GJEPC presents 50th India Gem & Jewellery Awards (IGJA) to the Brightest Jewels in India

Mumbai : The Gem & Jewellery Export Promotion Council (GJEPC) presented the coveted 50th India Gem & Jewellery Awards (IGJA), to the brightest jewels in India’s exports’ crown. 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. IGJA is powered by GIA – Gemological Institute of America, The World’s Foremost Authority in Gemology.

Since its inception in 1974, the IGJA has been an emblem of excellence in the gem and jewellery industry, recognizing the entrepreneurial spirit and innovation that propel the industry forward. Every year, IGJA honors the best of the best, showcasing the pinnacle of achievement in the gem and jewellery sector. This prestigious ceremony celebrates companies and partners whose contributions have made the industry a shining example of export excellence. IGJA has evolved over the years to embrace new categories, including social responsibility, innovation, and entrepreneurship, reflecting the dynamic nature of our industry.

Ramesh Bais, Governor, Maharashtra State, was the chief guest for the magnificent awards ceremony and Business tycoon Mukesh Ambani (Chairman & MD, Reliance Industries Ltd) graced GJEPC’s 50th edition of the IGJ Awards as Guest of Honour.

Representing GJEPC were: Vipul Shah, Chairman, GJEPC;  Kirit Bhansali, Vice Chairman, GJEPC;  Anoop Mehta, President, Bharat Diamond Bourse; Milan Chokshi, Convener, Promotions & Marketing, GJEPC; and Sabyasachi Ray, Executive Director, GJEPC.  Sriram Natarajan (Managing Director, GIA India) was also present along with the who’s who, captains and doyens of India’s gem & jewellery exports’ industry.

Russell Mehta, MD, Rosy Blue (India), was bestowed with the Lifetime Achievement Award for his exemplary/ impeccable contribution and serving as an inspirational model in the world of Gems & Jewellery. Ramesh Bais, Hon. Governor, Maharashtra State, gave the award in the presence of Mukesh Ambani (Chairman & MD, Reliance Industries Ltd).

Ramesh Bais, Hon. Governor, Maharashtra State, said, “I am pleased to know that the Gem & Jewellery Export Promotion Council (GJEPC) is organising the India Gem & Jewellery Awards function in Mumbai on 30″ March 2024. The Indian Gem and Jewellery industry accounts for 7 per cent of India’s GDP and employs more than 5 million skilled and semi-skilled workforce. It is heartening to note that Maharashtra is a major hub for gem and jewellery exports. The GJEPC is playing a significant role in promoting Brand India through its multifaceted work for the industry and its members. I am sure, members of the Council will make their maximum contribution in realizing India’s goal of achieving a 5 trillion dollar economy. I congratulate all the awardees who are being honoured at the GIEPC 50th India Gem & Jewellery Awards and wish the Council success in its future endeavours.”

While addressing a packed hall of diamond, gem and  jewellery trade,  Mukesh Ambani, CMD, Reliance Group, said, “I admire all that diamond exporters have achieved as you represent the true meaning of entrepreneurship and enterprise. I wish to extend my warm and heartfelt congratulations to all distinguished award winners in the 50th India Gem & Jewellery Awards. The golden jubilee of these prestigious awards not only signifies a proud milestone for the Gem & Jewellery Export Promotion Council (GJEPC), but it also highlights both the grand heritage and the dazzling future of the Indian gems and jewellery industry.

Evolving remarkably over the years, the industry has emerged as a leading player in the global luxury market, as well as a pivotal contributor to India’s export economy. It has also become a major generator of large-scale employment opportunities. Thanks to this industry’s unremitting focus on innovation-led growth, the world today stands in awe of the power of Indian design, the creativity of Indian designers, the quality of Indian materials, and the sheer range of India’s aesthetics in products that cater to diverse customers. As a result, the industry is poised to more than double its share in the global market in the coming years.

At the heart of this success lies GJEPC’s relentless efforts and visionary leadership that has propelled the industry to such lofty heights. The GJEPC has championed the cause of Indian gems and jewellery on the global stage, and has also played a crucial role in nurturing research, ensuring sustainable practices, and facilitating skill development within the sector. The jewellery industry’s remarkable resilience and adaptability, particularly during uncertain economic periods, is proof of the stellar role played by the GJEPC.

I am confident that, with the GJEPC continuing to provide strategic guidance and encourage innovation, the talent and the passion of our entrepreneurs and professionals will propel the Indian gems and jewellery industry to greater heights. I am confident that India’s gem & jewellery industry will touch the 100 billion dollar mark within the next few years.”

Vipul Shah, Chairman, GJEPC, said, “Today, India stands tall as a global leader in the gem and jewellery sector. Our exports continue to rise, our domestic market flourishes, and our artisans inspire the world with their intricate creations. This progress is a direct reflection of the hard work, dedication, and collective vision of the industry stakeholders. GJEPC’s dedication in championing and advancing this dynamic industry has been pivotal in solidifying India’s stature as a key player in the global gem and jewellery market. The global marketplace is dynamic, and the Indian gem and jewellery industry must embrace innovation, sustainability, and responsible sourcing to maintain its competitive edge. As we mark the 50th India Gem & Jewellery Awards (IGJA), we not only applaud the remarkable achievements of individual exporters but also acknowledge the collective endeavours of the industry at large. The 50th IGJA ceremony is a significant milestone, reflecting the Council’s remarkable dedication and leadership in nurturing the industry’s growth and success.

Moving forward, the industry’s trajectory aligns closely with Prime Minister Narendra Modi’s vision of a prosperous and sustainable India or Viksit Bharat. GJEPC has been wholeheartedly committed to this cause, actively undertaking initiatives to drive growth and sustainability. These efforts not only contribute to the industry’s expansion but also ensure its alignment with the principles of Viksit Bharat,” added Shah.

Kirit Bhansali, Vice Chairman, GJEPC, added, “A proud moment for all of us today as we celebrate the 50th anniversary of the India Gem and Jewellery Awards. Over the past five decades, our industry had come a long way, growing stronger with each passing year. Today, India is the preferred sourcing destination for gems and jewellery for the world. The impressive annual exports of gem and jewellery industry, valued at USD 40 billion, showcase the dedication and ambition of every exporter who dared to dream big.”

Sriram Natarajan, Managing Director of GIA India said, “I am honored to extend my heartfelt congratulations to GJEPC on the Golden Jubilee of its India Gem & Jewellery Awards (IGJA). This is a significant milestone in our industry’s history, and the dedication and commitment shown by GJEPC in recognizing excellence within the gem and jewelry sector is truly commendable. We collaborate with GJEPC on several key initiatives that help in ensuring the continued growth and prosperity of the Indian gem and jewelry industry.”

The 50th Edition IGJA recognised every sector contributing to the Gems & Jewellery Industry in their own way while felicitating, recognizing & nurturing talent and mentorship in the industry (large players as well as M/SMEs) – winners included names such as Renaissance Global Ltd., Vaibhav Global Ltd., Emeral Jewel Industry India Ltd., Laxmi Diamond, Kiran Gems, Kiran Exports, Hasmukh Parekh Jewellers, Ashok Jewellers, Jewelex India, Kiran Jewellery, Shree Momai Krupa Jewellery, Dhanera Diamonds, Oopal Diamonds, Amrapalli Exports, Industrial Jewels, Green Lab Diamonds among others.

Heena Vimal Dhorda from M/s Shree Aavad Kruppa Jewellery and Foram Mehul Dhakan from M/s Shree Aavad Kruppa Jewellery won the Woman Entrepreneur of the Year.

IndusInd Bank Ltd. won the Best Bank Financing the Gem & Jewellery Industry (Highest growth of limit sanctioned with minimum base of Rs. 500 crore).