ALTR and J’EVAR Founder Amish R. Shah Inspires at Pre Summit of 10th Vibrant Gujarat Global Summit 2024

ALTR and J'EVAR Founder Amish R. Shah

NEW YORK, USA, December 29, 2023 — Amish R. Shah, founder of ALTR Created Diamonds and J’EVAR, took pride in attending the 10th Vibrant Gujarat Global Summit 2024 on December 12, 2023, held at the Platinum Hall, SGCCI. Serving as a distinguished guest speaker in the presence of Minister of State for Home Affairs Shri Harsh Sanghvi, Shah actively participated in the prestigious pre-summit seminar session “Lab-Grown Diamonds: A Visionary Journey for Gujarat’s Next Quarter Century on Gems & Jewellery.” underscoring his commitment to driving positive change in the industry.

This enlightening seminar dived into the critical theme of “Value Creation is the key to continued Success,” exploring pivotal topics that shape the future of the industry. Accompanied by renowned professionals, including Smt. Nirupa Bhatt, Shri Janak Mistry, and distinguished thought leaders, the event promoted insightful discussions on the challenges and opportunities within the evolving landscape of lab-grown diamonds.

Addressing the gathering, Minister of State for Home Affairs Harsh Sanghvi said, “The diamond industry has been instrumental in improving the standard of living for millions of citizens and families in the state, including Surat, leading them on the path to prosperity. Surat has always been at the forefront when it comes to real diamonds, and hence, the state government aims to make Surat a leader in the lab-grown diamond sector too.” Shri Sanghvi stated that the government has a concrete approach to help them by organizing pre-vibrant events to pay attention to their problems, their presentations, and to try and establish a network for the industrialists of the state. “Every single rupee invested in Gujarat is safe,” he added, emphasizing that the land of Gujarat has been beneficial in giving returns for the money invested here.

Industry Pioneer, Amish Shah, who started his journey in 2006, detailed the importance of value creation through branding, design, and marketing. He shared the journey of ALTR, the world’s first lab-grown diamond brand launched in 2016, which unlocked the category for the trade and consumer. He further explained how branding lab-grown diamonds proves essential for building trust and resonating with consumers. The foundation of transparency needed to be laid through brand communication and openness about the diamond’s manufacturing process, sourcing, and environmental impact. Authenticity needed to take center stage, emphasizing ethical and sustainable practices to meet the rising demand from consumers. Education played a pivotal role, enabling ALTR to enlighten consumers about the unique qualities and benefits of lab-grown diamonds, dispelling any misconceptions. Shah’s insights highlighted ALTR’s mission to establish lab-grown diamonds as a socially acknowledged brand, contributing to a narrative of sustainability and responsible consumerism. In essence, ALTR’s approach was not only to attract consumers but also to shape a positive industry perception through these 8 years.

Furthermore, Amish R. Shah eloquently stated, “The industry needs to transition from a component cost model to value creation.” Quoting J’EVAR as an example for value creation in the fine jewelry, he further stated, “The true value lies in what is created with the component, not just the component itself.” J’EVAR is a fine jewelry brand that focuses on the pillars of design, quality, sustainability, and innovation. The brand crafts its fine jewelry using recycled gold and Type IIA Lab Grown Diamonds grown with renewable energy. Consumers today are looking to align with brands like J’EVAR that reflect their lifestyle and value, delivering a unique and personalized experience in the realm of luxury and sustainability.

The session participants engaged in a profound exploration of challenges associated with short supply chains, focusing on early movers who laid the foundation for successful brands. Their discussions provided valuable perspectives on navigating challenges and ensuring sustained growth. The inherent opportunity within lab-grown diamonds lies in their capacity to enhance the allure of these gems, offering consumers a distinctive value proposition. Beyond the ethical and sustainable advantages, consumers can seize the opportunity to acquire larger diamond sizes, superior color, and clarity. This not only presents a more cost-effective alternative to traditional diamonds but also provides individuals with the privilege of enjoying heightened quality and aesthetic appeal.

India is the fifth-largest economy in the world today. As the country is moving rapidly towards becoming the world’s third-largest economy, the Surat Diamond Bourse inaugurated by the Honorable Prime Minister Narendra Modi on 17th December in Surat has already achieved the honor of becoming the world’s largest commercial hub.

SGCCI President Shri Ramesh Vaghasia delivered the vote of thanks while giving an overview of SGCCI’s Mission Global Connect launched with a target set for exports worth Rs 84,000 crores.

Chairman of ASSOCHAM, Gujarat Council Shri Chintan Thacker, in his welcome address, presented the role of the Gems and Jewellery sector of Gujarat in the context of ‘Viksit Bharat @2047’ and gave an outline of the pre-event.

At this event, Industries Commissioner Shri Sandeep Sagle, District Collector Shri Aayush Oak, Surat Municipal Commissioner Smt Shalini Aggarwal, Regional Chairman of Gujarat Gems and Jewellery Export Promotion Council (GJEPC) Shri Vijay Mangukiya, Chairman of the Indian Diamond Institute Shri Dinesh Navadia, President of Surat Jewellery Manufacturers Association Shri Jayanti Savaliya, state and central government officials, including industrialists and entrepreneurs from the gems and Jewellery sector, were present.

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