Mumbai International Airport is set to roll out hand-carriage jewellery export operations starting 1st May 2025, marking a major milestone for India’s gem and jewellery trade. The Central Board of Indirect Taxes and Customs (CBIC) formalised the procedure through Circular No. 09/2025-Customs dated 28th March 2025, enabling import/export via personal carriage.

A successful mock drill was conducted on 24th April 2025, with collaborative efforts from Bharat Diamond Bourse (BDB), BVC, Precious Cargo Customs Clearance Centre (PCCCC), Airport Customs, and GJEPC. The drill, overseen by Mr. Roopesh Sukumaran, Additional Commissioner of Customs, PCCCC, simulated a passenger export scenario with GJEPC Secretariat playing the role of the exporter.

GJEPC’s sustained advocacy has been instrumental in achieving this breakthrough. The upcoming advisory from DG Systems will pave the way for Mumbai Customs to issue the Standard Operating Procedure (SOP) for hand carry exports.

The initiative will benefit especially emerging exporters, offering them flexibility to personally carry jewellery to global markets. GJEPC has already set up a dedicated airport office to assist members with hand carry procedures.

India’s gems and jewellery market is poised for robust growth, projected to reach $128 billion by 2029, growing at a CAGR of 9.5%, according to 1Lattice’s latest report, Glimmers of Growth. This surge is driven by rising disposable incomes among the middle class, growing demand for certified and branded jewellery, and increased adoption of digital retail platforms. Gold continues to dominate the market, accounting for 86% of the overall share.

The report noted that government initiatives such as reductions in gold import duties and mandatory hallmarking have boosted consumer confidence and affordability. The rise of online retail, with virtual try-on tools and digital marketing strategies, is reshaping consumer engagement, especially among younger demographics.

Lab-grown diamonds (LGDs) have emerged as a key growth driver within the sector. The Indian LGD market is projected to reach $1.2 billion by 2033, growing at a CAGR of nearly 15%. Exports of LGDs have grown eightfold since FY21, and India now contributes around 15% of global LGD production, the report states. However, the lack of domestic HPHT machine fabrication presents an opportunity for investment to establish a full-fledged supply chain. LGDs are increasingly favoured for their affordability, ethical sourcing, and environmental benefits, aligning well with global ESG goals.

The report also maps major jewellery manufacturing clusters across India, including Surat, Mumbai, Jaipur, Thrissur, and Coimbatore, each specialising in distinct styles and techniques. Consumer preferences vary by region, age, gender, and spending behaviour, with a notable shift towards minimalistic, personalised, and sustainable jewellery.

Despite its promising outlook, the industry faces several challenges, including volatile gold prices, high labour costs, fragmented inventory systems, and the slow adoption of advanced retail technologies. Nonetheless, India’s position as a global leader in both natural and lab-grown diamond processing, supported by favourable policy frameworks and rising international demand, sets the stage for sustained growth, 1Lattice said.

To capitalise on this momentum, the report suggests that industry players should enhance transparency through certification, invest in technology, and tap into global trade opportunities while promoting jewellery as both a fashion statement and a long-term investment.

Rupesh Jain, the digital jewelry pioneer who built Candere into one of India’s most successful online fine jewelry platforms before its acquisition by Kalyan Jewellers, is returning to the spotlight with a bold new venture, Lucira. A modern lab-grown diamond jewelry brand, Lucira is built for today’s conscious, design-forward consumer and aims to transform the way people engage with fine jewelry.

Positioning itself as the unrivalled “Rings King,” Lucira focuses exclusively on celebrating proposals, weddings, anniversaries, and personal achievements with intentional design and ethical brilliance. Lucira is born out of a simple but powerful idea: that luxury can be meaningful, personal, and responsible. Inspired by the Latin word Lucent, meaning “to shine,” the brand represents purity, brilliance, and a commitment to illuminating life’s most cherished moments with jewelry that reflects values as much as beauty. Merging heritage craftsmanship with cutting-edge innovation, Lucira combines AI-led personalization, certified lab-grown diamonds, and a seamless digital-first experience to build trust and intimacy in an industry that has traditionally relied on opaqueness and excess.

The launch of Lucira comes at a time when lab-grown diamonds are reshaping the fine jewelry landscape, both in India and globally. These diamonds are physically, visually, and chemically identical to mined diamonds, offering the same brilliance and longevity—but at a significantly lower financial cost. Certified by IGI, GIA, SGL, and Hallmark, Lucira diamonds offer complete transparency and assurance of quality. Each piece is handcrafted by artisans who blend traditional techniques with contemporary elegance, creating jewelry that celebrates individuality and connection.

Currently available online with nationwide delivery, Lucira will soon debut its flagship experience stores in key metros, followed by an ambitious retail expansion across India and global markets. With a phased omnichannel growth strategy, the brand is poised to become India’s first global lab-grown diamond luxury house.

Rupesh Jain, Founder of Lucira said, “Our vision is to create a premium, design-led fine jewelry destination that begins online and extends into beautifully curated physical spaces. With AI-powered customization, virtual try-ons, and seamless e-commerce, we’re meeting customers where they are digitally native, value-conscious, and experience-driven. Our upcoming flagship stores will bring this vision to life, blending the ease of technology with the emotion of touch. As we expand across India and into global markets, our goal is simple: to make Lucira synonymous with modern luxury that’s personal, purposeful, and proudly Indian.”

Lucira is carving a niche in the fast-evolving bridal jewelry space, with a sharp focus on solitaires, bespoke engagement rings, eternity bands, and convertible pieces for everyday wear. The brand has introduced five exclusive signature cuts, each designed to maximize light, emotion, and brilliance. These aren’t just rings, they’re declarations of love, symbols of milestones, and heirlooms reimagined for a new generation.

Jain added, “Lucira is about elevating meaningful moments with timeless design and ethical brilliance. We’re not just shaping rings, we’re shaping what they represent in today’s world.

For Rupesh Jain, Lucira is more than a comeback, it’s a vision for the future of fine jewelry. One where innovation, ethics, and emotional resonance converge. India’s robust diamond manufacturing ecosystem and supportive government policies provide an ideal backdrop for Lucira’s ambitions. Jain believes India is uniquely positioned to become a major supplier and brand builder in the global LGD market, which has already seen strong demand in international markets as well.