In a landmark event for the international diamond trade, Mehul Shah, who previously served as the Vice President of the Bharat Diamond Bourse, has been appointed as the new President of the World Federation of Diamond Bourses (WFDB). This global organization represents 26 diamond bourses and includes 6 associate members. The election proceedings unfolded on Monday, July 12, amidst the ongoing World Diamond Congress held in Singapore.

This election signifies a major advancement for India's diamond sector, positioning the nation to assume a more prominent and influential role in guiding the global diamond industry forward.

New Leadership at the World Federation of Diamond Bourses

During the World Diamond Congress in Singapore, leaders representing 21 global diamond bourses cast their votes to select the next group of officeholders. Mehul Shah emerged victorious, securing the presidency in the initial round with a substantial majority against two other candidates. Alongside Shah, Luigi Cosma, President of Borsa Diamanti d’Italia, and Philippe Barsamian from Antwerp were appointed as Vice Presidents of the WFDB. Both Vice Presidents expressed their full backing for Shah’s vision for the federation, signaling a united front for future initiatives. This outcome is not only a personal triumph for Shah but also a significant milestone for the Indian diamond industry, opening doors for the country to play an essential role in shaping the global diamond trade.

Upon his election, Shah expressed his deep gratitude to the delegates and presidents of the international diamond bourses, emphasizing that his victory represented a success for India. He humbly acknowledged his appointment and conveyed his pride in representing India through the Bharat Diamond Bourse and The Gem & Jewellery Export Promotion Council on such a prestigious international platform. Shah also extended his sincere appreciation to BDB President Anoop Mehta and GJEPC Vice Chairman Saunak Parikh for their invaluable guidance and unwavering support during his time in Singapore. With 46 years of dedication to the natural diamond industry, Shah assured members of his commitment to his new role. He articulated confidence that the deliberations at the Singapore Congress would yield constructive results, particularly in navigating the challenges of the global market. The newly formed leadership team at WFDB is fully dedicated to advancing the vision established during the Congress and to forging a more robust future for the entire industry.

A Vision for the Future of the Diamond Industry

Mehul Shah's election as President of the WFDB marks a significant turning point, especially for India's role in the global diamond trade. His extensive experience, spanning over four decades in the natural diamond industry, positions him as a credible and influential leader. The unanimous support he received from the global diamond bourses underscores a collective desire for strong leadership capable of steering the industry through its current challenges and towards future growth. This new chapter not only highlights Shah's personal achievements but also elevates the standing of the Indian diamond sector, enabling it to contribute more substantially to international policy-making and sustainable practices within the industry.

Shah's acceptance speech resonated with themes of humility, pride, and a forward-looking vision. He acknowledged the collective effort that led to his election and reiterated his commitment to fulfilling the responsibilities of his new office. With the backing of key figures like Anoop Mehta and Saunak Parikh, Shah is poised to implement strategic initiatives that will strengthen the WFDB and benefit its member bourses. The ongoing World Diamond Congress provides a crucial platform for discussing the industry's future, and Shah is confident that these discussions will lead to actionable outcomes. His leadership promises a renewed focus on unity, collaboration, and innovation, ensuring that the global diamond industry remains resilient and prosperous in an ever-evolving market landscape. The commitment of the new leadership team is clear: to build a stronger and more sustainable future for the diamond trade worldwide.