The 52nd India Gems & Jewellery Awards took place in Mumbai with Union Home Minister Amit Shah as chief guest, alongside Maharashtra Chief Minister Devendra Fadnavis and Gujarat Deputy Chief Minister Harsh Sanghavi.
Partners for the ceremony included the World Gold Council as gold partner, the Gemological Institute of America as powered-by partner, and co-partners such as Vaibhav Global Limited and Ferrari Logistics.
Industry leaders outline growth targets
The Gem & Jewellery Export Promotion Council (GJEPC) announced a goal of reaching US$100 billion in exports by 2040, tying the ambition to the government’s Viksit Bharat 2047 vision.
Export data for FY 2025-26 showed the sector earned US$27.72 billion, roughly matching the previous year despite global economic headwinds.
Speaking at the awards, Shah said India has the “infrastructure, capital, capability and entrepreneurs to become the world’s gems and jewellery hub” and highlighted lab-grown diamonds as a major growth area.
While the government sets policy, the industry’s ability to scale will determine whether the $100 billion target can translate into broader economic benefits, such as higher employment and increased foreign-exchange earnings.
State governments back the sector
Fadnavis noted that Maharashtra and Mumbai contribute a large share of national exports and that the 2025 jewellery policy aims to attract up to ₹1 lakh crore in investment and create 50,000 jobs.
Deputy Chief Minister Eknath Shinde emphasized that more than five million people work in the sector nationwide, with Maharashtra accounting for over half of the country’s gem and jewellery shipments.
Following recent approvals, the India Jewellery Park in Navi Mumbai is set to commence work on Dussehra, marking the first major infrastructure project dedicated to the industry in the region.
GJEPC Chairman Kirit Bhansali said the past few years brought challenges from geopolitical tensions, tariff pressures and softer demand, yet the sector responded by entering new markets and adopting technology.
Honouring innovation and leadership
The ceremony highlighted a wide spectrum of achievements, from cutting-edge design to community impact. Awards were presented for excellence in areas such as synthetic stones, lab-grown diamonds, costume and fashion jewellery, and banking support to the sector. One of the notable recognitions was the Special Recognition Award given to a veteran of the diamond trade, acknowledging more than seven decades of service that has helped shape India’s position in the global market.
A Lifetime Achievement Award honoured a pioneering entrepreneur whose journey reflects both commercial success and a deep commitment to societal welfare. The accolade showed the importance of sustained leadership in driving the industry’s growth and its contributions beyond mere trade figures.
Policy support and future infrastructure
Senior state officials outlined upcoming measures designed to strengthen the ecosystem. Adv. Ashish Shelar, Hon’ble Minister of Electronics, Information Technology and Artificial Intelligence Department, Government of Maharashtra, emphasized the integration of digital tools to streamline supply chains and enhance transparency for exporters. He noted that the 2025 jewellery policy includes provisions to strengthen the sector.
