Kolkata / New Delhi, Jan 12 (Mayank Nigam) Vipul Shah, Chairman, the Gem & Jewellery Export Promotion Council (GJEPC), on Sunday said the Indian gem and jewellery market, currently valued at USD 85 billion, is poised for rapid growth, projected to reach USD 130 billion by 2030. Highlighting the Council’s commitment to driving growth on the occasion of the Silver Jubilee (25th) anniversary of Eastern Regional Office of GJEPC here, Shah said, “The Indian gem and jewellery market, currently valued at USD 85 billion, is poised for rapid growth, projected to reach USD 130 billion by 2030. GJEPC is gearing up for growth with slew of initiatives.” Speaking about the recent collaboration with De Beers Group, Shah said, “GJEPC has invested Rs. 150 crores in the global generic promotion of diamonds till date. To strengthen this effort, GJEPC has partnered with De Beers for promotion of diamonds through Retail Alliance in India, with a formal MoU was signed at a special event on 7 January.”
De Beers Group, the world’s leading diamond company, and GJEPC announced the commencement of a strategic collaboration to strengthen the natural diamond narrative within the Indian gem and jewellery trade. “The collaboration titled, INDRA – Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India with tools that go beyond the conventional. For example, leveraging Artificial Intelligence to create customized retailer campaigns. From multi-lingual marketing assets to immersive storytelling and superior customer experiences, as well as in-depth natural diamond jewellery training in local languages, it will support India’s jewellery retailers with the tools they need to make sure that natural diamonds resonate deeply with every consumer,” said Shah. GJEPC organized the first B2B trade show IIJS Signature 2025, which generated business of around Rs. 35,000 crore. The show has grown exponentially, featuring over 1,500 exhibitors across 3,000 stalls, covering 1.25 lakh square meters of exhibition space across two venues in Mumbai.
The show welcomed 25,000+ trade visitors, including retailers from 800+ Indian cities and over 1,000 international visitors from 60+ countries. “GJEPC will be organizing its inaugural exhibition in Saudi Arabia, set to take place in the vibrant city of Jeddah from 11-13 September 2025. This landmark event aims to serve as a gateway for strengthening bilateral trade between India and the GCC region, unlocking unparalleled opportunities for collaboration and growth. This will serve as a gateway to boost bilateral trade between India and the GCC region,” said Shah. Additionally, in a move to boost gem and jewellery exports via e-commerce, GJEPC signed an MoU with DHL Express, the global leader in international express services, to facilitate the efficient shipping of India-crafted jewellery worldwide, said Shah. Shah is looking to collaborate with various States. “GJEPC and the Maharashtra Govt. are collaborating on skill development and certifications to strengthen the future workforce. By integrating skill development with cutting-edge technology, we are not only transforming the Indian gem and jewellery industry but also fostering innovation, sustainability, and trust. Our commitment to nurturing talent, advancing infrastructure, and promoting transparency ensures that India remains a global leader in this dynamic sector,” said Shah. On the export front, Shah remained optimistic about 2025.
“With American President Donald Trump’s return to the White House, there is hope for renewed stability in the geopolitical landscape, revitalized trade, and stronger supply chains, driving global demand for gems and jewellery. However, GJEPC is continuously exploring new markets while strengthening its presence in existing ones,” said Shah. GJEPC is also planning to make Singur (West Bengal) as a global export hub for fashion and costume jewellery. “Singur has a skilled workforce of around 1 lakh Bengali kaarigars, who are working in manufacturing units located in and around Singur, Hooghly. In fact, 20 per cent of the workforce are women and the development of Singur as an export hub will give a boost to the local cottage industry too. Vendors who import raw materials are located in Singur. Imported quality Gypsum manufacturing also started in Singur recently. Singur in Hooghly district is ideally located centrally and close to 5 railway stations, close to NH-2 which is connected to Kolkata International Airport. Singur has artisanal heritage as Kolkata’s renowned craftsmanship serves as a foundation, offering a rich legacy of artistic skills that can be leveraged by Singur’s jewellery manufacturers.” He added, “Shifting global trade dynamics, with the US directing procurement away from China, present a strategic opportunity for Singur’s manufacturers to meet this demand and elevate their global presence.” “India’s gem & jewellery business has two strengths: the first of which is quality in design & aesthetics and smart-tech for jewellery manufacturing as well as knowledge.
The knowledge has to penetrate deeper so that India can become knowledge and skill hub of the global gem & jewellery trade. With unparalleled capacity, advanced technology, skilled artisans, and talented designers, we are prepared to excel on the global stage. Together, we will contribute significantly to the Hon’ble Prime Minister’s vision of a Viksit Bharat,” said Shah. Talking about INDRA, Shah added, “Indra is designed to harness this momentum by tapping into India’s dynamic young population, the rise of organised players, and increasing demand across bridal, everyday wear, fashion, and entry-level jewellery. This initiative reflects a shared vision to educate stakeholders, empower retailers, and boost consumer demand, all while highlighting the timeless value of natural diamonds. Retailers will benefit from multi-lingual staff training modules focused on generic natural diamond product knowledge as well as access to a market intelligence portal. The programme will also provide customisable marketing assets and content for retailers to promote natural diamonds at a store level as they seek to enhance their returns and expand their customer base.”