in the Global Diamond Market,”<\/em> where discussions focused on ethical sourcing, carbon neutrality, and future industry trends.<\/p>\n\n\n\n

Commending ALROSA<\/a> on achieving carbon neutrality certification for its rough diamonds from TUV AUSTRIA, Mr. Bhansali noted, \u201cThis milestone reflects a commendable commitment to sustainability and environmental responsibility.\u201d<\/p>\n\n\n\n

He spotlighted India’s dual role as a diamond manufacturing hub and a growing consumer market, stating, \u201cIndia\u2019s diamond and jewellery consumption currently totals $85 billion, with $8.5 billion attributed to diamonds alone. This is projected to rise to over $17 billion by 2030, positioning India as a key diamond jewellery consumer.\u201d<\/p>\n\n\n\n

Mr. Bhansali<\/a> highlighted changing consumer behavior, especially among millennials and Gen Z, who demand greater transparency and accountability. \u201cFraming natural diamonds as carbon-conscious luxury\u2014emphasizing their ability to capture carbon\u2014will help set them apart from lab-grown alternatives and boost demand,\u201d he said.<\/p>\n\n\n\n

He further emphasized the social and economic impact of the diamond industry in India, which supports over a million jobs and contributes significantly to exports. \u201cThese positive outcomes are an integral part of the sustainability narrative,\u201d he added.<\/p>\n\n\n\n

On marketing, Mr. Bhansali underscored GJEPC<\/a>\u2019s ongoing commitment to promoting natural diamonds. \u201cIndustry campaigns must communicate the positive environmental and social contributions of diamonds,\u201d he urged.<\/p>\n\n\n\n

Concluding his remarks, Mr. Bhansali<\/a> proposed a new perspective: \u201cTraditionally, a diamond\u2019s value has been defined by the 4 Cs\u2014Cut, Clarity, Colour, and Carat. But now, a fifth C is emerging: \u2018Carbon Neutral\u2019. Sustainability is becoming a vital benchmark of value. Perhaps it\u2019s time the world embraces \u2018Carbon Neutral\u2019 as the new C in diamonds.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

At the 28th St. Petersburg International Economic Forum (SPIEF) held on June 19 in Russia, the Gem & Jewellery Export Promotion Council (GJEPC) strongly emphasized the importance of sustainability and international collaboration in the diamond industry. Representing India at the event were GJEPC Chairman Mr. Kirit Bhansali and Diamond Panel Convener Mr. Ajesh Mehta. The […]<\/p>\n","protected":false},"author":1,"featured_media":11637,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nGJEPC Advocates Diamond Sustainability at Russia\u2019s St. Petersburg Economic Forum - JNI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jewellerynewsindia.com\/index.php\/2025\/06\/21\/gjepc-advocates-diamond-sustainability-at-russias-st-petersburg-economic-forum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GJEPC Advocates Diamond Sustainability at Russia\u2019s St. Petersburg Economic Forum - JNI\" \/>\n<meta property=\"og:description\" content=\"At the 28th St. Petersburg International Economic Forum (SPIEF) held on June 19 in Russia, the Gem & Jewellery Export Promotion Council (GJEPC) strongly emphasized the importance of sustainability and international collaboration in the diamond industry. 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href=\"https:\/\/jewellerynewsindia.com\/index.php\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","rttpg_excerpt":"At the 28th St. Petersburg International Economic Forum (SPIEF) held on June 19 in Russia, the Gem & Jewellery Export Promotion Council (GJEPC) strongly emphasized the importance of sustainability and international collaboration in the diamond industry. Representing India at the event were GJEPC Chairman Mr. Kirit Bhansali and Diamond Panel Convener Mr. Ajesh Mehta. 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