The Indian gem and jewellery sector, a beacon of exquisite craftsmanship and economic prowess, recently celebrated its pinnacle of achievement at the 51st India Gem & Jewellery Awards (IGJA). Hosted by the illustrious Gem & Jewellery Export Promotion Council (GJEPC), this prestigious event unfolded in the historic Pink City of Jaipur, honoring the nation’s leading exporters and visionaries who have propelled India to the forefront of the global gem and jewellery market. The IGJA stands as a testament to the industry’s unwavering commitment to excellence, innovation, and sustainable growth, recognizing those who not only meet but exceed international standards.
A total of 24 coveted IGJ Awards were presented, reflecting the diverse facets of this dynamic industry. These included 14 Industry Performance Awards, which celebrated outstanding export achievements across various product categories from precious metal jewellery to cut and polished diamonds and coloured gemstones. Seven Special Recognition Awards highlighted exceptional contributions in areas like employment generation, financial prudence, and innovative marketing. Additionally, two Felicitation Awards acknowledged profound individual impact, while one special award recognized a bank for its crucial support to the sector. The grandeur of the event was significantly bolstered by its esteemed partners: Gold Partner, World Gold Council; Powered By GIA; Associate Partners Gemfields and RMC; and Co-Partner Vaibhav Global Limited, all underscoring the collaborative spirit driving the industry forward.
A Confluence of Visionaries: Leadership Perspectives on Industry Growth
The 51st IGJA was graced by the eminent presence of business tycoon Shri Gautam Adani, Chairman of the Adani Group, who presided as the Presiding Guest. His address captivated a hall filled with the who’s who and doyens of India’s gem and jewellery industry, offering a powerful vision for the sector’s future. Representing the GJEPC were Shri Vipul Shah, Chairman; Shri Kirit Bhansali, Vice Chairman; Shri Nirmal Bardiya, Regional Chairman, Rajasthan; and Shri Sabyasachi Ray, Executive Director. Also present were Shri Sachin Jain, Regional CEO – India, World Gold Council, and Shri Gopal Kumar, Director and General Manager, Gemfields India Pvt. Ltd., alongside numerous other industry stalwarts.
Shri Gautam Adani: Paving the Path for a Digital and Sustainable Future
In his insightful address, Shri Gautam Adani articulated a compelling vision for the future, declaring, “Technology and sustainability are the twin pillars of our future. As we embrace the digital age, let’s ensure our growth is both innovative and responsible.” He emphasized the critical role of empowering India’s skilled artisans and craftsmen with cutting-edge digital tools, asserting that such empowerment would “propel our jewellery heritage to new heights.” Adani underscored the pivotal role of the youth as “the architects of tomorrow,” urging nurturing their potential to “create an India that shines brightly on the world stage.” He further elaborated on the transformative power of innovation, stating, “Innovation and sustainability are not just trends but the foundation for the future of the gem and jewellery industry.” From advanced manufacturing techniques to the integration of smart wearables, technology is revolutionizing the jewellery landscape, opening up unprecedented avenues for customization and deep consumer connection. Adani urged the industry to proactively “embrace change, challenge the status quo, and adapt to evolving consumer needs” to maintain and strengthen India’s position as a global leader.
Shri Vipul Shah: Charting a Course for Global Leadership
Echoing this forward-looking sentiment, Shri Vipul Shah, Chairman, GJEPC, inspired the audience with a rallying cry to “Think big, innovate relentlessly, and embrace technology – the future of India’s gem and jewellery industry is brighter than ever.” He highlighted the robust retail growth within India and pointed to transformative infrastructure projects like the India Jewellery Park in Mumbai, Jaipur’s Gem Bourse, and the Bharat Ratnam Mega Common Facility Centre (CFC) as game-changers poised to redefine the industry landscape. These initiatives, strategically designed to enhance manufacturing capabilities, facilitate trade, and provide shared resources, are crucial for supporting both large enterprises and small and medium-sized enterprises (SMEs). Shah emphasized the vital role of “visionary government policies and Free Trade Agreements (FTAs),” which provide the necessary ecosystem for the industry to “scale new heights.” He concluded with a powerful call for collective action, asserting, “Together, we can position India as a global leader in gems and jewellery, setting benchmarks for innovation, excellence, and sustainability.”
Shri Kirit Bhansali: Celebrating Resilience and Export Success
Shri Kirit Bhansali, Vice Chairman, GJEPC, reflected on the industry’s remarkable tenacity, stating, “The gem and jewellery industry demonstrated incredible resilience by achieving $32 billion in exports last year, despite facing numerous challenges.” His words acknowledged the difficult global economic environment and geopolitical uncertainties, making the export achievement even more commendable. He extended heartfelt congratulations to the award winners, recognizing their instrumental role “in leading this remarkable achievement and inspiring the industry to greater heights,” serving as exemplars of dedication and strategic acumen.
Shri Sachin Jain: Connecting with the Future and ‘Viksit Bharat 2047’
Shri Sachin Jain, Regional CEO – India, World Gold Council, spoke passionately about India’s moment on the global stage, declaring, “This is our time, our era. The next ten years belong to India.” He articulated the industry’s strategic goal to “emotionally connect with consumers, especially the younger generation, through modern approaches.” This involves understanding evolving tastes, embracing contemporary designs, and leveraging digital platforms to engage new demographics. Jain also highlighted the industry’s unwavering commitment to supporting Prime Minister’s vision of ‘Viksit Bharat 2047,’ the ambitious goal of transforming India into a developed nation. “We are collaborating with the government to define gold’s role in this journey,” he added, emphasizing the metal’s cultural, economic, and investment significance as the nation prepares for key milestones in 2030, 2035, and beyond. He fittingly described IGJA as “a celebration of remarkable achievements and the people behind them.”
Shri Sriram Natarajan: The Industry’s Unparalleled Contribution
Shri Sriram Natarajan, MD, GIA India, underlined the profound significance of the Indian gem and jewellery industry to the nation. He highlighted its substantial contributions to “exports, GDP, and employment,” underscoring its role as a critical economic engine. Natarajan praised the industry’s rapid ascent, attributing its success to the “entrepreneurial grit and global business acumen of business families,” ably supported by government policies, GJEPC, financial institutions, and specialized organizations like GIA. He remarked on the unique dynamic within the sector, where “the industry thrives on healthy competition to bring out the best and demonstrates unparalleled collaboration when united by collective strength.” The IGJA, he concluded, serves as a vital platform to “celebrate the entrepreneurs, their families, employees, and all contributors to this success,” extending well-deserved congratulations to all the award winners.
Honoring Legends: Lifetime Achievement and Special Recognitions
The 51st IGJA also paid tribute to individuals whose extraordinary contributions have left an indelible mark on the Indian gem and jewellery industry, shaping its trajectory for decades.
A profound highlight of the evening was the presentation of the Lifetime Achievement Award to Shri Pramod Agrawal, Chairman, Derewala Industries Ltd. His visionary leadership and strategic initiatives have significantly reshaped the sector. During his impactful tenure as GJEPC Chairman, Shri Agrawal spearheaded transformative projects, including the establishment of crucial Common Facility Centres (CFCs), which democratized access to advanced technology for smaller players, and a world-class laboratory in Jaipur, boosting quality assurance. He also laid the foundational groundwork for mega projects like the Jewellery Park in Mumbai and the Gem Bourse in Jaipur, envisioning modern infrastructure to support future growth. His leadership during the unprecedented challenges of the Covid-19 crisis, securing critical relief measures for the industry and its workforce, stands as a powerful testament to his compassion and unwavering resolve. As the National Chairman of the National Gem & Jewellery Council of India (NGJCI), Shri Agrawal’s legacy continues to inspire generations, embodying a spirit of relentless progress and dedication.
In another significant recognition, Shri Pankaj Parekh, Regional Chairman, GJEPC, was honored with a Special Recognition Award for his exceptional contributions to the jewellery industry in India’s Eastern region. A true visionary, Shri Parekh has played a pivotal role in establishing transformative initiatives such as the Manikanchan SEZ (Special Economic Zone) and the creation of the Jewellery Park, both of which have substantially elevated the region’s prominence within the national and global jewellery sector. His dynamic leadership, both as a former Vice Chairman and his current role as Regional Chairman of GJEPC, has been instrumental in driving robust growth, fostering a culture of innovation, and creating invaluable opportunities for countless businesses and individuals. This well-deserved recognition celebrates his enduring impact and strategic foresight.
Further emphasizing dedicated service, Shri Sabyasachi Ray, Executive Director, GJEPC, received special recognition for his remarkable 25 years of devoted service to the Council. His unwavering commitment has been a cornerstone in transforming GJEPC into the globally respected trade body it is today. From his early days as Director – Eastern Region to his well-deserved elevation as Executive Director in 2007, Mr. Ray has been a central figure in shaping the trajectory of the gem and jewellery industry in India. His visionary leadership has been instrumental in establishing iconic and globally recognized initiatives such as the IIJS (India International Jewellery Show), which is India’s largest jewellery trade show, and its international counterparts, IGJS Dubai and Jaipur, along with the development of various Common Facility Centres. These initiatives have significantly driven the industry’s growth, amplified its global prominence, and fostered a collaborative environment. Mr. Ray’s inclusive and dedicated leadership style continues to serve as an inspiration to all within the sector.
Ensuring Transparency: The Rigorous Evaluation Process
The credibility and impartiality of the India Gem and Jewellery Awards are meticulously upheld by Ernst & Young LLP (EY), serving as the official Knowledge Partner. EY plays a crucial role in ensuring a transparent, fair, and objective evaluation process, which is paramount for an award of this stature. Leveraging its profound expertise in data analysis and industry benchmarking, EY meticulously designs the stringent selection criteria. These criteria encompass a comprehensive assessment of various performance indicators, including significant export performance, demonstrated value addition in manufacturing, substantial employment generation, and strategic investment in research and development (R&D). This rigorous and multi-faceted approach ensures that only the most deserving companies and individuals are identified and celebrated for their outstanding contributions to the industry.
A Legacy of Excellence: The Evolution of IGJA
Since its inception in 1973, the IGJA has evolved into much more than just an awards ceremony; it has become an emblem of excellence within the gem and jewellery industry. For over five decades, it has consistently recognized and celebrated the entrepreneurial spirit, innovative drive, and unwavering dedication that collectively propel the industry forward. Every year, IGJA honors “the best of the best,” showcasing the pinnacle of achievement in every segment of the gem and jewellery sector. This prestigious ceremony is a grand celebration of companies and their partners whose collective contributions have transformed the Indian gem and jewellery industry into a shining example of export excellence on the global stage. Reflecting the dynamic and ever-evolving nature of the industry, IGJA has adeptly expanded its award categories over the years, now encompassing crucial aspects like social responsibility, groundbreaking innovation, and entrepreneurial prowess, thereby encouraging holistic growth and impactful contributions.
The 51st India Gem & Jewellery Awards not only celebrated past achievements but also cast a clear vision for a future defined by technology, sustainability, and unparalleled leadership, reaffirming India’s enduring legacy as a powerhouse in the global gem and jewellery trade.
The Winner List of IGJA 2024: Celebrating Excellence Across Categories
| Sr. No. | Award Categories | Name of the Award | Name of Winner |
| 1 | Industry Performance Awards | Precious Metal Jewellery – Plain (Large) (Exports Above Rs. 250 Crore) | Hasmukh Parekh Jewellers |
| 2 | Precious Metal Jewellery – Plain (Medium) (Exports Above Rs. 100 Crore up to Rs 250 Crore) | Ashok Jewels Private Limited | |
| 3 | Precious Metal Jewellery – Studded (Large) (Exports Rs. 500 Crore & above) | Jewel One | |
| 4 | Precious Metal Jewellery – Studded (Medium) (Exports Above Rs. 100 Crore up to Rs 500 Crore) | Kiran Jewelry | |
| 5 | Precious Metal Jewellery – Plain & Studded (SME) (Export Below Rs. 100 Crore) | Cadas Gold And Diamonds | |
| 6 | Cut & Polished Diamonds (Large) (Exports Rs. 1000 Crore & above) | Kiran Gems Private Limited | |
| 7 | Cut & Polished Diamonds (Medium) (Exports Above Rs. 250 Crore up to Rs 1000 Crore) | Dhanera Diamonds | |
| 8 | Cut & Polished Diamonds (Small) (Export Below Rs. 250 Crore) | Kumbh Gems | |
| 9 | Silver Jewellery | Renaissance Global Limited | |
| 10 | Cut & Polished Coloured Gemstones | Vaibhav Global Limited | |
| 11 | Costume/ Fashion Jewellery | Amrapali Exports | |
| 12 | Cut & Polished Synthetic Stones | RMC Gems India Limited | |
| 13 | Lab Grown Diamond (Highest export) | Greenlab Diamonds LLP | |
| 14 | Most Socially Responsible Company (CSR) | Hari Krishna Exports Private Limited | |
| 15 | Special Recognition Awards | Highest Employment on the company rolls | Emerald Jewel Industry India Limited |
| 16 | Highest Taxpayer Company | Kiran Gems Private Limited | |
| 17 | Highest Turnover | Kiran Gems Private Limited | |
| 18 | Award for Best innovative Marketing and Branding campaign overseas | Kiran Gems Private Limited | |
| 19 | Highest Gems and Jewellery Sales (Importer) – USA & Canada | Kiran Gems Usa Inc | |
| 20 | Highest Gems and Jewellery Sales (Importer) – Asia (other than India) | Kiran Exports (Hong Kong) Limited | |
| 21 | Highest Gems and Jewellery Sales (Importer) – Europe | Kiran Exports Nv | |
| 22 | Felicitation Awards | Lifetime Achievement Award | Shri Pramod Agrawal, Chairman, Derewala Industries Ltd. |
| 23 | Woman Entrepreneur of the year | Nancy Diamonds India | |
| 24 | Banks Supporting the Gems and Jewellery Industry Awards | Best Bank Financing the Industry (Highest Growth of limit sanctioned with Minimum base of Rs 500 crore) | IndusInd Bank Limited |