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
MajorsJan 23, 2026
Watches of Switzerland Acquires 4-Store Jewelry Chain in TexasFamily-owned jewelry and watch retailer Deutsch & Deutsch has stores in El Paso, Laredo, McAllen, and Victoria.
WatchesJan 23, 2026
Damiani Group to Acquire Baume & MercierThe Italian luxury company purchased the nearly 200-year-old Swiss watch brand from Richemont.
TrendsJan 23, 2026
Martin Katz’s Earrings Call to Mind Wintry Weather Micro-set with hundreds of diamonds, these snowflake earrings recreate “winter’s most elegant silhouette,” and are our Piece of the Week.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
MajorsJan 23, 2026
Rembrandt Charms Names New Director of Creative, Brand StrategyElla Blum was appointed to the newly created role.
Weekly QuizJan 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinJan 22, 2026
The Rise of Centralized Sourcing in the Colored Gemstone MarketSponsored by RapNet
MajorsJan 22, 2026
Lugano Diamonds Finds a BuyerInvestment firm Enhanced Retail Funding, a division of Gordon Brothers, was the successful bidder.
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.
MajorsJan 22, 2026
Swarovski Appoints New North America PresidentRetail veteran Sindhu Culas has stepped into the role.
MajorsJan 22, 2026
Stuller Names New Chief Merchandising, Marketing, Sales OfficerTaylor Burgess, who has been at Stuller since 2013, was promoted to the newly created role.
PodcastsJan 21, 2026
Episode 1: High Gold Prices, the Diamond Dilemma, & What’s NextWas 2025 a good year for jewelers? Did lab-grown diamonds outsell natural? Find out on the first episode of the “My Next Question” podcast.
EditorsJan 21, 2026
6 Jewelry Designers Poised to Have a Breakout Year in 2026Whether you recognize their jewels or are just discovering them now, these designers’ talent and vision make them ones to watch this year.
CrimeJan 21, 2026
4 Men Charged in $1.7M California Smash-and-Grab Jewelry Store RobberyPlus, JSA’s Scott Guginsky discusses the need for jewelers to take more precautions as the gold price continues to climb.
IndependentsJan 21, 2026
Delaware Jeweler Felice Morris Dies at 91Morris’ most cherished role was being a mother and grandmother, her family said.
CollectionsJan 21, 2026
Bulgari Weaves New Collection of ‘Vimini’ Creations“Vimini” is the first chapter of the “Bulgari Eternal” collection that merges archival pieces with modern creations.
Events & AwardsJan 21, 2026
Jewelers Mutual’s ‘Conversations’ Retreat Returns to Discuss AIThe third edition will be held in Half Moon Bay, California, in April.
Events & AwardsJan 20, 2026
These Are the 5 Finalists for the David Yurman Gem Awards GrantThe grant is in its first year and was created to recognize an exceptional fine jewelry designer whose star is on the rise.
ColumnistsJan 20, 2026
First-Party Data Is the Most Valuable Asset Jewelers Have in 2026Data built on trust, not tracking, will be key to success going forward, as the era of “borrowed attention” ends, Emmanuel Raheb writes.
MajorsJan 20, 2026
Borsheims Hires New Assistant Facilities ManagerHeath Yarges brings two decades of experience to the role.
EditorsJan 16, 2026
Remembering Pete Yantzer for His Contributions and His Kindness Pete’s boundless curiosity extended beyond diamond cut and he was always eager to share his knowledge with others, no matter the topic.
FinancialsJan 16, 2026
Richemont’s Jewelry Brands Shine in Q3Cartier, Van Cleef & Arpels, Buccellati, and Vhernier had another successful holiday season, Richemont reported this week.
TrendsJan 16, 2026
Diane Lane's Brooch Buzzes at the 2026 Golden GlobesOur Piece of the Week is Lagos’ “Bee” brooch that was seen on the red carpet for the first time on Sunday.
CrimeJan 15, 2026
D.C. Rapper ‘Taliban Glizzy’ Sentenced to 18+ Years for Jewelry Store RobberiesTrevor Jonathan Wright led a crew in a string of armed robberies targeting South Asian-owned jewelry stores on the East Coast.
Events & AwardsJan 15, 2026
Jewelers of Americas’ ‘20 Under 40’ Nominations Now OpenThe program recognizes rising professionals in the jewelry industry.
Events & AwardsJan 15, 2026
Registration for JCK Las Vegas 2026 Is Now OpenA new lifestyle section and a watch showcase have been added to this year’s event.
TrendsJan 15, 2026
Don’t Double-Dip With This Golden ChipAvocados From Mexico is celebrating those who love to double-dip in game day guacamole with a 14-karat yellow gold tortilla chip necklace.
SourcingJan 15, 2026
Nearly 42-Carat Blue Diamond Discovered in South AfricaPetra Diamonds unearthed the 41.82-carat, Type IIb blue diamond at the Cullinan Mine.
