The election of Mehul Shah is an important milestone for the Indian diamond industry and opens a new chapter for the country to play a key role in taking the global diamond industry forward
Singapore: Mehul Shah, Vice President of Bharat Diamond Bourse (BDB), has been elected President of the World Federation of Diamond Bourses (WFDB). The election took place during the 41st World Diamond Congress, held in Singapore from July 12-15, 2026. Leaders of 20 global diamond bourses attending the Congress voted to elect the new office-bearers.
Luigi Cosma, President Borsa Diamanti d’Italia, was elected Vice President of WFDB and Molefi Letsiki, Chairman of Diamond Dealers Club of South Africa, was elected Treasurer General of WFDB. They have supported Shah’s vision for the Federation.
The election of Mehul Shah is an important milestone for the Indian diamond industry and opens a new chapter for the country to play a key role in taking the global diamond industry forward.
Thanking the delegates and Presidents of global diamond bourses, Mehul Shah said, “I am humbled by this appointment and proud to have represented India and Bharat Diamond Bourse on an international stage. This new responsibility given to me is rooted in my journey of four decades of commitment to the natural diamond industry.”
He added, “As the delegates to the Congress deliberate over the way forward in a challenging global market, I am confident that the discussions in Singapore will lead to meaningful outcomes. The new leadership team at WFDB is committed to taking forward the vision of the Congress and building a stronger future for the industry.”
Notably, global leaders from across the natural diamond value chain gathered at the 41st World Diamond Congress to discuss consumer demand, market recovery, technology, provenance and the future of the diamond industry. One of the main agendas of WFDB delegates present there was to elect a new President and Executive Committee.
The World Federation of Diamond Bourses is an association of the world’s major diamond bourses and promotes the interests of the member bourses and their constituents. As the official organization of the international diamond trading sector, the WFDB creates a common set of trading practices in rough and polished diamonds, and advances the principles of trust, transparency and integrity among the members of the bourses and throughout the industry.
Founded in 1947, the WFDB currently has 27 affiliated bourse members located in major diamond centres throughout the world.
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