The Indian Gemstone and Jewelery Export Promotion Council (GJEPC) has appointed a new chairman. Vipul Shah is expected to take office in September.
The GJEPC was established by the Government of India in 1966 and has been operating autonomously since 1998. The Council represents over 8,000 members and its main objective is to promote the Indian gemstone and jewelery industry in the international market in the sense of wide.
Shah previously served as GJEPC, initially leading the organization from 2012 to 2015. Shah is the former CEO of diamond manufacturing company Asian Star.
“I feel privileged and energized to resume the role of GJEPC President in these exciting times,” Shah said.
“We have huge growth opportunities ahead of us. Historic trade agreements signed with the UAE [CEPA] and australia [ECTA] have provided a competitive edge to gold jewelry exporters in the UAE.
“In diamonds, I think India needs to move up the value chain by focusing on bigger, high-value goods, and at the same time we will continue to support generic diamond promotions.”
Shah went on to suggest that silver jewelry would be another key focus for the GJEPC in the coming years, and highlighted the growing popularity of lab-created diamonds, which will soon reach $8 billion in annual exports from India.
Shah will be joined by Kirit Bhansali of Smital Gems, who will serve as vice chairman of GJEPC. He is expected to become president in September 2024.
“We have put the turbulent two years behind us, and as we emerge into the new post-pandemic era, the GJEPC, through its continued leadership, will help usher this industry into a new phase of growth, dynamism and prosperity,” he said. .
Bhansali is the current President of Indian Institute Of Gems & Jewelery (IIGJ) and India Jewelery Park Mumbai (IJPM).
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