India’s apex body for gem and jewellery trade, the Gem and Jewellery Export Promotion Council (GJEPC), has announced that Vipul Shah has taken charge as Chairman for the tenure of September 2022-September 2024. Kirit Bhansali of Smital Gems has been elected as the new Vice Chairman of GJEPC. The news comes post the announcement of the election results of the new GJEPC board members for the said tenure.
Talking about his vision for the Indian gem & jewellery industry, Shah said, “The Indian gem and jewellery industry is at the start of yet another growth phase and is set to achieve the government’s export target for our sector, of US$ 45.7 billion in FY 2022-23. There are tremendous opportunities for growth ahead of us. The landmark trade agreements signed with the UAE (CEPA) and Australia (ECTA) have provided competitive edge to the plain gold jewellery exporters in the UAE. In addition, the forthcoming DESH Act will give a boost to the SEZ ecosystem and drive up export numbers. I take this opportunity to thank the government for continued support to the industry through a series of trade friendly measures.”
Shah was the chairman of GJEPC for the tenure 2012-2015 as well. He was instrumental in organising GJEPC’s first World Diamond Conference. At the Council level, he implemented the policy to have members on a rotation policy so that new people come on board to bring in a fresh perspective and new energy levels. Shah’s vision as the newly-appointed Chairman of the Council is to “make India a hub for not just trading of diamonds and gold, but a fountainhead of design as well.”