The Indian Chamber of Commerce (ICC) hosted the Diamond Conclave 2.0, themed “India Shining for the Global Stage,” with GJEPC as co-partner. The conclave, held in Kolkata on 30th August, brought together industry leaders, policymakers, and trade experts to deliberate on the challenges and opportunities shaping the future of India’s gem and jewellery sector.
In his address, Sabyasachi Ray, Executive Director, GJEPC, underscored India’s commanding position in the global diamond value chain. He noted that India processes nearly 90% of the world’s diamonds, making it the undisputed leader in cutting, polishing, and trading. “India is not only the world’s trusted hub for diamonds but is also expanding its influence across the entire gem and jewellery value chain,” Ray stated.
He highlighted GJEPC’s initiatives to strengthen the sector’s competitiveness, including policy advocacy, global trade shows, mega common facility centres, skill development programmes, and the promotion of “Brand India” in key international markets.
Adding the government’s perspective, R. Arulanandan, Director, Department of Commerce, said: “India processes nearly 90% of the world’s rough diamonds by volume, employing over one million workers directly. However, the recent hike in U.S. tariffs to 50% threatens up to 200,000 jobs, particularly in Surat. India is actively engaging with global partners to mitigate these challenges.”
Other keynote speakers included Dr. V. Anantha Nageswaran, Chief Economic Adviser, Government of India; and Ms. Vandana Yadav, Principal Secretary, Government of West Bengal, alongside senior leaders from De Beers, Senco Gold, and other companies.
Discussions centred on sustaining India’s global leadership by addressing U.S. tariffs, ensuring ease of doing business, embracing sustainability, and driving technological innovation. The conclave also explored strategies for expanding domestic consumption, strengthening export markets, and building resilience against geopolitical and trade headwinds.
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