Speaking at the Natural Diamond Council (NDC) panel on Reshaping Value across the Natural Diamond Supply Chain – organized in collaboration with the Diamond Federation of Hong Kong (DFHK) during the Jewellery & Gem WORLD (JGW) Hong Kong Jewellery Show – World Federation of Diamond Bourses (WFDB) President Mehul Shah called for industry-wide unity, standardization, and proactive consumer protection.
Reaffirming the WFDB’s commitment to preserving the integrity, trust, and emotional resonance of natural diamonds, Mr. Shah outlined strategic initiatives to safeguard the industry for future generations.
Key directives from the address include:
1. Value Addition & Creative Branding:
The industry must move beyond selling diamonds as commodities to creating greater value through branding, innovation, jewellery design, craftsmanship, and storytelling. Mr. Shah urged trade members to “sell the art, not merely the paint, canvas, or brush,” emphasizing that jewellery must become an expression of emotion, artistry, and enduring desire.
2. Seamless Mine-to-Market (M2M) Transparency:
Mr. Shah emphasized that the three M’s, Mines, Manufacturers, and Markets, must work together as one integrated ecosystem. The journey from mine to market must be seamless, transparent, collaborative, and accountable, with blockchain, traceability, and robust tracking becoming essential to building trust across the supply chain.
3. Reclaiming the Industry Narrative through Strategic Alliances & Marketing:
Highlighting the powerful role of films and media in shaping consumer perception, Shah urged the industry to take greater ownership of the natural diamond narrative by investing seriously in consumer-level marketing. He called for the Natural Diamond Council to work more closely with trade bodies and local jewellers, alongside broader industry partnerships, to communicate the responsible, ethical, and beautiful story of natural diamonds directly to consumers.
4. Natural & Synthetic Diamonds as Separate Subjects:
Shah emphasized that natural and laboratory-grown diamonds should be viewed as distinct categories rather than simply competing products. He noted that “diamonds are forever” and “diamonds for everyone” can coexist, while suggesting that laboratory-grown diamonds can serve as a gateway to the broader diamond category, with consumers potentially moving towards natural diamonds as their purchasing power increases.
5. Rigorous Consumer Protection & Clear Declarations:
Shah stressed that protecting and educating consumers is a collective responsibility. He called for strict consumer-protection laws and clear declarations identifying diamond categories across invoices, certificates, branding, and marketing materials, including in local languages. He urged the global diamond industry and its trade bodies to speak with one voice to governments to establish and implement appropriate standards.
6. Unified Global Grading Standards:
Describing standardization of grading systems as one of the industry’s most important needs, Shah called on trade bodies, gemological laboratories, and governments to work together towards a standardized and regulated grading framework. Drawing a parallel with precious-metal purity standards, he argued that eliminating discrepancies between laboratory grading systems would reduce consumer confusion, strengthen confidence, and make diamond values more trusted.
7. A Global Mark of Authenticity for Natural Diamonds:
Shah proposed a globally registered mark of authenticity for natural diamonds, drawing an analogy with the Woolmark as a trusted symbol of genuine wool or Hallmark for Gold. Such a mark could provide consumers worldwide with an immediate indication of authenticity while reinforcing the distinct identity and credibility of natural diamonds.
8. The “Happy Pipeline” & A United Diamond Family:
Shah concluded by emphasizing the importance of a “Happy Pipeline,” describing the diamond industry as one interconnected family that includes everyone from those working in mines and diamond artisans to manufacturers, graders, retailers, and other participants across the value chain. Since diamonds ultimately represent happiness, he stressed that the industry must first ensure that everyone within the diamond family is able to share in that happiness.
Furthermore, Shah said
“The future lies in collaboration. It lies in authentic storytelling. It lies in technological innovation. It lies in consumer confidence. And above all, it lies in unified industry working together. Let us therefore work together to build a natural diamond industry that is trusted by consumer, empowered by technology, united in purposes and prepared for the generation to come. Thank you, and I wish DFHK and NDC every success in their continued efforts to strengthen the natural diamond industry globally”
Concluding his address, President Shah extended a warm invitation to members of the Hong Kong trade to attend the upcoming India International Jewellery Show (IIJS) in Mumbai.
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