SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81
Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
Vasant Mehta, former chairman of the Gem & Jewellery Export Promotion Council and founder of M/s V. Rameshchandra & Co., has died at age 81. (Photo courtesy of CIBJO)
Mumbai, India—Vasant Mehta, a second-generation diamantaire who served as both chairman and vice chairman of India’s Gem & Jewellery Export Promotion Council, has died.
He was 81.
GJEPC said Mehta’s wisdom, commitment, integrity, and deep understanding of the diamond industry made him a respected figure, not just in India but also worldwide.
“His sudden demise is an immense loss to the fraternity,” the organization said. “GJEPC extends its heartfelt condolences to his family, friends, and colleagues.”
Born in 1945, Mehta graduated from the University of Calcutta and moved to Mumbai in 1966 to work in what was then an emerging industry in India: diamond cutting.
Mehta was a second-generation diamantaire whose family’s involvement in the diamond industry dates to the early 20th century.
He founded and served as senior partner of M/s V. Rameshchandra & Co., a Mumbai-based diamond and gemstone trading company.
The GJEPC said Mehta dedicated decades of his life to the growth and development of the diamond industry through his time with the council in India and on the international stage.
He served two terms as GJEPC vice chairman (1991-1992 and 2006-2008) and was elected chairman in October 2008.
Mehta led GJEPC through the 2008 financial crisis, taking the diamond industry’s banking and liquidity concerns to government officials and India's banks.
In 2011, India’s Ministry of Commerce appointed him to serve as a part-time director on the board of the government-owned Export Credit Guarantee Corp.
Mehta also represented GJEPC at meetings of international industry organizations, including the World Diamond Council, World Federation of Diamond Bourses, International Diamond Manufacturers Association, the Kimberley Process (KP), and CIBJO.
He served as the vice president of IDMA and had an “active role” in the creation of the KP in the early 2000s.
In a message shared on Monday, CIBJO President Gaetano Cavalieri called Mehta a good friend and a valued associate.
“While a prominent businessman in his own right, he was first and foremost a servant of the industry, in India of course, but globally as well, where in his quiet and dignified manner he devoted much of his time working to the benefit of us all,” Cavalieri said.
“Our condolences go out to his family and to our colleagues in India.”
He was 81.
GJEPC said Mehta’s wisdom, commitment, integrity, and deep understanding of the diamond industry made him a respected figure, not just in India but also worldwide.
“His sudden demise is an immense loss to the fraternity,” the organization said. “GJEPC extends its heartfelt condolences to his family, friends, and colleagues.”
Born in 1945, Mehta graduated from the University of Calcutta and moved to Mumbai in 1966 to work in what was then an emerging industry in India: diamond cutting.
Mehta was a second-generation diamantaire whose family’s involvement in the diamond industry dates to the early 20th century.
He founded and served as senior partner of M/s V. Rameshchandra & Co., a Mumbai-based diamond and gemstone trading company.
The GJEPC said Mehta dedicated decades of his life to the growth and development of the diamond industry through his time with the council in India and on the international stage.
He served two terms as GJEPC vice chairman (1991-1992 and 2006-2008) and was elected chairman in October 2008.
Mehta led GJEPC through the 2008 financial crisis, taking the diamond industry’s banking and liquidity concerns to government officials and India's banks.
In 2011, India’s Ministry of Commerce appointed him to serve as a part-time director on the board of the government-owned Export Credit Guarantee Corp.
Mehta also represented GJEPC at meetings of international industry organizations, including the World Diamond Council, World Federation of Diamond Bourses, International Diamond Manufacturers Association, the Kimberley Process (KP), and CIBJO.
He served as the vice president of IDMA and had an “active role” in the creation of the KP in the early 2000s.
In a message shared on Monday, CIBJO President Gaetano Cavalieri called Mehta a good friend and a valued associate.
“While a prominent businessman in his own right, he was first and foremost a servant of the industry, in India of course, but globally as well, where in his quiet and dignified manner he devoted much of his time working to the benefit of us all,” Cavalieri said.
“Our condolences go out to his family and to our colleagues in India.”
More on Sourcing
The Latest
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
AuctionsOct 13, 2026
Christie's Geneva To Auction 'Bulgari Pink' DiamondThe 24-carat fancy intense pink diamond ring could fetch up to $18 million at the November sale.
IndependentsOct 13, 2026
Greenwich St. Jewelers’ New Candle Smells Like HomeThe “Island Jewel” candle honors New York City and Puerto Rico and raises money for the island’s water relief efforts.
TechnologyOct 13, 2026
GemFind Is a New JA Member Benefit Partner The partnership will give JA members access to preferred pricing, exclusive benefits, technology solutions, education, and resources.
SurveysOct 09, 2026
These Will Be the 10 Busiest Days for In-Store Shopping This Holiday SeasonStores should expect to see the most customers on Nov. 27, and Christmas week is expected to be hectic too, as Dec. 25 falls on a Friday.
CollectionsOct 09, 2026
Elisa Solomon Collabs With Serendipity 3 on ‘Frozen Hot Chocolate’ CharmThe charm, our Piece of the Week, features brown diamond frozen hot chocolate topped with white diamond whipped cream and a ruby straw.
AuctionsOct 09, 2026
8-Carat Blue Diamond Goes Unsold at UK Jewelry Auction The top lot of Elmwood’s recent fine jewelry sale in London was a 1.84-carat, D color Tiffany & Co. solitaire diamond ring.
WatchesOct 09, 2026
Movado to Sell Majority Stake in Ebel for $66.5MThe watch company agreed to sell a 95 percent interest to a group comprised of F.P. Journe, Chanel, and Swiss watch exec Pierre Jacques.
Policies & IssuesOct 08, 2026
Third Wave of IEEPA Tariff Refunds Begins This round of tariff refunds is for importers that have sued over IEEPA tariffs in the Court of International Trade and won.
CollectionsOct 08, 2026
Brent Neale’s New Collection Goes ‘Back to Basics’It revisits the brand’s most requested silhouettes, from "Pillow"-set necklaces and bracelets to "Signature"-set rings and earrings.
SourcingOct 08, 2026
Ethical Gem Fair Heads Back to BrooklynThe trade-only event includes buying opportunities as well as educational sessions on artisanal mining, the new Paraíba source, and more.
Events & AwardsOct 08, 2026
Pattons Fine Jewelry Sweeps Local Design ContestAra Chanakian, a jeweler at Pattons, took home top honors in every category at Jewelers of Louisiana’s annual jewelry design competition.
