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India surpasses Japan to become 4th largest economy at $4 tn; may soon surpass Germany to reach no.3

Rising incomes, burgeoning middle class expected to fuel domestic consumption of jewellery

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India has surpassed Japan to become the world’s fourth-largest economy, according to NITI Aayog CEO BVR Subrahmanyam, referencing IMF data. India is now a USD 4 trillion economy, trailing only the US, China, and Germany. India may soon surpass Germany and become the third-largest economy in the world in  another 2, 2.5 to 3 years according to Subrahmanyam.

This is good news for Indian GJ sector: Rising incomes, a burgeoning middle class, and a youthful population are expected to fuel domestic consumption of gold, diamonds, and other jewellery, especially for weddings and festivals—sectors that already account for a significant share of demand. As India’s economic status improves, jewellery will continue to be seen as both a status symbol and a form of financial security, further boosting local sales.

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GJEPC Urges Nation to Take Blood Donation Pledge on Jeweller’s Day to Support Life-Saving Cause

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National, 16 September 2025: The Gem & Jewellery Export Promotion Council (GJEPC) is calling upon every citizen to take a Blood Donation Pledge on Jeweller’s Day and actively participate in blood donation drives that will follow, in honour of the skilled craftsmen who are the backbone of India’s gem and jewellery industry.

This initiative reflects the industry’s deep commitment to social responsibility and the spirit of giving. By taking the pledge, participants commit to donating blood — a simple yet powerful act that can save countless lives and support India’s healthcare system, where blood shortages are an ongoing challenge.

Once the pledge is taken on 17th September, a nationwide blood donation drive will be organised across key hubs such as Mumbai, Surat, Jaipur, Kolkata, Chennai, Hyderabad, and more, in collaboration with leading hospitals and blood banks. Through this effort, GJEPC aims to mobilise thousands of donors from the trade and the public, making it one of the most impactful initiatives in the industry’s history.

Kirit bhansali

Kirit Bhansali, Chairman, GJEPC, appealing to jewellers and karigars, said:
“17th September also marks the Vishwakarma Jayanti, and commemorates the 75th birthday of our Hon’ble Prime Minister, Shri Narendra Modi. On this significant day, I appeal to all the citizens and jewellery community across the country to come forward, take the pledge, and donate blood for this noble cause. Together, let us honour our tradition of craftsmanship with an act of compassion that has the power to save countless lives.”

To participate, individuals must first register by clicking on the pledge link. Once registered, they can formally take the pledge anytime between 7:00 AM on 17th September and 7:00 AM on 18th September 2025 by entering their mobile number on the same link. This ensures every participant’s commitment is recorded and counted towards the nationwide movement. Individuals can also register and take the pledge on 17th September on the same link.

The Council’s aim is to unite thousands of people from the trade and the public in this noble cause, creating one of the largest collective pledges and blood donation initiatives ever. This symbolic yet impactful action will strengthen the legacy of Jeweller’s Day as not only a celebration of artisanship but also of compassion and humanity.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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