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InnovNXT FORTY UNDER 40 :GJ industry leaders provide compelling insights for shaping a brighter tomorrow

The Gem & Jewellery Export Promotion Council (GJEPC), India’s apex trade body sponsored by the Union Ministry of Commerce & Industry, showcased the future of India’s gem and jewellery industry, which came alive at the launch of InnovNXT 40 Under 40 in Mumbai on 25th June 2025. This a dynamic initiative by the Gem & Jewellery Export Promotion Council (GJEPC), the apex body for the gem and Jewellery industry in India, aimed at recognising and empowering its next generation of leaders. With the World Gold Council as Presenting Partner, Godrej as Associate Partner, and DSP Mutual Fund as Co-Partner, the event brought together trailblazers, changemakers, and thinkers under one roof for a day of insight, inspiration, and exchange.
The InnovNXT 40 Under 40 conference features a power-packed agenda that keeps the momentum going throughout the day. Sessions explore a wide range of topics — from the strategic journey of IPOs and wealth creation, to the growing influence of women in the jewellery sector. Discussions dive into pressing themes like the surge in gold prices, building a lab-grown diamond brand, and scaling tech businesses with a bootstrapped mindset. With each panel offering fresh perspectives and actionable insights, the event creates an environment that is both thought-provoking and energising for the next generation of industry leaders.
InnovNXT 40 Under 40 was inaugurated by Aditi Sunil Tatkare, Hon’ble Minister for Women and Child Development, Government of Maharashtra, along with Kirit Bhansali, Chairman, GJEPC; Khushboo Ranawat, Regional Chairman (WR), GJEPC; Sachin Jain, Regional CEO – India, World Gold Council; and Nirav Bhansali, Convener – National Exhibitions, GJEPC, in the presence of distinguished industry leaders and participants.
The Chief Guest, Aditi Sunil Tatkare, Hon’ble Minister for Women and Child Development, Government of Maharashtra, applauded the 40 Under 40 initiative.

Aditi Tatkare said, “I truly commend GJEPC for envisioning and organising the 40 Under 40 conference — it reflects foresight and deep commitment to nurturing the next generation. Every era brings innovation, but it’s equally important to honour tradition. Young leaders must carry forward their legacy with honesty and fresh ideas. Events like this are not just celebrations, but platforms of growth, dialogue, and responsibility.”
Govind Dholakia, Hon’ble Member of Parliament (Rajya Sabha), joined virtually with a heartfelt video message that reflected on the importance of values-led leadership and resilience.
Mr. Dholakia noted, “For the youngsters here, InnovNXT isn’t just a platform — it’s an opportunity. A space to share bold, exciting ideas and learn from one another. If you’ve inherited a business legacy, nurture it with passion. It’s your responsibility to carry it forward with care and vision. Also, many diamantaires are actively involved in impactful CSR initiatives — showing that success isn’t just about business growth, but also about giving back. Because real progress begins when we tackle real problems. If you are in the comfort zone, you will not progress.”

Delivering the welcome address, Kirit Bhansali, Chairman, GJEPC, praised the ambition and energy of the young leaders in the room.

Kirit Bhansali said, “You are not only the future; you are already the architects of change. In an industry shaped by tradition, it’s your fresh thinking, your values, and your willingness to embrace innovation that will define what comes next. Sustainability, transparency, and ethical business are no longer optional—they are essential. As we navigate a rapidly evolving global market, it’s your energy and ideas that will keep India at the forefront.”
Nirav Bhansali, Convener – National Exhibitions, GJEPC, set the context with an engaging and relatable message to the audience. “InnovNXT isn’t just another seminar—it’s a signal that the industry is ready for something new. You’re not here to follow an existing path, but to shape a new one. The next decade belongs to those who challenge, question, and reimagine. Whether it’s AI in design or circular economy models, the pace of change is real—and you are leading it. So be present, be curious, be bold. This platform is your launchpad. Because the future will not wait—and neither should you.”

Additional points
Session 1
From brand building to wealth creation: The strategic IPO journey
Saurabh Gadgil, CMD, PNG Jewellers
Tehmasp Printer, MD, IGI (International Gemological Institute)
Ashish Shankar, CEO, Motilal Oswal
Moderated by Anisha Jain
Key pointers
The market is always ready for a growth story. You need to have a differentiated story. It should reflect a sense of purpose
IPO is a question of personal choice. It cannot be an overnight decision. Strategy plays a key role, alongside the entire process of money raising
You could go regional. Start from your native state and expand, keeping in mind the cultural connotations.
There is no preset template related to strategy. The entire process is a continuous, ever-evolving process. It is based on the people, management, brand identity and positioning.
Considering the industry, a very important and commonly raised issue is the debate between earth mined and lab grown diamonds.
For any company, there should be a balance between short term and long term growth objectives. It is a process of sustained brainstorming.
For any IPO, a clear thought process and a thorough grasp on the financials of a company- these are the absolute essentials.
In times of uncertainty and crisis, one should stick to asset allocation. For companies, a good strong ERP system is an absolute necessity.
Integrity takes you the long way.
Session 2
Women in jewellery: Breaking Barriers Breaking Legacy
Khushboo Ranawat, Director, Swarnshilp Chains & Jewellers
Richa Singh, MD – India & ME, National Diamond Council
Varuna Jani, Founder & Creative Head, Varuna D Jani Fine Jewellery
Session 2:
Women have had opinions for a very long time. What has changed is the platform to articulate them.
A woman, with her keen observation skills and intuition, is perfect for the jewellery business. She knows what the consumer wants.
It is this intuition which is the driving force behind designing jewellery
Rules of empowerment: Embracing the change and believing in yourself helps in the long run, says Khushboo. For Richa, asking what you want is crucial. Combine these with empathy, says Varuna, and you have an empowered woman who is on a mission to empower others as well.
Branded jewellery is not a major challenge to the existing jewellery industry in India. Any piece of branded jewellery has a higher potential to be worn on a daily basis. The only way for such brands to gain access to the indigenous jewellery market is through carefully planned and considered collaborations with Indian jewellery designers.
A key part of surviving the jewellery market is to work with the ecosystem. We cannot shorten the working hours of the artisans because we have to maintain the same prices. At the same time, the price of raw materials are increasing.
What becomes a key area of focus is the process of balancing price and cost of manufacturing with a positive work lifestyle and environment.
It is not so easy to replace the jewellery industry. The value in this industry is long term. For this year, we are planning to share facts and be more transparent. Being objective and showing the facts is far more important than sharing our opinion. The customer needs facts, which in turn enhances our credibility
As women in business, the question of balancing work and personal life is a universal one. Behind every successful working woman is a strong support system – be it her family, friends or someone who sees her potential first and not her gender
Session 3
Gold as a safe haven: Decoding the current price rise
Sachin Jain, Regional CEO India, World Gold Council
K. Srinivasan, CMD, Emerald Group
Darpan Anand, MD, Punjab Jewellers
Shekhar Bhandari, President & Business Head, SME Banking, Kotak Mahindra Bank
Sabyasachi Ray, ED, GJEPC
GJEPC Contributing to the golden path of India
– Project Swarnim Udaan 2047 inline with Viksit Bharat 2047
– Project Highway (four pillars) gold ETF market, SRO-IAGES
– Developing 1st innovation centre of gold jewellery biz in India
Key pointers
Gold is an investment for tomorrow, one should keep on investing in commodities like gold, we are coming up with new investing ideas. Further, India requires innovation in the designing gold jewellery as this gen is not buying gold they are buying what suits them. Also, gold is not only used in jewellery it has multi-dimensional uses from modern tech instruments to curing someone from certain diseases.
We have seen a lot of ups and downs, in prices in demand I can tell you that gold is a long term story as our ancestors believed to secure the future of their generations by gifting them precious metals like gold at any good occasion, we should follow this as it helps to accumulate something precious, which will help in the long run.
In our 20s we don’t spend like this gen, this gen spend on consumables this for them gold Is less important jewellery is more important. Thus, Spends will increase once basic needs like roti-kapda-makan is getting fulfilled. So if the right product at the right time is given the Indians will buy.

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IIJS Premiere 2025 ends on a successful note; transforms GJ sector into a thriving, high-energy marketplace
Estimated that business worth between Rs. 70,000 crore -Rs. 90,000 crore was transacted during the six-day show

IIJS Premiere 2025 ended on a successful note, pumping positivity and enthusiasm into the GJ sector.A three-month sales drought was swept away by a flood of orders at IIJS Premiere 2025. In just two to three days, exhibitors turned a sluggish, no-buying season into a thriving, high-energy marketplace. It is estimated that business worth between Rs. 70,000 crore and Rs. 90,000 crore was transacted during the six-day show, beating its previous record by over 40% to 50%.
A massive buyer of 55,000 unique visitor footfalls, including 2,500 international buyers, led to record-breaking sales. Exhibitors reported full-house bookings across categories, with jewellery flying off the shelves from Day 1. The energy was electric, the demand unstoppable — proving once again that IIJS Premiere is where the industry comes to buy, not just browse.
The 41st edition of the India International Jewellery Show (IIJS) Premiere 2025 got off to a spectacular start on 30th July at the Jio World Convention Centre (JWCC), Mumbai. Organised by GJEPC, the event was graced by Chief Guest Rahul Narwekar, Hon’ble Speaker of the Maharashtra Legislative Assembly, along with Guests of Honour Pavel Marinychev, CEO of Alrosa, and Ajoy Chawla, CEO – Jewellery Division, Titan Company Ltd. IIJS Premiere 2025 was inaugurated at Bombay Exhibition Centre – NESCO, Mumbai by Chief Guest Mangal Prabhat Lodha, Minister for Skill Development, Employment, Entrepreneurship and Innovation, Govt of Maharashtra in the presence of Guest of Honour Abdul Salam, Vice Chairman, Malabar Group. Present at both the inaugurations were Kirit Bhansali, Chairman- GJEPC, Shaunak Parikh, Vice Chairman, GJEPC; Nirav Bhansali, Convener, National Exhibitions, GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.
The grand inauguration ceremonies brought together industry stalwarts, government dignitaries, and international partners, signalling the beginning of what promises to be one of the most impactful trade shows of the year.
Packed aisles at both the venues – JWCC and BEC – prove that IIJS Premiere is the unrivalled show of the gem and jewellery industry.The Select Club returned with 118 exhibitors and a vivid curation of high-end jewellery — where bold design, coloured gems, and global sensibilities took centre stage.
Large carat gemstones and diamonds were the heroes of many pieces, while textures metals gained prominence. Gem-setting and custom-cut gemstones were another area that many exhibitors relied on, to support the narrative of the thematic collections. Other categories that were in vogue were two- and three-finger rings, designer ear cuffs, and palm cuffs, and of course, the trending labubu (toy monster elves) accessories in diamonds and gemstones.\
Exhibitors at IIJS Premiere have made a striking statement by unveiling 24-karat gold collections, right when much of the world is leaning towards lower-karat gold. This move reaffirms two things: first, gold’s status as a trusted store of value remains unshaken; and second, our exceptional manufacturers continue to read the consumer pulse with precision. Sky Gold and Diamonds , Shringar House of Mangalsutra Ltd., Kama Jewelry, Kanakratna Exim Pvt. Ltd launched 24k collections.
Fine jewellery embellished with a spectrum of gem hues was also trending; all their three categories – bridal, 18-karat gold oxidised gold collections, and an international line – were performing very well.
Silver, now often called the new gold, was priced at ₹1.20 lakh per kilo and drew strong demand at the show. Exhibitors reported exceptional interest in silver jewellery, accessories, and festive items, with many new companies and individuals exploring silver retail ventures. They emphasised the need for greater focus on silver and increased exhibition space at the IIJS Premier Show, as the current allocation limits its potential. Participants also noted growing demand from Tier II and Tier III towns, with buyers showing more trust in silver for gifting items, utility products, and home accessories. Due to limited booth space, only a small portion of available products could be displayed.
IIJS Premiere 2025 served as a platform for India’s jewellery sector to strengthen its global presence. GJEPC highlighted how new free trade agreements with countries like the UAE, Australia, and the UK are opening up new opportunities. Despite facing some challenges, such as new tariffs from the US, the IIJS Premiere 2025 demonstrated the resilience and adaptability of India’s gem and jewellery industry. The strong domestic demand and the proactive approach to global market expansion and sustainability indicate a positive outlook for the sector’s future.
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GJEPC’s Jewellers for Hope marks a decade of giving with impact and star power
Jewellers for Hope celebrated its 10th anniversary with a heartfelt evening featuring Anil Kapoor and a strong focus on compassion and community upliftment. With over ₹12 crore raised since inception, this year’s funds will support RK HIV AIDS Research and Care Centre and the Indian Army, as IIJS is renamed “IIJS Bharat

The 10th edition of Jewellers for Hope, the flagship charity fundraiser by the Gem & Jewellery Export Promotion Council (GJEPC), lit up Mumbai with compassion, commitment and a celebration of social impact. Held alongside IIJS Premiere 2025, the landmark edition brought together industry leaders, philanthropists, and dignitaries to honour a decade of meaningful giving.
Organised in partnership with De Beers Group and World Gold Council, powered by GIA, and co-partnered by HRD Antwerp, this milestone evening paid tribute to the transformative power of collective effort. Since its inception in 2014, Jewellers for Hope has contributed over ₹12 crore to 20 NGOs working across healthcare, education, women’s empowerment, and social welfare.
The funds raised this year will support the RK HIV AIDS Research and Care Centre, a beacon of humanitarian healthcare in India. With over 33,000 free medical camps conducted and more than 5 crore individuals reached across the country, its impact is both expansive and deeply transformative. Backed by a dedicated team of doctors — many of whom head departments in leading hospitals across 50+ Indian cities — the organization has delivered an extraordinary range of services: distributing over 37 lakh spectacles, 3.5 lakh wheelchairs, performing nearly 1 lakh surgeries, and offering more than ₹500 crore worth of free medicines to those in need.
Their commitment to reaching the unreached is powered by a fleet of 26 advanced cardiac ambulances and 14 mobile medical vans, which travel tirelessly to the most remote and underserved regions, including villages in West Bengal, Jharkhand, Maharashtra, and beyond — delivering not just medical aid, but also health education, preventive screenings, and hope.
A special announcement was also made about GJEPC’s recent approval to rename IIJS as IIJS Bharat — a move welcomed with pride by the industry. In honour of this national sentiment, a portion of the evening’s funds will also be contributed to the Indian Army, towards a meaningful project to be announced.
The evening’s emotional high point came with the appearance of Anil Kapoor, whose charisma and sincerity struck a chord with the audience. Known for his versatile performances and ageless appeal, Kapoor also carries a quiet legacy of giving back. Speaking about Jewellers for Hope, Anil Kapoor said, “It’s a real honour to be part of Jewellers for Hope 2025, a thoughtful initiative by the Gem & Jewellery Export Promotion Council that unites the gem and jewellery community for a greater good.
As an actor and storyteller, I’ve been incredibly lucky to receive the love and affection of people across India. I’ve always felt that with this love comes with a responsibility to give back, to support real change, and to stand by those who are quietly making a difference.
What I truly admire about Jewellers for Hope is how it makes purpose the main star. Behind all the razzle-dazzle, there is a sincere effort to support causes like healthcare, education, women’s empowerment, and social well-being.
Every act of service matters. Even the smallest effort can help spark hope in someone’s life. I’m genuinely grateful to be part of this journey and I applaud GJEPC for continuously championing those who are doing good work, often behind the scenes.
I hope this evening is a memorable one — an evening that celebrates not just beauty, but also compassion.”

In his opening address, Kirit Bhansali, Chairman of GJEPC, reflected on the journey: “Jewellers for Hope reflects the gem and jewellery industry’s enduring belief that business and benevolence go hand in hand. For decades, the industry has contributed not only in economic growth but in building a more inclusive and compassionate society—through education, healthcare, and disaster relief. As this initiative completes ten years, it underscores the industry’s deep sense of purpose and its ongoing commitment to social impact.”
Vivek Phansalkar, former Commissioner of Mumbai Police said, “It was a privilege to witness the spirit of service that defines the gem and jewellery industry. I commend the remarkable efforts of those in the trade who not only contribute significantly to India’s economy, but also to the greater social good. The ‘G’ in gems, I believe, also stands for generosity—and jewellery, in its truest form, brings joy. This industry has brought both generosity and joy into the lives of thousands, uplifting communities and setting a powerful example of responsible success.”


Shweta Harit, Senior Vice President, De Beers, said: “Moments like these aren’t just ceremonial—they carry real purpose. They create opportunities, they spark change. At De Beers, we’ve long believed that making a positive difference shouldn’t be treated as a side effort—it needs to be deeply woven into how we operate. It’s about fostering a culture where contributing to people and communities is simply part of what we do every day.”
Sachin Jain, Regional CEO India, World Gold Council said, “There’s something profound about coming together like this. Individually, we can all do good—but together, we can achieve something truly great. That, to me, is the spirit of this initiative. As an industry, we often speak of CSR, but it must go beyond charity or compliance. It should become a mindset—a way of thinking that shapes every decision we take. And more importantly, it should be sustained. Not just one year or ten, but year after year, as a shared responsibility.”


Sriram Natarajan, Managing Director, GIA India said, “GIA is proud to support Jewellers for Hope—an initiative that highlights the humanitarian side of our industry. It’s inspiring to see how platforms like this bring together purpose and partnership to drive meaningful impact. We commend the extraordinary work of the R.K. HIV AIDS Research and Care Centre, whose reach and compassion have touched millions of lives. Together, through shared commitment, we are building a more inclusive and hopeful future.”
Shaunak Parikh, Vice Chairman, GJEPC said, “Jewellers for Hope is a testament to the kind of change we can bring when we align purpose with passion. It reflects the compassionate side of our industry that often works quietly behind the scenes to bring hope, dignity, and opportunity to countless lives. As we mark 10 years of this incredible journey, it’s a moment to pause and reflect—not just on the funds raised, but on the futures rebuilt. I hope this milestone encourages many more members of our trade to step forward and carry the torch of giving. Because in every life we touch, we also uplift our own.”

The finale saw a heartfelt tribute to Mr. M.P. Ahammed, Chairman of Malabar Group, whose legacy of ethical business and philanthropy was celebrated through the unique “Dinner with an Icon” auction, with all proceeds benefiting a charity of his choice.
Launched in 2014, Jewellers for Hope is the altruistic initiative of the GJEPC, aimed at mobilizing the entire gem and jewellery industry – from manufacturers and traders to miners and retailers – to raise funds for commendable NGOs in various fields, including education, health, tribal welfare, women’s empowerment, and more. The Indian gem and jewellery export industry, directly employs over 5 million people and supports millions more indirectly. This massive trade network has a long-standing culture of charity, and Jewellers for Hope exemplifies this spirit of giving.
Over the years, the industry’s generous contributions to ‘Jewellers for Hope’ have left an indelible impact, having contributed crores to 20 NGOs, uplifting countless lives. In previous editions, ‘Jewellers for Hope’ has extended support to various NGOs, including Make A Wish Foundation, Swades Foundation, Friends of Tribal Society, Voluntary Action Association (run by Nobel Prize winner Kailash Satyarthi), Giants Welfare International (run by Social Activist Shaina NC), Bhagwan Mahaveer Viklang Sahayta Samiti or Jaipur Foot, Army Welfare, Tribal Integrated Development and Education Trust (TIDE), Shrimad Rajchandra Love and Care (SRLC), GJNRF, Live Love, Laugh Foundation and MIAM, Miam Charitable Trust.
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Jewellers For Hope dazzled with the presence of Anil Kapoor
Jewellers for Hope charity dinner by GJEPC at Jio World Convention Centre brought the gem & jewellery industry together, with Anil Kapoor lending star power to support RK HIV & AIDS Research and Care Centre.

The Jewellers for Hope charity dinner, hosted by GJEPC at the Jio World Convention Centre, brought together distinguished members of the gem and jewellery industry for a noble cause. The evening was graced by the presence of acclaimed actor and film producer Mr. Anil Kapoor adding star power to the heartfelt event. Proceeds from the dinner will be directed towards the RK HIV & AIDS Research and Care Centre. The event radiated warmth and generosity, with moments that beautifully reflected the spirited energy of the guests.
Anil Kapoor, Indian Actor and Film Producer dazzled on the stage of Jewellers for Hope, a GJEPC initiative dedicated to a noble cause. A spirited showman with a charming demeanour stole the spotlight from the time he walked into the room. The crowd sang and danced with him by their side and enjoyed the evening thoroughly.

Anil Kapoor , speaking at Jewellers for Hope, said “It’s a real honour to be part of Jewellers for Hope 2025, a thoughtful initiative by the Gem & Jewellery Export Promotion Council that unites the gem and jewellery community for a greater good. This year. I’m glad to be here representing R.K. HIV AIDS Research And Care Centre.
Every act of service matters. Even the smallest effort can help spark hope in someone’s life. I’m genuinely grateful to be part of this journey and I applaud GJEPC for continuously championing those who are doing good work, often behind the scenes.I hope this evening is a memorable one an evening that celebrates not just beauty, but also compassion.”
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