Key Highlights
- WFDB President Mehul Shah addressed CIBJO’s centenary celebration at VicenzaOro in Italy.
- He endorsed CIBJO’s adoption of the term “Synthetic Diamonds” for laboratory-created diamonds.
- WFDB has also passed a resolution supporting the terminology.
- Shah said synthetic and natural diamonds serve different consumer segments.
- He described synthetic diamonds as “an entry point to the purchase of natural diamonds.”
- He called for stronger collaboration among global diamond trade bodies.
- WFDB reaffirmed its support for CIBJO’s future initiatives.
The World Federation of Diamond Bourses (WFDB) President Mehul Shah addressed CIBJO’s centenary celebration during the ongoing VicenzaOro jewellery exhibition in Vicenza, Italy, marking the organisation’s 100-year milestone while highlighting the importance of transparency and collaboration across the global diamond industry.
Opening his address, Shah congratulated Dr. Gaetano Cavalieri, President of CIBJO, on the centenary celebrations and acknowledged the organisation’s contributions over the past century, particularly through its internationally recognised Blue Book and retailer guidelines that have helped shape industry standards.
A key focus of Shah’s address was CIBJO’s adoption of the terminology “Synthetic Diamonds” for laboratory-created diamonds, a move that has also received formal support from the WFDB through its own resolution.
Speaking on the terminology change, Mehul Shah said:
“This is a milestone step towards greater clarity and transparency in our industry.”
Addressing the broader discussion around synthetic and natural diamonds, Shah said the two should not be viewed as competing commodities because they serve different consumer segments. He observed that synthetic diamonds are currently being purchased largely by consumers who cannot yet afford natural diamond jewellery, adding that as purchasing power increases, many of these consumers may eventually transition towards natural diamond purchases.
He further argued that synthetic diamonds should be viewed alongside other diamond alternatives such as moissanite and crystals, rather than being considered a direct replacement for natural diamonds.
Mehul Shah said:
“Synthetic Diamonds are an entry point to the purchase of natural diamonds.”
Beyond terminology, Shah emphasised the growing importance of cooperation among international trade organisations as the industry navigates changing market dynamics and consumer expectations.
Mehul Shah said:
“It is now more important than ever that global trade bodies come together and work collectively for the betterment of the diamond, gem and jewellery industry. Every organisation brings its own expertise, and when we combine our strengths, we become a powerful force for progress.”
During his address, Shah also praised CIBJO’s recognition by the United Nations Economic and Social Council (ECOSOC) in 2006 as a technical expert and advisor, describing it as a proud achievement that reflects the industry’s global credibility and influence.
Concluding his remarks, he reaffirmed WFDB’s commitment to strengthening its partnership with CIBJO and supporting the industry’s collective future.
Mehul Shah said:
“WFDB, Bharat Diamond Bourse and the global diamond industry, would like to assure CIBJO of our complete support and cooperation. We look forward to building a stronger collaboration and working together towards a promising future.”
The address reinforced a broader industry message emerging from VicenzaOro—that collaboration, transparency and consistent global standards will play an increasingly important role in shaping the future of the diamond, gem and jewellery sector.
Related Coverage
GJEPC Holds 60th AGM, Reviews FY2025-26 Performance and Industry Priorities
De Beers’ 2025 Sustainability Report Signals Where the Natural Diamond Industry Is Heading
Mehul Shah Unveils Eight-Point Roadmap to Strengthen the Global Natural Diamond Industry at JGW Hong Kong 2026
GJC Calls 67% Hike in Gold Hallmarking Charges Unwarranted, Seeks Immediate Government Review
Kiran Gems Wins Seven Rank 1 Honours at 52nd IGJA, Secures 18th Highest Exporter Recognition
