Union Home Minister Shri Amit Shah says India has the infrastructure, capital and entrepreneurship to become the world’s leading gems and jewellery hub, while GJEPC outlines a US$100 billion export roadmap by 2040.
Key Highlights
- Shri Amit Shah attended the 52nd India Gems & Jewellery Awards as Chief Guest.
- GJEPC announced a US$100 billion export target by 2040.
- India recorded US$27.72 billion in gem and jewellery exports during FY 2025–26.
- Amit Shah urged the industry to build the complete lab-grown diamond value chain.
- Maharashtra reaffirmed support for India Jewellery Park in Navi Mumbai.
- The project has the potential to attract ₹1 lakh crore investment and create 50,000 jobs.
- Special Recognition Award went to Arvind Chhotalal Parikh.
- Lifetime Achievement Award honoured Vallabhbhai Patel of Kiran Gems.
India’s gem and jewellery industry brought together the country’s top political leadership and industry stalwarts at the 52nd India Gems & Jewellery Awards (IGJA), where the Gem & Jewellery Export Promotion Council (GJEPC) unveiled an ambitious roadmap to take India’s gem and jewellery exports to US$100 billion by 2040, aligned with the national vision of Viksit Bharat 2047.
The landmark ceremony was graced by Shri Amit Shah, Hon’ble Union Minister of Home Affairs and Minister of Cooperation, alongside Maharashtra Chief Minister Shri Devendra Fadnavis, Deputy Chief Minister Shri Eknath Shinde, and Gujarat Deputy Chief Minister Shri Harsh Sanghavi, underscoring the growing strategic importance of the sector to India’s exports, manufacturing, employment and global trade ambitions.
Held with the support of World Gold Council (Gold Partner), GIA (Powered By Partner), Vaibhav Global Limited, Kiran Gems, Ferrari Logistics, Dhanera Diamonds and Aigiri Jewels, the evening celebrated excellence across the breadth of India’s gem and jewellery industry while highlighting the sector’s next phase of growth.
Amit Shah: India Must Think Beyond Speed and Focus on Scale
Delivering the keynote address, Shri Amit Shah outlined a vision for India’s next phase of leadership in the global gems and jewellery sector, emphasising scale, branding and the complete value chain.
“India has the infrastructure, capital, capability and entrepreneurs to become the world’s gems and jewellery hub. As the diamond trade evolves, the time has come to think beyond speed and focus on scale. Lab-grown diamonds present a major opportunity. India must build the entire value chain, from manufacturing and technology to jewellery, branding and retail, and develop Indian brands with a global presence. The Government of India, along with the governments of Maharashtra and Gujarat, is ready to provide the support required. I see a very bright future for this industry, and the time has come for India to emerge as a global leader in diamonds and jewellery.”
His address positioned India’s gems and jewellery industry not only as an export powerhouse but as a future global centre for technology, branding and manufacturing excellence.
Watch Full Address: Watch Shri Amit Shah’s complete address to the gems and jewellery industry during the 52nd India Gems & Jewellery Awards on JewelBharat’s YouTube channel.
Maharashtra Highlights Industry’s Economic Contribution
Maharashtra Chief Minister Shri Devendra Fadnavis reaffirmed the state’s commitment to strengthening the sector through policy and infrastructure, highlighting Mumbai’s central role in India’s exports and the upcoming India Jewellery Park in Navi Mumbai.
“India’s gems and jewellery industry makes a significant contribution to the country’s exports and economic growth, with Maharashtra and Mumbai playing a leading role. The ecosystem created here, particularly at Bharat Diamond Bourse, has brought together traders, artisans and employees as one large industry family. Our aim is to support this industry through the state’s policies and infrastructure. The new jewellery policy introduced in 2025 includes provisions to strengthen the sector, recognising its contribution to both the economy and employment. We are also developing a modern jewellery ecosystem in Navi Mumbai, with the potential to attract ₹1 lakh crore in investment and generate 50,000 jobs.”
Eknath Shinde: Industry Has a Vital Role in Viksit Bharat
Deputy Chief Minister Shri Eknath Shinde highlighted the sector’s employment footprint and its importance to India’s long-term economic vision.
“More than 50 lakh people are engaged in the sector across the country, and the industry has established India as a strong player in global trade, with Maharashtra and Mumbai accounting for more than 50% of the country’s total gem and jewellery exports. The Bharat Diamond Bourse in Mumbai is a major global centre for diamond trade. As India moves towards the vision of becoming a Viksit Bharat by 2047, the gem and jewellery industry has a very important role to play. I am confident that our industry members will continue to work hard, take the sector to greater heights and contribute even more to India’s growth story.”
GJEPC’s US$100 Billion Vision
GJEPC Chairman Shri Kirit Bhansali described the industry’s resilience despite recent global challenges and outlined how design, innovation and value addition will shape the next chapter of India’s growth story.
“Over the past four to five years, the gems and jewellery industry has faced significant challenges, from geopolitical tensions and tariff pressures to softer demand in key markets. Yet the industry has responded by exploring new markets, adopting technology and increasing value addition. The resilience of India’s gems and jewellery exports is a testament to that commitment.
The partnership between the Government and industry has been critical. Policy measures, new trade agreements and support for emerging sectors such as lab-grown diamonds are creating new opportunities and strengthening India’s position in global markets.
Our next chapter must focus on design, innovation and value addition, using India’s strengths in traditional craftsmanship and technology to build globally recognised brands. The upcoming India Jewellery Park in Navi Mumbai and other industry initiatives will further strengthen this ecosystem.
For us, growth is about more than trade. The true strength of this industry lies in its commitment to giving back to society. As we look towards a developed India, we must work together to take Indian gems and jewellery to a larger global audience.”
Government Reforms Creating New Opportunities
Speaking at the ceremony, GJEPC Convener (Events) Shri Mansukh Kothari credited government reforms for opening new opportunities for the industry.
“India has taken historic strides under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi ji, strengthening the nation and inspiring confidence across the world. For the gem and jewellery industry, the Government’s progressive policies and reforms have opened new opportunities, enabling us to compete more strongly in global markets.
We remain committed to contributing to the vision of a Viksit Bharat by 2047 and taking India’s gem and jewellery sector to even greater heights.”
Industry Resilience and the Road Ahead
The awards came at a significant moment for the industry. Despite global macroeconomic uncertainty and geopolitical challenges, India’s gem and jewellery exports recorded US$27.72 billion in FY 2025–26, broadly maintaining previous-year levels through market diversification, free trade agreements and greater value addition.
Building on this foundation, GJEPC’s US$100 billion export vision by 2040 represents a broader transformation—from India’s traditional strength as a manufacturing base towards becoming a global hub for design, innovation, luxury, technology and international trade.
Celebrating Excellence Across the Industry
The 52nd India Gems & Jewellery Awards recognised excellence across exports, manufacturing, employment, CSR, innovation, branding, banking support and entrepreneurship, celebrating individuals and companies that continue strengthening India’s position in the global gem and jewellery ecosystem.
Special Recognition Award
Shri Arvind Chhotalal Parikh, Partner, Crystal Diamonds, received the Special Recognition Award for more than seven decades of contribution and service to the diamond industry.
Lifetime Achievement Award
Shri Vallabhbhai Patel, Founder of Kiran Gems, received the Lifetime Achievement Award in recognition of his entrepreneurial journey, business achievements, resilience and contribution to both society and the gem and jewellery industry.
The evening concluded as a powerful reflection of an industry determined to strengthen exports, encourage innovation, generate employment and reinforce India’s position as a globally competitive gems and jewellery powerhouse on its journey towards Viksit Bharat 2047.
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