Shashikant Dalichand Shah is a veteran entrepreneur and prominent voice in India’s diamond and jewelry industry. As Chairman of the Lab Grown Diamond & Jewellery Promotion Council of India (LGDJPC), he has played a pivotal role in mainstreaming lab-grown diamonds, advocating for supportive policies, and leading industry development efforts across the country. He is also the founder of DM Gems and holds directorships in several diamond and technology-related ventures.
Shah began his journey in 2003 with the launch of an exclusive diamond jewelry showroom under the Nakshatra and Asmi brands. He soon established DM Gems, which became one of the earliest distributors of lab-grown diamonds in India through a partnership with Gemesis Corp. USA. His strategic foresight positioned him at the forefront of the lab-grown diamond movement long before it became mainstream.
He currently holds leadership roles in DM Gems LLP and Innovative Diamond and Technology Combines Pvt. Ltd., actively contributing to the growth of diamond manufacturing and innovation. He also works with companies looking to scale by supporting their efforts in raising funds for business expansion through structured, industry-aligned approaches.
As Chairman of LGDJPC, Shah has been instrumental in driving policy engagement with the Government of India to support the lab-grown diamond sector. He successfully advocated for reduced import duties on LGD seeds and technology grants for R\&D. His leadership has helped elevate India as a global leader in lab-grown diamond exports.
Shah is widely recognized for championing transparency, trade ethics, and market integration between natural and lab-grown diamond segments. He has also led the industry's dialogue with trading hubs like Bharat Diamond Bourse to open access for LGD traders.
Shah is frequently quoted in leading business media including The Times of India, Moneycontrol, and CNBC-TV18, offering insights on trade trends, export growth, and consumer shifts. His interviews and panels consistently promote lab-grown diamonds as a sustainable, affordable, and credible alternative to mined diamonds.
Under his leadership, India's LGD exports have grown from ₹300 crore in 2018 to over ₹13,000 crore in FY23. Shah continues to guide industry growth with a focus on innovation, ethical trade, and global competitiveness. His vision of creating a strong, sustainable diamond economy has made him one of the most respected figures in India's gem and jewelry landscape.
Darshan Shashikant Shah is a seasoned entrepreneur, industry leader, and strategic advisor in the diamond, gemstone, and jewelry sectors. He brings over a decade of experience in manufacturing, marketing, and innovation, with a unique focus on lab-grown diamonds, advanced production technologies, and business consulting. Darshan is the Director of DM Gems LLP and co-founder of Innovative Diamond and Technology Combines Pvt. Ltd. He currently supports businesses in raising funds and expanding operations across India and global markets.
Darshan's journey began in 2008 when he formally joined DM Gems, a family enterprise that was one of the world's first appointed distributors for lab-grown diamonds. With hands-on training in diamond cutting and polishing, he led DM Gems into high-tech segments like MPCVD reactors and contract manufacturing for major lab-grown producers. His strategic direction helped DM Gems evolve from trading to full-spectrum solutions in gem manufacturing.
He later co-founded Innovative Diamond and Technology Combines Pvt. Ltd., focusing on advanced diamond reactor setups and international partnerships. Darshan's leadership combines deep industry knowledge with operational execution, allowing him to guide companies through sourcing, production, branding, and growth.
Darshan serves as Director-Convener of the Lab Grown Diamond and Jewellery Promotion Council of India (LGDJPC), where he champions awareness, policy support, and ecosystem building for sustainable diamond trade. His work has helped bridge manufacturers, exporters, and policy influencers to support the rise of eco-friendly, lab-grown diamonds.
Darshan is known for helping international and Indian businesses expand through smart project structuring, sourcing optimization, and capital advisory. His expertise lies in evaluating ventures, connecting stakeholders, and enabling project-based funding across industries including jewelry, manufacturing, and retail. His practical understanding of operations and investor expectations allows him to build trust-driven, long-term strategies.
Darshan works with businesses seeking expansion to raise strategic capital, optimize cost structures, and identify sustainable growth pathways. His background in consulting, financial structuring, and industry-specific operations makes him a strong asset for companies looking to scale efficiently and responsibly. Drawing from years of experience in government-industry interfacing, he also advises on regulatory pathways and investor alignment.
Darshan S. Shah is a practical visionary who blends industry tradition with innovation. With a foundation in gem manufacturing, a forward-looking lens on lab-grown technology, and a proven track record in consulting and funding strategy, he helps businesses unlock their next phase of growth.