Key Highlights
- Mehul Shah becomes the first Indian President of the World Federation of Diamond Bourses (WFDB).
- Consumer confidence in natural diamonds will be the top priority under the new leadership.
- WFDB will focus on greater transparency, traceability and industry-wide collaboration.
- The federation plans to expand its membership to at least 50 full and affiliate members.
- Greater participation of young diamantaires will be encouraged to shape the industry’s future.
- India’s leadership role in the global natural diamond industry receives significant international recognition.
Fresh from being elected as the first Indian President of the World Federation of Diamond Bourses (WFDB), Mehul Shah has outlined an ambitious roadmap aimed at strengthening consumer confidence in natural diamonds, improving transparency across the global supply chain, and expanding the federation’s international reach.
Rather than viewing his appointment as a personal milestone, Shah described it as recognition of India’s growing leadership in the global diamond industry and an opportunity to unite diamond-producing, manufacturing and trading centres under a shared vision for sustainable growth.
Addressing the industry’s priorities following the recent Singapore Diamond Congress, Shah emphasised that the federation’s immediate focus would be implementing the global strategy developed during the three-day congress while working closely with trade organisations worldwide.
“We will focus on implementing the shared global vision that emerged at the recent Singapore Diamond Congress after three days of insightful deliberations and strategic dialogue,” Shah said.
He added that the WFDB would also strive for industry-wide collaboration to achieve this aim, working closely with other global and country-specific trade organisations on greater transparency, traceability and other measures to build consumer confidence.
Historic Milestone for India
Shah’s election marks a significant moment for the Indian diamond industry, making him the first Indian to head the World Federation of Diamond Bourses, the apex global organisation representing 28 diamond bourses and six affiliate members, including mining companies, diamond exchanges and other industry organisations.
Established in 1947 in Antwerp, the WFDB works to address challenges facing the global diamond trade, promote industry growth, organise international programmes and encourage collaboration among member bourses.
India’s Growing Global Leadership
Reflecting on his appointment, Shah highlighted India’s expanding influence within the international diamond industry.
“I am humbled by this appointment, but believe it is a timely recognition of the key role that India plays in the diamond industry.”
He specifically acknowledged the support of Anoop Mehta, President, Bharat Diamond Bourse, and Shaunak Parikh, Vice-Chairman, GJEPC, in his elevation to the post.
“It is appropriate that the largest manufacturing centre of the industry has come forward to shoulder leadership responsibilities, and remain at the forefront in evolving the perspectives and action plans needed for the next phase of development,” he stated.
Guided by ‘Vasudev Kutumbkam’
Shah said the federation’s future direction would be guided by the Indian philosophy of global cooperation.
“We will be guided by the Indian philosophy of Vasudev Kutumbkam and encourage mutually beneficial interaction with all other centres across the pipeline.”
He also outlined plans to work closely with stakeholders across the entire diamond value chain to promote natural diamonds, increase their desirability, strengthen consumer confidence and integrate storytelling with emerging technologies to better connect with consumers.
Expanding the Global Federation
Another priority for the new leadership will be expanding the federation’s membership from its current network to at least 50 full and affiliate members.
The expansion process has already begun with the induction of Qatar Diamond Exchange QFZ LLC, while Israel Diamond Exchange and New Israel Club for Commerce have rejoined the organisation. Earlier, the Republic of Angola and the Republic of Botswana were welcomed as Nation Affiliate Members.
Shah said the federation would continue supporting every member bourse while encouraging stronger cooperation across the global diamond pipeline.
“WFDB will work together to ensure that every member bourse enjoys the support of the entire chain to help them overcome any challenges they may face so all can contribute collectively to the common benefit,” Shah said.
Investing in the Next Generation
Shah also stressed the importance of encouraging younger diamantaires to participate in the federation’s activities and leadership.
“We will also aim to involve the next generation diamantaires in WFDB and expose them to the administrative and operational processes within the organisation. They will bring in fresh perspectives and help us define a brighter future for all.”
The new WFDB leadership team includes Luigi Cosma, President of Borsa Diamanti d’Italia, and Philippe Barsamian, Vice President of the Diamant Club van Antwerp, as Vice Presidents; Rony Unterman as Secretary General; and Molefi Letsiki, President of the Diamond Dealers of South Africa, as Treasurer General.
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