The underrepresentation of non-European researchers, participants, and datasets in psychiatric genetics hinders the understanding of mental health conditions and perpetuates health inequities. Ancestral diversity in research is crucial for advancing insights into disease etiology and achieving equity in precision medicine. Key strategies include optimizing data use, fostering global collaboration for capacity building, and adopting best practices in research methods. Ensuring clinical impact, accountability, and multi-agency commitment is vital. A more inclusive approach will enhance understanding of genetic and environmental factors in mental health, leading to equitable and accessible health care outcomes for all populations.