Mehul Shah, Vice President of Bharat Diamond Bourse (BDB) and the newly elected President of the World Federation of Diamond Bourses (WFDB), has outlined the organization's priorities following his appointment, with a focus on strengthening consumer confidence, increasing transparency and expanding collaboration across the natural diamond industry.
We will focus on implementing the shared global vision that emerged at the recent Singapore Diamond Congress after three days of insightful deliberations and strategic dialogue. The WFDB would also strive for industry-wide collaboration to achieve this aim, working closely with other global and country-specific trade organizations on greater transparency, traceability and other measures to build consumer confidence.
Mehul Shah
Shah became the first Indian to be elected President of the WFDB, the global federation representing 28 diamond bourses and six affiliate members, including miners, diamond exchanges and other associated bodies. Established in Antwerp in 1947, the organization addresses industry challenges, supports member bourses and facilitates programmes for the global diamond trade.
A diamantaire with more than 46 years of industry experience, Shah joined the Bharat Diamond Bourse board in 2001 and became Vice President in 2009. Along with BDB President Anoop Mehta, he first represented India at the WFDB Congress in 2002 and was elected Treasurer General of the federation in 2016.
Reflecting on his appointment, Shah said, "I am humbled by this appointment, but believe it is a timely recognition of the key role that India plays in the diamond industry." He further stated, "It is appropriate that the largest manufacturing centre of the industry has come forward to shoulder leadership responsibilities, and remain at the forefront in evolving the perspectives and action plans needed for the next phase of development." He also added, "We will be guided by the Indian philosophy of Vasudev Kutumbkam and encourage mutually beneficial interaction with all other centres across the pipeline."
Outlining the federation's future direction, Shah said, "We will work unitedly with all other stakeholders across the pipeline to promote natural diamonds, increase their desirability and strengthen consumer confidence." He added that the organization will streamline systems, improve transparency, integrate storytelling with emerging technologies, expand membership to at least 50 full and affiliate members, and involve the next generation of diamantaires in the federation's administrative and operational processes.
