JB Insights
GJEPC’s 51st India Gem & Jewellery Awards held in Jaipur
Presiding Guest Gautam Adani says technology & sustainability are twin pillars of our future
Shri 24 awards presented at IGJA 2023-24
The Gem & Jewellery Export Promotion Council (GJEPC) presented the coveted 51st India Gem & Jewellery Awards (IGJA) held in Jaipur, honouring the leading exporters of the gems & jewellery industry. GJEPC presented a total of 24 IGJ Awards: 14 – Industry Performance Awards; 7- Special Recognition Awards; 2 – Felicitation Awards; and 1- Bank supporting the Gems & Jewellery Industry Awards. Pramod Agrawal (Chairman, Derewala Industries Ltd) wins the Lifetime Achievement Award
Business tycoon Shri Gautam Adani (Chairman, Adani Group) graced GJEPC’s 51st edition of the IGJ Awards as Presiding Guest. Representing GJEPC were Shri Vipul Shah, Chairman, GJEPC; Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Nirmal Bardiya, Regional Chairman, Rajasthan, GJEPC; Shri Sabyasachi Ray, ED, GJEPC, and Shri Sachin Jain, Regional CEO – India, World Gold Council and Shri Gopal Kumar, Director and General Manager, Gemfields India Pvt. Ltd was also present along with the who’s who and doyens of India’s gem & jewellery industry.
While addressing a packed hall of diamond, gem and jewellery trade, Shri Gautam Adani, Chairman, Adani Group, said, “Technology and sustainability are the twin pillars of our future. As we embrace the digital age, let’s ensure our growth is both innovative and responsible. Empowering and uplifting our skilled artisans and craftsmen with digital tools will propel our jewellery heritage to new heights. Ultimately, our youth are the architects of tomorrow. Let’s nurture their potential, and create an India that shines brightly on the world stage.”
Adani further added, “Innovation and sustainability are not just trends but the foundation for the future of the gem and jewellery industry. From advanced manufacturing techniques to smart wearables, technology is revolutionizing the jewellery industry, offering endless opportunities for customisation and connection. The gem and jewellery industry must embrace change, challenge the status quo, and adapt to evolving consumer needs to remain a global leader.”
Shri Vipul Shah, Chairman, GJEPC addressing the audience said, “Think big, innovate relentlessly, and embrace technology—the future of India’s gem and jewellery industry is brighter than ever. With robust retail growth, projects like the India Jewellery Park in Mumbai, Jaipur’s Gem Bourse, and the Bharat Ratnam Mega CFC are transforming the landscape. Supported by visionary government policies and FTAs, our industry is poised to scale new heights. Together, we can position India as a global leader in gems and jewellery, setting benchmarks for innovation, excellence, and sustainability.”
The selection criteria this year included export performance, value addition, employment generation and investment in R&D among other parameters. In recognition of the business excellence demonstrated by companies that are helping to strengthen ‘Brand India’, GJEPC not only felicitate industry players for their exemplary performance, but also recognizes entities such as banks which play a key role in the growth of the sector.
IGJA has evolved over the years to embrace new categories, including social responsibility, innovation, and entrepreneurship, reflecting the dynamic nature of our industry.
JB Insights
Jewellers Expect Healthy Festive and Wedding Demand Amid Evolving Consumer Preferences
India’s jewellery industry is entering the festive and wedding season with cautious optimism, supported by positive consumer sentiment, relatively stable bullion prices and sustained demand for wedding-led purchases.
India’s jewellery industry is entering the festive and wedding season with cautious optimism, supported by positive consumer sentiment, relatively stable bullion prices and sustained demand for wedding-led purchases. While elevated gold prices are influencing buying behaviour, jewellers expect lightweight designs, contemporary styling, natural diamonds and innovative bridal collections to drive sales.
Vinay Bamalwa, Director, Nemichand Bamalwa and Sons, said consumer sentiment remains positive, with gold prices staying range-bound over the past three to four months. Sentiment towards natural diamonds has also improved over the last 12–18 months. The company’s 2026–27 Eden bridal collection has received an encouraging response, reinforcing expectations for the season.
Anil Kataria, Director, DP Abhushan Ltd., see favourable conditions for jewellery sales. He cited positive consumer sentiment and conducive gold and silver prices as encouraging factors. We see a positive sentiment in consumers, and foresee healthy sales in the festive season. We are optimistic we will meet our targets this festive season.
Vaibhav Saraf, Director, Aisshpra Gems & Jewels, expects healthy festive and wedding demand despite elevated gold prices, noting that customers are becoming more thoughtful and value-conscious. Lightweight, versatile jewellery is gaining preference, while bridal buyers increasingly seek statement pieces offering multiple styling options. The company has introduced Navni, a diamond bridal collection featuring innovative 9-in-1 jewellery designs, alongside contemporary and everyday-wear offerings.
Vastupal Ranka, Director, Ranka Jewellers, said current gold and silver prices are creating a favourable backdrop for jewellery sales. “We are seeing strong consumer sentiment and anticipate healthy demand leading into the festive season. While volume may see a slight dip, we remain confident that customers will continue to buy with optimism,” he said.
Darshan Chauhan, Whole-time Director, Sky Gold & Diamonds Ltd., expects wedding-led consumption, cultural traditions and demand for design-led, value-conscious jewellery to support the season. He highlighted the importance of inventory efficiency, faster stock rotation, consistent quality and market-relevant designs in helping retailers capture seasonal opportunities.
Vijay Pokharna, Founder, Pure Platinum Jewellery Pvt. Ltd., expects platinum jewellery to gain momentum as consumers increasingly favour premium, contemporary and meaningful purchases. Beyond traditional occasions, everyday luxury and self-purchase—particularly among younger consumers—present significant growth opportunities. He emphasised that innovation, accessible products, compelling designs and greater consumer awareness will be crucial to expanding the category.
Overall, industry leaders expect a healthy festive and wedding season, with success increasingly dependent on design innovation, value perception, product differentiation and efficient inventory management. Rather than signalling a retreat in jewellery demand, changing consumer preferences are creating opportunities for brands and retailers to broaden their offerings and strengthen customer engagement.
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