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
From Gold to Experience: How Jewellery Retail Is Evolving into Lifestyle
Anil Jose, Managing Director, TT Devassy Jewellery
Changing consumer preferences are transforming jewellery retail, with experience-led showrooms, everyday wear and personal expression redefining how brands connect with customers
For generations, buying jewellery in India has been entangled with occasions. Weddings, festivals, anniversaries and family milestones have traditionally shaped when and why people purchase jewellery. Gold, in particular, has a unique place in Indian households, representing not just beauty but also security, tradition and long-term value.
That relationship remains strong. What is changing is the role jewellery plays in everyday life. Consumers are increasingly buying jewellery not only to mark an occasion, but also to express their personality, complement an outfit, celebrate a personal achievement or simply enjoy something they connect with.
For jewellery retailers, this represents a significant shift.
Jewellery Showroom as an Experience
The modern jewellery customer journey is becoming more experiential. A customer may discover a design on social media, explore collections online, compare options and then visit a store to experience the product in person. The showroom is therefore no longer simply a place to display products; it has become an important part of the brand experience.
This is also reflected in the expansion of organised jewellery retail in India. As per a research, jewellery’s share of organised retail leasing in India rose from 2% in 2019 to 8% in 2025, making it one of the country’s top three retail demand drivers. At the same time, larger, experience-led formats are gaining ground, with stores exceeding 8,000 sq. ft. accounting for half of jewellery retail leasing in 2025, compared with 14% in 2019.
The implication is simple: a jewellery store can no longer be just a place where products are displayed. It needs to be a place where customers discover, explore and connect with a brand.
From ownership to self-expression
Traditionally, jewellery was often purchased with a long-term perspective. It was an asset, an heirloom and something intended to be passed down through generations.
Those motivations remain important, but a new layer is emerging; personal expression. Younger customers are increasingly drawn to lightweight, versatile and contemporary pieces that can reflect their individual style and be worn across occasions.




Building a jewellery wardrobe
In many ways, jewellery is beginning to develop its own version of a wardrobe. There are traditional pieces for weddings and festivals, minimalist designs for everyday wear and statement pieces for celebrations.
This creates an opportunity for retailers to move beyond individual transactions and become part of more moments in a customer’s life. When jewellery becomes relevant to more occasions, it naturally becomes less occasional and more habitual.
Trust remains timeless
For all the changes in jewellery retail, one factor remains constant, trust.
Transparency in pricing, confidence in quality and dependable after-sales service continue to shape customer relationships. Today, that trust extends to every part of the brand experience, from digital communication to the showroom itself.
Jewellery has always been about more than gold and precious stones. It represents relationships, memories, celebrations and identity. What is changing is how frequently and personally consumers choose to express those emotions through jewellery.
The opportunity for retailers is to evolve from occasion-driven sellers into lifestyle brands; brands that understand how customers live, what they value and how jewellery fits into their everyday stories.
Gold may remain timeless. But the experience surrounding it is becoming the real differentiator.
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