India's Gem & Jewellery Export Promotion Council (GJEPC) has named Kirit Bhansali of Smital Gems as new chairman, succeeding Vipul Shah, who led the council from 2020-2022.

GJEPC also appointed Shaunak Parikh as vice chairman and announced the constitution of a new Committee of Administration (CoA).

Bhansali said driving transformative growth for India’s gem and jewellery industry through strategic initiatives, innovative projects and collaborative efforts will be top priority during his term. 

These involve advancing flagship projects like the India Jewellery Park in Mumbai and the Gem Bourse in Jaipur to expanding India's global footprint with initiatives like Saudijex in Saudi Arabia and IJEX Dubai.

"We aim to position India as a global leader in technology, design and manufacturing," he remarked.  "Together, we will strive to achieve the ambitious exports target of US$100 billion by 2047.”

To boost gem and jewellery exports and support India’s economic growth, GJEPC has identified 17 key clusters based on size, potential and strategic location that will eventually be developed into thriving export hubs, added Bhansali.