Anoop Mehta, Co-Convener of GJEPC’s Diamond Panel Committee, addressed the International Diamond Manufacturers Association’s (IDMA) 23rd Presidents’ Meeting, highlighting key industry concerns. GJEPC Executive Director Sabyasachi Ray was also present, reaffirming the council’s commitment to global partnerships.

Mehta warned that G7 sanctions on Russian diamonds, which have cut supply by 37%, threaten India’s diamond industry and global stability. He noted an 18% drop in India’s rough diamond imports over two years, with polished exports falling 40.18% to USD 13.79 billion. Rising traceability costs further strain small workshops.

Despite challenges, Mehta urged against protectionism and called for deeper collaboration through platforms like the Indo-US Trade Policy Forum. “This is not a plea for exceptions but a call for collaboration,” he stated, advocating for joint efforts to address disruptions.