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
V.K. Jewels: Building trust through consistency, precision and customer-centricity
Industry leader in precision gold manufacturing, V.K. Jewels is renowned for pioneering “paper casting” technology. They specialize in CZ-studded gold jewellery that marries grand aesthetics with lightweight efficiency. By integrating AI-driven design and a robust B2B network, V.K. Jewels offers retailers a competitive edge through consistent quality and trend-forward innovation. Witness the journey of a brand built on trust and technological excellence.
The Beginning, Evolution, Milestones
V.K. Jewels was founded in 1993 in Rajkot by Vijay Kotak with limited resources but a strong vision — to bring quality craftsmanship, reliability, and trust to the jewellery manufacturing space. Starting with silver casting, the company gradually built trust through consistency, precision, and customer-centricity.
With Hiren Kotak entering the business, key milestones included the transition into CZ-studded gold jewellery, expansion into plain gold casting, adoption of lightweight and paper casting techniques, and building a strong B2B dealer network across India.
Today, V.K. Jewels stands as one of the biggest casting jewellery manufacturers in India, known for paper-casting jewellery, innovation, volume capability, and market responsiveness.
Early Challenges & Growth Strategy
In the early 90s, the jewellery market was highly competitive, fragmented, and dominated by traditional players. Limited capital and evolving market preferences posed challenges.
Visionary decisions such as focusing on manufacturing excellence, investing in modern casting technology, and building long-term dealer relationships helped V.K. Jewels scale rapidly. A strong emphasis on lightweight jewellery and consistent superior quality enabled the brand to differentiate itself and become one of India’s leading manufacturers.
Product Offering
Core Product Lines
V.K. Jewels offers a wide range of CZ-studded jewellery and plain gold casting jewellery, including rings, pendants, earrings, bangles, bracelets, chains, and bridal sets.
The collections cater to multiple segments — from mass-market daily wear to premium bridal and festive jewellery — enabling retailers and wholesalers to serve diverse customer needs efficiently.
Portfolio Expansion Beyond Silver
Starting from silver casting, V.K. Jewels expanded into gold casting and CZ jewellery to meet evolving consumer demands for affordability, design variety, and lighter weight.
The portfolio now supports both wholesale and corporate brands of India with ready-to-sell designs, fast-moving collections, and trend-driven styles suited for modern consumers.
Top-of-the-Line Products
Flagship Products – Strong Visual Appeal
V.K. Jewels’ lightweight CZ-studded necklaces, daily wear rings, and earrings are among its top performers. These products are preferred by high-end wholesalers, retailers, and corporates due to their excellent finishing, competitive pricing, fast inventory turnover, and strong visual appeal.
The use of paper casting ensures reduced gold weight without compromising on design aesthetics.
Bestseller Highlights
The bestselling categories include CZ-studded necklace sets and rings, known for their rich look, lightweight structure, and durability. Customers appreciate their premium finish, long-wear comfort, and excellent value proposition, making them a favourite choice for wedding and festive purchases.
Design Innovation & Quality
Ensuring Innovation & Quality
V.K. Jewels continuously invests in design research, CAD development, and market trend analysis. A dedicated design team works closely with production to ensure every piece meets modern style expectations while maintaining high manufacturing standards.
Rigorous quality checks at every stage ensure precision and durability.
Quality Assurance & Ethical Practices
The company follows strict quality control processes, including material verification, multi-stage inspections, and standardised finishing protocols.
Ethical sourcing and responsible manufacturing practices reinforce brilliance, durability, and trust.
Network of Wholesalers & Retailers
Distribution Network
V.K. Jewels has built a strong nationwide distribution network with wholesalers, retailers, and corporate brands across major jewellery hubs.
Supporting the Network Amid Rising Gold Prices
With rising gold prices, V.K. Jewels supports partners through lightweight designs, paper casting innovations, competitive pricing, faster stock rotation, and consistent supply.
This enables retailers to maintain margins while offering attractive, high-demand products.
Plans for Growth & Expansion
Short-Term & Long-Term Strategies
Short-term plans include expanding the dealer network and introducing new trend-aligned collections.
Long-term strategies focus on scaling exports, entering international markets, expanding product categories, and strengthening global brand visibility.
Scaling Manufacturing Capacity
The company is investing in expanded infrastructure, modern machinery, and skilled manpower to enhance production capacity while maintaining quality and timely delivery.
Continuous process optimisation ensures scalability without compromising craftsmanship.
Technology, AI & Automation Integration
V.K. Jewels integrates advanced CAD/CAM technologies, automation in casting and finishing, and digital quality control systems.
The adoption of AI-driven design analysis, demand forecasting, and production planning tools enhances efficiency, accuracy, and operational optimisation.
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