The discussions centred on potential collaborations to enhance the diamond industries of both countries, with a focus on addressing the sector's key challenges.
The meeting was attended by prominent figures from Namibia's diamond sector, including Brent Eiseb, CEO of Namibia Diamond Trading Company (NDTC); Nekulilo Ithete, Director of the Diamond Board of Namibia; Bartholomues De Klerk, Director of the Diamond Board of Namibia; Emily Kapulwa, Director of the Diamond Board of Namibia; Willy Mertens, CEO of De Beers Marine Namibia; and Tashi Shiimi-ya-Shiimi, Managing Director of TaTe Diamonds. They were warmly welcomed by GJEPC leaders Vipul Shah, Chairman; Kirit Bhansali, Vice Chairman; Anoop Mehta, President of BDB; Ajesh Mehta, Convener of the Diamond Panel; Russell Mehta, Member of the Diamond Panel; and Sabyasachi Ray, Executive Director.
The discussions highlighted the pressing challenges faced by the global diamond industry, including high production costs and the increasing competition from lab-grown diamonds. Both parties acknowledged the importance of closer cooperation to enhance the diamond value chain and ensure the long-term sustainability of the natural diamond sector.
GJEPC underscored India's position as a key global hub for diamond trading, manufacturing, and consumption. They proposed that Namibia consider hosting diamond auctions in India, utilizing the Special Notified Zones (SNZ) in Mumbai and Surat, which have been bolstered by recent trade-friendly measures announced in the Union Budget.
The council also stressed the need for joint marketing efforts to promote natural diamonds on the global stage. The meeting concluded with both parties agreeing to maintain regular communication and explore further partnerships, including knowledge sharing, skill development, and collaborative marketing initiatives.
The commitment to working together reflects a shared goal of fortifying the natural diamond industry and navigating the evolving market landscape, ensuring that both nations can thrive in the face of emerging challenges.
