India has further cemented its position at the centre of the global diamond industry with the election of Mehul N. Shah as President of the World Federation of Diamond Bourses (WFDB). Elected during the 41st World Diamond Congress in Singapore, Shah succeeds outgoing President Yoram Dvash and becomes one of the few Indian diamantaires to lead the apex international organisation representing diamond bourses across the world.
His appointment comes at a defining moment for the natural diamond industry, which continues to navigate evolving consumer preferences, changing supply dynamics, geopolitical challenges and increased competition from laboratory-grown diamonds.
With more than four decades in the diamond business, Shah brings extensive experience across manufacturing, exports and international trade. He is Chairman of Mumbai-based Star Brillian Group, Vice President of the Bharat Diamond Bourse (BDB), and previously served as Treasurer-General of the WFDB for nearly a decade.
Over the years, Shah has played an active role in strengthening cooperation between global diamond trading centres while advocating ethical business practices and greater transparency across the industry. His election reflects both his longstanding contribution to the international diamond trade and India's growing influence in global industry governance.
Industry leaders have welcomed Shah's appointment as an important milestone for the Indian gem and jewellery sector. The election is widely viewed as recognition of India's pivotal role in the global diamond value chain, with the country remaining the world's largest centre for diamond cutting and polishing.
Trade bodies have also expressed confidence that Indian leadership within the WFDB will further strengthen collaboration between producing nations, manufacturers, traders and retailers during a period of significant industry transition.
The Gem & Jewellery Export Promotion Council (GJEPC) described Shah's election as "a proud moment for India's diamond industry," noting that it reflects India's growing influence in global diamond governance and acknowledges Shah's longstanding commitment to strengthening the international diamond trade.
Shah assumes office as the global diamond trade continues to adapt to rapidly changing market conditions. Demand recovery in several international markets remains gradual, while technological advances, evolving consumer expectations and sustainability considerations continue to reshape the industry.
Against this backdrop, the WFDB is expected to play an increasingly important role in promoting ethical trading standards, strengthening consumer confidence and supporting initiatives that reinforce the value proposition of natural diamonds.
Industry observers expect Shah's administration to focus on enhancing cooperation among member bourses, improving engagement across the supply chain and ensuring that the federation remains a unified global voice for the natural diamond sector.
Founded in 1947, the World Federation of Diamond Bourses represents diamond exchanges from major trading centres across the globe and works to uphold international trading standards, arbitration mechanisms and ethical business conduct.
As President, Shah assumes responsibility for guiding the organisation through one of the most significant periods of change in the industry's modern history. His extensive governance experience and deep understanding of the global diamond ecosystem are expected to provide continuity while addressing the opportunities and challenges facing the trade.
For India, Shah's election is more than a personal achievement. It reflects the country's continuing prominence in shaping the future direction of the international diamond industry and reinforces its position as a trusted leader within the global trade.