Shah will take over from former Israel Diamond Exchange president Yoram Dvash, who held the role for six years. The election was held last week during the World Diamond Congress in Singapore.
Other candidates included Ahmed Bin Sulayem, chairman of the Dubai Diamond Exchange (DDE), and Lin Qiang, president of the Shanghai Diamond Exchange (SDE), with Rapaport News reporting on the circumstances around what was an unexpectedly ‘hotly contested’ election.
Shah outlined his priorities for the WFDB as India prepares to expand its role in the global diamond industry.
“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,” he said.
“The new leadership team at WFDB is committed to taking forward the vision of the Congress and building a stronger future for the industry.”
The federation also elected Luigi Cosma, president of the Borsa Diamanti d’Italia, as vice president, and Molefi Letsiki, chairman of the Diamond Dealers Club of South Africa, as treasurer.
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