In an open letter to trade members, Anoop Mehta, president of BDB, and Vipul Shah, chairman of GJEPC, expressed optimism about the industry's trajectory, citing improved alignment between supply and demand.
The leaders pointed to reduced polished diamond inventories and a cutback in rough diamond production as key factors driving the recovery. "After a challenging 18 months, the industry is at a critical turning point," they said, noting that manufacturers have scaled back production and borrowing, while prices in certain diamond segments have begun to rise.
August sales have been described as "robust," further fueling confidence, although official figures are yet to be released by the GJEPC. The letter urged industry members to seize the opportunity presented by these positive indicators and work collectively to bolster the value of natural diamonds.
“Now is the time to reinforce confidence in our beautiful and valuable natural diamonds,” the letter stated. "Let us move forward with positivity and work together for a prosperous future for the diamond industry."
