Mr. Pritesh Patel, Group President and Chief Executive Officer of the Gemological Institute of America (GIA), visited the Gem & Jewellery Export Promotion Council (GJEPC) Head Office in Mumbai on 16 December for an in-depth interaction with industry leadership. The discussions focused on current market challenges and the evolving role of certification within the global diamond trade.
Mr. Patel was accompanied by Mr. Amit Prathihari, Managing Director, GIA India Laboratory Pvt. Ltd.
He was welcomed by senior representatives of GJEPC, including Mr. Russell Mehta, Co-Convener, Diamond Panel, GJEPC; Mr. Ashish Mehta, Co-opted Member, Diamond Panel, GJEPC; Mr. Sabyasachi Ray, Executive Director, GJEPC; and Ms. Dolly Choudhary, Director, PMBD, GJEPC.
The interaction centred on diamond pricing dynamics, particularly in smaller sizes, and the resulting pressure on certification economics. GJEPC members expressed concerns that high certification costs could lead to an increase in uncertified parcel trade, potentially impacting transparency and consumer trust.
Addressing these concerns, Mr. Patel acknowledged the challenges faced by the trade and outlined GIA’s ongoing initiatives in automation, technology investments, and process optimisation aimed at improving operational efficiency while maintaining global standards.
Both sides emphasised that affordable and widely adopted certification remains critical for safeguarding transparency, strengthening consumer confidence, and ensuring the long-term sustainability of the natural diamond industry.
