For the first time, two Indian diamond merchants are vying for positions on the Board of Directors of the Antwerp World Diamond Centre (AWDC).
This move highlights India’s expanding role in the global diamond trade and its aspirations to influence international policies.
Candidates and Election Context
The candidates, Chirag Shah, CEO of Yashvi Diamonds, and Ravi Bhansali, Managing Director of Rosy Blue, represent a shift towards increased Indian participation in global diamond governance. Their candidacy reflects India’s rise in diamond manufacturing and trading.
The elections are scheduled for June 17th and 18th, during a period of notable challenges for both Antwerp and the broader diamond industry. The recent resignation of the AWDC CEO after 13 years, following G7 sanctions, along with operational issues at Antwerp’s Diamond Office, have created a complex backdrop for this election.
Candidates’ Statements
Both Shah and Bhansali have expressed their commitment to addressing the industry’s current challenges. Shah remarked, “These are challenging times,” emphasizing the need for action. Similarly, Bhansali stated, “Challenging times demand proactive steps.”
Implications for the Diamond Industry
The potential election of Shah and Bhansali could introduce new perspectives on market dynamics and sustainability to global diamond policies. Their election would mark a step in the industry’s globalization, reflecting the influence of emerging markets like India.
Industry Reactions
Observers are watching to see how this election will impact global diamond policies and market dynamics, indicating a potential shift in industry leadership. The increased representation of Indian merchants on the AWDC Board could influence how global diamond trading interests are promoted and managed.
