Former GJEPC Chairman Vasant Mehta Dies at 81

Vasant Mehta, former chairman of the Gem & Jewellery Export Promotion Council (GJEPC) has died at age 81.

Mehta held two terms as vice chairman at GJEPC, from 1991 to 1992 and from 2006 to 2008, before serving as chairman between 2008 and 2010, the council said Monday. He was on the council’s committees for more than two decades, including many years as convenor of the banking, insurance and taxation committee.

He also represented the Indian diamond industry at leading international bodies, including the World Diamond Council (WDC), the World Federation of Diamond Bourses (WFDB), the International Diamond Manufacturers Association (IDMA), the World Jewellery Confederation (CIBJO) and the Kimberley Process. Mehta was also part of the Bharat Diamond Bourse (BDB) committee, advising its legal committee, and was involved with the Mumbai Diamond Merchants Association.

A second-generation diamantaire, Mehta was founder and senior partner of M/s V. Rameshchandra & Co. in Mumbai, and had been involved in the family business for over 50 years. The business provided gemstones to Indian royalty, manufactured rose-cut diamonds and exported colored gemstones to international markets.

“While a prominent businessman in his own right, [Mehta] was first and foremost a servant of the industry, in India of course, but globally as well, where in his quiet and dignified manner he devoted much of his time working to the benefit of us all,” said CIBJO president Gaetano Cavalieri.

Image: Vasant Mehta. (World Jewellery Confederation)