Sunday, July 7, 2024

Two Indian Diamond Leaders Vie for AWDC Board

Antwerp, Belgium— In a significant development within the diamond industry, two Indian leaders are vying for positions on the board of the Antwerp World Diamond Centre (AWDC), highlighting India’s growing influence in global diamond trade and its ambitions to shape international policies.

The AWDC, based in Antwerp, Belgium, is pivotal in promoting collaboration among industry players and advocating for global diamond trading interests.

Chirag Shah, CEO of Yashvi Diamonds, and Ravi Bhansali, Managing Director of Rosy Blue, are among the candidates. Their candidacy underscores a trend of increasing Indian participation in global diamond governance, reflecting India’s rise in diamond manufacturing and trading.

Scheduled for June 17th and 18th, the election comes amid challenges in Antwerp and the global diamond industry. Recently, the AWDC CEO resigned after 13 years amidst G7 sanctions, and operational issues have arisen at Antwerp’s Diamond Office.

Shah and Bhansali have expressed readiness to address these challenges. Shah stated, “These are challenging times,” emphasizing the need for decisive action. Bhansali added, “Challenging times demand proactive steps.”

If elected, Shah and Bhansali could bring new perspectives on market dynamics and sustainability to global diamond policies. Their potential election would mark a milestone in industry globalization, reflecting the influence of emerging markets.

Observers are keenly watching how the election will impact global diamond policies and market dynamics, signaling a shift in industry leadership.

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