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Let us continue to harness our collective strengths, seize emerging opportunities, and embrace change with enthusiasm.

Let us uphold our legacy of craftsmanship and integrity, and propel the industry towards unparalleled success – Vipul Shah

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The Indian gem and jewellery sector is a force to reckon with in the international GJ market. GJEPC has been the apex body driving India’s export-led growth in the gem and jewellery sector since 1966.Vipul Shah, Chairman GJEPC speaks to JewelBuzz on the initiatives, strategies for growth of the GJ industry, impact of geopolitical crisis on GJ sector and government policies and regulatory frameworks aiding the growth of Indian GJ sector.

Take us through the GJEPC roadmap for the year 2024—events and initiatives, strategies for growth of the GJ industry.

GJEPC is focused on growing India’s share of the global gem and jewellery pie. The Council also has a dual focus of driving export growth and creating job opportunities in the industry. Despite challenges faced in 2023, the industry is optimistic for the year 2024.

Efforts are directed towards sustaining and increasing exports to major markets like the USA, Hong Kong, and UAE. Additionally, the industry is exploring new markets such as the UK, Italy, France, Latin America, and Cambodia among many others.

Marketing efforts will be intensified to promote Indian gems and jewellery globally. This includes organising the IIJS, the India International Gem & Jewellery Show (IGJS) in Dubai and Jaipur, actively participating in major international gem and jewellery exhibitions; and facilitating product-specific and market-specific Buyer Seller Meets.

There is also a focus on investing in technology and innovation to enhance productivity, efficiency, and competitiveness. GJEPC, in collaboration with the Ministry of Commerce & Industry and SEEPZ, has launched a Mega Common Facility Center in SEEPZ Mumbai. This initiative aims to increase manufacturing capacities, drive technological advancements, and provide extensive skill development opportunities. Importantly, the services offered will benefit both SEEPZ and Domestic Tariff Area (DTA) units, reflecting inclusivity and industry-wide progress.

The geopolitical crisis and G7 sanctions banning Russian diamonds are major concerns. What is the impact on Indian diamond industry with the manufacturing sector affected drastically with shortage of rough diamonds?

The G7/EU has considered March 1st to August 31st as the “Sunrise Period.” During this phase, the US has opted for self-certification for import shipment clearance, while the EU provides two alternatives: G7 certification and a documentary evidence-based system, facilitating Indian trade in importing goods directly to India using the documentary evidence option. Certain countries allow Mixed Origin relaxation, subject to documentary evidence. The UK has provided clarification on Grandfathering diamonds movement and the necessary procedures. As of March 1, 2024, the immediate impact of G7 sanctions appears relatively manageable, with the industry adjusting to uphold support documents, coordinate two supply chains, and comprehend country-specific requirements for legal compliance. While it is still early, being only 3 weeks into the sanctions, inquiries and feedback from members are being actively received and assessed to gain a comprehensive understanding of the situation.

How are government policies and regulatory frameworks aiding the growth of Indian GJ sector?

Based on its potential for growth and value addition, the Government of India has declared the Gems and Jewellery sector as a focus area for export promotion. Over the years, through trade-friendly policies, the government has facilitated a remarkable surge in gem and jewellery exports, which now stand at USD 40 billion.

The recent Free Trade Agreements with key partners such as the UAE, Australia, and the European Free Trade Association (EFTA) countries—Switzerland, Iceland, Norway, and Liechtenstein—hold substantial promise for further boosting Indian gem and jewellery exports.

However, to enhance the industry’s competitiveness in global markets and ensure sustainable development, several measures have been proposed to the government:

  • Safe harbour rule for sale of rough diamonds in Special Notified Zones (SNZs)
  • Introduction of Diamond Imprest License and reduction in import duty on cut & polished diamonds to 2.5%
  • Reduction in import duty on gold/silver/platinum bars to 4%
  • Introduction of a mechanism like “Rates & Taxes Refund” through EDI system similar to GST refund.

Despite the various challenges there is always a positive spirit. What is your message to the GJ industry?

Despite facing challenges, the Indian gem and jewellery industry has always shown resilience, relying on its renowned craftsmanship and skills recognized worldwide.

Understanding its inherent strengths, the industry perceives setbacks as temporary hurdles, consistently striving for improvement by integrating the latest technologies. Today, it stands capable of meeting the diverse demands of global markets.

My message to the GJ industry is simple: Let us continue to harness our collective strengths, seize emerging opportunities, and embrace change with enthusiasm. Together, we can navigate through any adversity, upholding our legacy of craftsmanship and integrity, and propel the industry towards unparalleled success.

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JB Insights

Silver Show Of India – SSI 4th Edition – A Definitive Report On Product Offerings & Brand Showcases

A Celebration Of Silver Excellence: Showcasing Innovation, Heritage Craftsmanship, Luxury Design, and Emerging Trends Across India’s Silver Industry

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The Silver Showcase India 4th Edition in Mumbai became the stage for an extraordinary convergence of heritage artistry, technological innovation, and contemporary luxury. From floating idols to regal woven gowns, the breadth of India’s silver craftsmanship was on breathtaking display.

CATEGORY

Jewellery & Wearables

Anmol Silver
HERITAGE ARTISTRY

Anmol Silver debuted its Rudra Series, a deeply reverent collection drawing from the wellspring of traditional Indian artistry. Each piece embodies the spiritual weight of heritage craftsmanship, rendered in silver with meticulous attention to iconographic detail and surface treatment. 

Navkar Sterling Silver
SHELL & SILVER COLLECTION

Navkar unveiled the Shell & Silver Collection — a graceful marriage of sterling silver with the lustrous iridescence of mother-of-pearl. Accented with rubies and emeralds, the range strikes a confident balance between organic texture and gemstone brilliance. 

MJR Silver
MASTERPIECE JEWELLERY

MJR Silver commanded attention with a magnificent oversized haaram emblazoned with the iconic MJR logo — a tour de force weaving together kundan setting, delicate paper casting, modern electroforming, and soulful hand nakashi work in a single statement piece. 

Ricchezza
MEN’S RPT COLLECTION

Ricchezza showcased its Hollow Men’s RPT Jewellery line — kadas, bracelets, and neckwear crafted to redefine masculine silver adornment. The hollow construction delivers substantial visual presence with refined, everyday wearability. 

Lavira by Tirupati Gems
LADIES’ LIFESTYLE JEWELLERY

Lavira presented intricately crafted ladies’ handbags in 925 silver alongside handcuffs, haath phools, bangles, and rings, all in 925 silver with luxurious gold plating, adorned with vibrant colour stones and delicate floral motifs that celebrate contemporary elegance. 

Silverio Artesa
BROOCHES & STATEMENT NECKLACES

A striking collection of men’s brooches featuring regal elephant, lion, and other motifs blends bold symbolism with refined craft. The brand also unveiled an avant-garde CZ and colour-stone necklace, and a rose gold–finished enamel creation in a vivid palette. 

Shree Omkar Jewellers
925 SILVER STATEMENT NECKLACES

Three distinct necklaces define the showcase: a gold-polished Pachi work piece; a magnificent Nakshi necklace with a central Goddess Lakshmi motif; and a dazzling diamond-finish creation with emerald accents and lustrous rhodium polish — each a tour of India’s royal jewellery traditions.

Tanvi & Co.
HERITAGE COLLECTION

The Heritage Collection necklace in 925 sterling silver with premium rhodium plating features beautifully detailed elephant and floral motifs delicately accented with pearls — a celebration of cultural heritage in which every intricate detail reflects precision and tradition. 

FEATURED MASTERPIECE

Riddhi Siddhi Gems & Jewellery — The Maharani Gown

The undisputed showstopper of SSI 4th Edition was the breathtaking Maharani Gown — an extraordinary fusion of silver and gold threads intricately woven with Navratna gemstones and lustrous pearls. Radiating regal energy through a vibrant multi-coloured palette, the gown was adorned by Nandini Gupta, Miss India 2023–24, elevating the creation into a luminous celebration of heritage luxury and contemporary grandeur. A masterwork at the intersection of jewellery art and haute couture.

CATEGORY

Devotional & Lifestyle

Purple Jewels

TULIP — ULTRA LIGHT IDOLS

Purple Jewels introduced TULIP — The Ultra Light Idols by Purple, showcasing technologically advanced 925 silver idols that set a new benchmark in detailing and finish. Masterpieces include the Sankatmochan Raj Gada and a Lord Balaji statue with an intricate arch.

Emerald Silver

INNOVATION MEETS DIVINITY

Emerald Silver presented EF Electromagnetic Levitation Floating Idols, Silver PRANA LITE paper-casting idols — a cost-effective alternative ideal for gifting and modern living — and Silver Feather Light EF Idols, together representing the rare convergence of innovation and devotional artistry.

Antariksh Jewellers
CHENNAI · TRADITIONAL POOJA SET

Antariksh Jewellers presented an exquisite traditional pooja set comprising a meticulously crafted pooja thali, samai, chambu, bell, udarni, kamachi valak, and aarti — a cohesive expression of ceremonial silver craft, each component purposeful, each surface speaking the language of devotional heritage. 

Antaraa Silver

LUXURY LIFESTYLE ACCESSORIES

Antaraa Silver drew appreciation from industry leaders with its exclusive range of premium silver accessories, luxury pens, and innovative lifestyle products — positioned at the crossroads of utility and luxury, signalling a maturing appetite for silver beyond jewellery and devotional ware. 

CATEGORY

Silver Artefacts & Home

Kraft Silver

EXTRAORDINARY SCULPTURAL DISPLAY

Kraft Silver commanded the floor with an extraordinary display of large-scale silver artefacts. A magnificent silver cow anchored the presentation as a centrepiece of devotional and artistic merit, while a silver sofa pushed the medium into unexpected lifestyle territory. A range of innovative decorative creations completed a showcase that challenged preconceptions about what silver craft can and should be — bold, confident, and expansive in ambition.

CATEGORY

Standout Individual Creations

Sukhraj
TRADITIONAL SATKA

A beautifully crafted traditional Satka (key holder) in silver celebrating Indian heritage. An elegant crescent moon motif with conical pendant is embellished with multi-hued colour stones, folk-art patterns, colourful beads, and shimmering gota patti accents — a striking fusion of artistry, colour, and tradition.

Silver Payal
FIVE-LAYERED ANKLET

A stunning silver payal crafted in an elegant five-layered structure, partially coated in gold and adorned with dazzling CZ and polki-inspired stones. The intricate detailing and harmonious blend of precious finishes transform this anklet into a true work of art, radiant and deeply rooted in South Asian jewellery tradition.

Silver Sindoor Dibbi
CEREMONIAL ACCESSORY

A beautifully crafted sindoor dibbi adorned with intricate geometric patterns and traditional shankh motifs. The elegantly designed lid is embellished with a striking dull orange onyx stone — a ceremonial object elevated to the level of heirloom through the precision of its making.

CATEGORY

Silver Gifting & Children’s Collections

MAA SILVER — Silver Start

TINY TREASURES. TIMELESS MEMORIES.

MAA Silver unveiled SILVER START, a thoughtfully curated gifting collection in 925 silver designed specifically for children. The range spans silver mugs, sippers, glasses, dinner sets, pacifiers, and medicine feeders — everyday essentials reimagined as cherished keepsakes. Each piece is embellished with popular cartoon characters and delightful motifs, combining the purity of silver with child-friendly design language. The collection is positioned as the ideal gifting solution for newborns, naming ceremonies, birthdays, and milestone celebrations.

House of Shah

EXCLUSIVE SILVER CREATIONS

House of Shah showcased its exclusive range of silver jewellery and innovative product offerings, with craftsmanship and design excellence at the forefront. The brand’s presentation affirmed its position as a destination for distinctive silver creation within India’s evolving luxury landscape.

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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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