In an open letter to trade members, Anoop Mehta, president of the Bombay Diamond Bourse (BDB), and Vipul Shah, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), expressed optimism about the diamond industry’s future. They highlighted a better balance between supply and demand as a positive sign.
The leaders noted that reduced inventories of polished diamonds and a decrease in rough diamond production have been crucial for the industry’s recovery. They described the current period as a pivotal moment, following a difficult 18 months. Manufacturers have cut back on production and borrowing, and prices for some diamonds have started to rise.
August sales have been strong, boosting confidence in the market, although the GJEPC has not yet released official sales figures. The letter encouraged industry members to capitalize on these positive trends and work together to enhance the value of natural diamonds.
“Now is the time to reinforce confidence in our valuable natural diamonds,” the letter urged. “Let us move forward with optimism and collaborate for a successful future for the diamond industry.”
