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.
More on Sourcing
The Latest
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
Weekly QuizNov 13, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
TechnologyNov 19, 2025
Google Has a New Form for Reporting ‘Review Bombing’ Attacks Plus, the tech giant shares the steps retailers should take if they believe they’re a victim of a review extortion scam.
IndependentsNov 19, 2025
Houston Jeweler Keith Shaftel Retires, Next Generation Steps In Danny and Gaby Shaftel are now Shaftel Diamonds’ CEO and chief operating officer, respectively.
TrendsNov 19, 2025
Midas Chain Releases 2025 Holiday Style GuideThe jewelry manufacturer’s seasonal offering features its new “Melodie” bangles, as well as mini stud earrings and layering pieces.
Events & AwardsNov 18, 2025
NYC Jewelry Week 2025: 12 Must-See EventsWith more than 140 activations taking place in New York City now through Nov. 23, these 12 events are can’t-miss moments.
MajorsNov 18, 2025
Lugano Diamonds Files for Bankruptcy, Looking for BuyerThe Chapter 11 filing follows the resignation of CEO Moti Ferder, who stepped down after an investigation into the company’s finances.
Events & AwardsNov 18, 2025
A Giant, Bejeweled Moldy Berry Is on Display in LAThe artwork is part of an exhibition featuring works by Kathleen Ryan, an artist known for her gemstone-studded rotting fruit sculptures.
CrimeNov 17, 2025
Police Searching for 2 Suspects in Murder of Father, Son Jewelers Faustino Alamo Dominguez and his son, 25-year-old Luis Angel Alamo, were gunned down following an armed robbery at their jewelry store.
GradingNov 17, 2025
IGI Announces New President of North AmericaTiffany & Co. veteran Jeffrey Bennett has stepped into the role.
MajorsNov 17, 2025
Look Inside Robbins Brothers Fine Jewelers’ New Pasadena FlagshipThe showroom is located in a historic 1920s building in the Playhouse District.
Policies & IssuesNov 14, 2025
U.S., Switzerland Reach Deal That Drops Tariff to 15%The Swiss government announced the deal, which cuts the tax on Swiss imports by more than half, on social media Friday morning.
AuctionsNov 14, 2025
Napoleon’s Diamond Brooch Blows Away Auction Estimates A buyer paid $4.4 million for the piece, which Napoleon wore on his hat for special occasions and left behind when he fled Waterloo.
FinancialsNov 14, 2025
Richemont’s Q2 Jewelry Sales Up 12%Plus, how tariffs and the rising price of gold are affecting its watch and jewelry brands.
CollectionsNov 14, 2025
Piece of the Week: Silvia Furmanovich’s ‘Butterflies in Flight’ Jewelry BoxFurmanovich designed the box to hold Mellerio’s “Color Queen,” a high jewelry collection consisting of 10 rings.
Events & AwardsNov 14, 2025
JCK Names New Event DirectorJennifer Hopf, who has been with JCK since 2022, will lead the execution of the long-running jewelry trade show.
IndependentsNov 13, 2025
127-Year-Old New Orleans Jeweler to CloseAdler’s Jewelry is set to close its two stores as 82-year-old owner Coleman E. Adler II retires.
IndependentsNov 13, 2025
Green Lake Jewelry Works to Move to New Seattle StudioFounder Jim Tuttle shared how a dedication to craftsmanship and meaningful custom jewelry fueled the retailer’s double-digit growth.
MajorsNov 13, 2025
Vahan Jewelry Founder Leon ‘Sacha’ Der Calousdian Dies at 85The third-generation jeweler is remembered as a passionate creative with a love of art, traveling and sailboat racing.
CrimeNov 12, 2025
Father, Son Jewelers in Chicago Victims in Double Homicide JSA and Cook County Crime Stoppers are both offering rewards for information leading to the arrest of the suspect or suspects involved.
AuctionsNov 12, 2025
‘Mellon Blue’ Diamond Sells for $7M Less Than It Did a Decade AgoA buyer paid $25.6 million for the diamond at Christie’s on Tuesday. In 2014, Sotheby’s sold the same stone for $32.6 million.
