On November 22nd, Paul Rowley, Executive Vice President of De Beers - Global Sightholder Sales, met with key figures from the Gem & Jewellery Export Promotion Council (GJEPC) at their Mumbai headquarters. The gathering included GJEPC Chairman Vipul Shah, Vice Chairman Kirit Bhansali, and members of the Council's Diamond Panel, such as Convener Ajesh Mehta, Co-Convener Saunak Parikh, and others, including Executive Director Sabyasachi Ray.

The discussions covered critical industry topics such as market stability, production strategies, and emerging marketing trends amidst global shifts. Rowley highlighted the challenges posed by destocking, particularly in China, where diamond consumption has significantly decreased. He noted that while the midstream sector is feeling the effects, there is optimism as destocking approaches balance, and the US market continues to show stable demand. Rowley emphasized the need for supply discipline to prevent oversupply and ensure sustainable growth in the coming years.

Both De Beers and GJEPC leaders expressed their shared commitment to setting the stage for a promising 2025, focusing on the long-term health of the diamond industry.