Kirit Bhansali will become chair of the Gem & Jewellery Export Promotion Council (GJEPC), where he intends to advance his vision of transformative growth for India’s diamond industry.
Bhansali — who served as the trade body’s vice chairman from 2022 to 2024 and is a partner of diamond manufacturer Smital Gems — will serve a two-year term, the GJEPC said Tuesday. He succeeds Vipul Shah as chairman, who had been in office since 2020.
Meanwhile, the group has chosen Shaunak Parikh as its vice chairman. He will automatically become the next chairman at the end of Bhansali’s term. GJEPC announced new board members following the Committee of Administration (COA) 2024 election. The committee includes 22 members aside from the chair and vice chair — five regional chairpersons, 14 COA members and one government nominee director.
“We aim to sustain India’s global leadership, capitalize on domestic market potential, and advocate for favorable policies while continuing to support our artisans,” said Bhansali, who is also the chairman of the India Jewellery Park Mumbai (IJPM) and a committee member of the Bharat Diamond Bourse (BDB). “To boost exports from the sector and support India’s economic growth, GJEPC has identified 17 key clusters based on their size, potential, and strategic location. By nurturing these clusters, we aim to develop them into thriving export hubs.”
Parikh, a third-generation entrepreneur with 30 years of industry experience, is also one of the directors of Mahendra Brothers Group of Companies, a manufacturer and marketer of diamonds and diamond jewelry. He has previously held several positions in GJEPC, including as the convener of the Banking, Insurance, and Taxation Committee and the convener of international exhibitions.
“This is a crucial time for the industry, and the challenges before us demand bold vision and decisive action,” Parikh said. “It is imperative to focus on category promotion across all verticals, infrastructure development, skill enhancement, and adopting global standards to ensure our industry remains competitive on the world stage. The council will continue to collaborate closely with the government to shape policies that not only drive growth but also address the pressing concerns of our exporters in an ever-evolving global market.”
Image: Kirit Bhansali. (GJEPC)
