Mehul Shah Charts New Global Vision as First Indian to Lead WFDB

MUMBAI : In a landmark moment for India’s diamond industry, Mehul Shah has assumed office as the first Indian President of the World Federation of Diamond Bourses (WFDB), pledging to strengthen consumer confidence, promote natural diamonds and deepen global cooperation across the diamond value chain.

Speaking after his election during the recent WFDB Congress in Singapore, Shah said the organisation’s immediate priority would be to implement the shared vision developed by industry leaders over three days of strategic discussions.

“We will focus on reaffirming the industry’s collective commitment to strengthening consumer confidence and reinforcing the enduring value of natural diamonds,” Shah said.

He added that the WFDB would work closely with global and country-specific trade organisations to improve transparency, traceability and responsible business practices, all aimed at enhancing trust among consumers.

Established in 1947 in Antwerp, the WFDB is the apex body representing 28 diamond bourses and six affiliate members worldwide, including mining companies, diamond exchanges and trade organisations. The federation addresses global industry challenges while promoting ethical trade and sustainable growth.

Shah’s appointment marks a historic milestone for India, the world’s largest diamond manufacturing hub. A veteran diamantaire with more than 46 years of experience, he joined the Bharat Diamond Bourse (BDB) Board in 2001 and became its Vice President in 2009. He has represented India at every WFDB Congress since 2002 and served as the federation’s Treasurer General from 2016.

“It is a timely recognition of the key role that India plays in the diamond industry. We will be guided by the Indian philosophy of Vasudhaiva Kutumbakam and promote mutually beneficial cooperation across the global diamond pipeline,” Shah said.

He acknowledged the support of BDB President Anoop Mehta and GJEPC Vice Chairman Shaunak Parikh in his journey to the top post.

Looking ahead, Shah said his administration will focus on promoting the desirability of natural diamonds through better storytelling, digital innovation and stronger industry-wide collaboration.

Another key priority will be expanding the WFDB’s global footprint by increasing its membership from the current 34 organisations to at least 50 full and affiliate members. The recent inclusion of the Qatar Diamond Exchange, along with the return of the Israel Diamond Exchange and New Israel Club for Commerce, reflects this expansion strategy.

Shah also emphasised the importance of mentoring young diamantaires and involving the next generation in the federation’s administration to ensure fresh ideas and long-term sustainability.

“A stronger, more inclusive WFDB will help every member bourse overcome challenges and contribute to the shared growth of the global natural diamond industry,” he said.