SourcingFeb 12, 2025
SRK Announces Notable Reduction in Greenhouse Gas EmissionsSourcingFeb 20, 2025
GJEPC Names New Chairman, Vice Chairman
Kirit Bhansali, a partner in Smital Gems and chairman of India Jewellery Park, will take on the role of chairman.
The Gem & Jewellery Export Promotion Council has named Kirit Bhansali as its new chairman.
Mumbai, India—The Gem & Jewellery Export Promotion Council (GJEPC) has named a new chairman as well as other elected officials.
Kirit Bhansali was appointed as chairman after former chairman Vipul Shah reached the end of his term.
Bhansali, who previously was the vice chairman of GJEPC, is a partner in Smital Gems, a diamond manufacturing company based in Mumbai. He is also chairman of India Jewellery Park in Mumbai.
Previously, he served as chairman of the Indian Institute of Gems and Jewellery.
In a release from GJEPC, Bhansali outlined his goals as he takes the reigns of the organization.
“Our vision is to drive transformative growth for India’s gem and jewellery industry through strategic initiatives, innovative projects, and collaborative efforts,” said Bhansali.
The goal is to position India as a leader in technology, design, and manufacturing, he said, highlighting the need to advance projects like the India Jewellery Park in Mumbai and the Gem Bourse in Jaipur.
“Together, we will strive to achieve the ambitious export target of $100 billion by 2047, aligning with our Honorable Prime Minister [Narendra Modi]’s vision of a Viksit Bharat,” he said.
Viksit Bharat refers to a nationwide campaign by the Indian government to transform India into a “developed nation” by 2047, the centennial of its independence.
"We aim to sustain India’s global leadership, capitalize on domestic market potential, and advocate for favorable policies while continuing to support our artisans,” he said.
To bolster exports from the sector and support the country’s economic growth, GJEPC has identified 17 key clusters, based on size, potential, and location, that could be developed into “thriving export hubs,” said Bhansali.
Related stories will be right here …
Kirit Bhansali was appointed as chairman after former chairman Vipul Shah reached the end of his term.
Bhansali, who previously was the vice chairman of GJEPC, is a partner in Smital Gems, a diamond manufacturing company based in Mumbai. He is also chairman of India Jewellery Park in Mumbai.
Previously, he served as chairman of the Indian Institute of Gems and Jewellery.
In a release from GJEPC, Bhansali outlined his goals as he takes the reigns of the organization.
“Our vision is to drive transformative growth for India’s gem and jewellery industry through strategic initiatives, innovative projects, and collaborative efforts,” said Bhansali.
The goal is to position India as a leader in technology, design, and manufacturing, he said, highlighting the need to advance projects like the India Jewellery Park in Mumbai and the Gem Bourse in Jaipur.
“Together, we will strive to achieve the ambitious export target of $100 billion by 2047, aligning with our Honorable Prime Minister [Narendra Modi]’s vision of a Viksit Bharat,” he said.
Viksit Bharat refers to a nationwide campaign by the Indian government to transform India into a “developed nation” by 2047, the centennial of its independence.
"We aim to sustain India’s global leadership, capitalize on domestic market potential, and advocate for favorable policies while continuing to support our artisans,” he said.
To bolster exports from the sector and support the country’s economic growth, GJEPC has identified 17 key clusters, based on size, potential, and location, that could be developed into “thriving export hubs,” said Bhansali.
Shaunak Jitendra Parikh has been appointed as vice chairman of GJEPC.
The third-generation entrepreneur is one of the directors of Mahendra Brothers Group of Companies, which manufacture and market diamonds and diamond jewelry.
GJEPC has named Shaunak Jitendra Parikh, a director at Mahendra Brothers Group of Companies, as its new vice chairman.
Parikh, who has more than 30 years of industry experience, has previously held several key positions in GJEPC, including serving as the convener of the banking, insurance, and taxation committee, as well as the convener of international exhibitions.
He also laid out his plans for the GJEPC.
“This is a crucial time for the industry, and the challenges before us demand bold vision and decisive action,” said Parikh.
“It is imperative to focus on category promotion across all verticals, infrastructure development, skill enhancement, and adopting global standards to ensure our industry remains competitive on the world stage.”
Parikh said GJEPC will continue to work with the Indian government to shape policies that drive growth and address the concerns of its exporters.
The organization also announced the members of its Committee of Administration, with a list available on its website.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
SourcingMar 21, 2025
BrankoGems To Hold Conference in MontanaThe event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ RingAfter the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason DeruloThe rapper and singer-songwriter will perform at Tao Beach on June 8.
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
FinancialsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining SalesThe moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office WearThe “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.
WatchesMar 19, 2025
Breitling Acquires Another Watch Brand From the 1800sBreitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.
