India’s Gem & Jewellery exports poised to reach $100 billion soon: Mukesh Ambani

The India Gem & Jewellery industry would achieve exports of $100 billion in a few years and Indian-designed jewellery would make its mark globally, Mukesh Ambani, CMD, Reliance Group, said on Friday.

The India Gem & Jewellery industry would achieve exports of $100 billion in a few years and Indian-designed jewellery would make its mark globally, Mukesh Ambani, CMD, Reliance Group, said on Friday.

He was speaking at the the Gem & Jewellery Export Promotion Council’s (GJEPC) 50th India Gem & Jewellery Awards (IGJA) held in Mumbai.

“Evolving remarkably over the years, the industry has emerged as a leading player in the global luxury market, as well as as a pivotal contributor to India’s export economy. It has also become a major generator of large-scale employment opportunities,” Mr. Ambani said.

“As a result, the industry is poised to achieve exports of $100 billion in the coming years from $40 billion currently.”

Russell Mehta, MD, Rosy Blue (India), was awarded with the Lifetime Achievement Award for his contribution and “serving as an inspirational model in the world of Gems & Jewellery.”

GJEPC presented a total of 24 IGJ Awards: 14 - Industry Performance Awards; 7 - Special Recognition Awards; 2 - Felicitation Awards; and 1 - Banks supporting the Gems & Jewellery Industry Awards.

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.”