Investment of Rs 1 lakh crore and 50,000 jobs expected – Chief Minister Devendra Fadnavis
Mumbai, Sept 2026 : The entire value chain for the production of laboratory-grown diamonds, from machinery required for manufacturing lab-grown diamonds to jewellery production, branding, showrooms and global sales networks, should be established in India. Indian industry should establish global leadership in this emerging sector, Union Home and Cooperation Minister Amit Shah said.
The 52nd ‘India Gems and Jewellery Awards’, honouring excellence, leadership and notable performance in India’s gems and jewellery industry, was organised in Mumbai. Union Minister Amit Shah was the chief guest at the event. Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, Gujarat Deputy Chief Minister Harsh Sanghavi, Cultural Affairs Minister Ashish Shelar, Marketing Minister Jaykumar Rawal, MP Govind Dholakia, MLA Amit Satam and Council Chairman Kirit Bhansali were present. Entrepreneurs, exporters, manufacturers, bankers, women entrepreneurs and representatives of various organisations from the gems and jewellery sector also attended.
Shah said India possesses the strength of infrastructure, energy, capital and an entrepreneurial business community. The global market for lab-grown diamonds is expected to expand significantly in the coming years. Therefore, Indian industry should identify the opportunities in this sector and increase not only the pace of work but also the scale of business.
Indian companies should create global brands and establish their own sales centres in major cities. The Central Government will provide all necessary support for this, he said.
Shah said a large space and the required FSI had been made available in Navi Mumbai for the gems and jewellery industry. He also said the state government was committed to providing all possible assistance to ensure that the industry does not move outside Maharashtra.
India’s Ancient Tradition of Gems and Jewellery Trade
Shah said India’s gems and jewellery have been recognised across the world for thousands of years. Noting that the trade of gems and jewellery from India has existed for around 6,000 years, he said royal patronage during the medieval period gave new heights to jewellery and gemstone craftsmanship. Art forms such as Kundan and Meenakari developed during this period. Jaipur continues to be recognised as the global capital of coloured gemstones.
Nine out of every 10 diamonds cut and polished globally are processed in Surat. The diamond industry in Surat has provided employment and self-reliance to millions of citizens while making a major contribution to the country’s economy and exports.
Mumbai has also made the gems and jewellery trade an important pillar of exports. India Diamond Bourse has emerged as a symbol of the global strength of India’s gems and jewellery industry, Shah said.
Exports Reach Rs 2.44 Lakh Crore
India’s gems and jewellery exports reached Rs 2.44 lakh crore in 2025, accounting for 6.3 per cent of the country’s total merchandise exports. The industry provides direct and indirect employment to around 75 lakh people.
India has emerged as an important supplier of jewellery to the United States, the Middle East, Hong Kong and Europe. More than 90 per cent of the world’s cut and polished diamonds are processed in India, which Shah described as an excellent example of the courage and skill of Indian entrepreneurs.
He urged the industry to use the free trade agreements with the European Union, United Arab Emirates, Australia, Oman and the United Kingdom to explore new markets and business opportunities.
Shah said the decision to provide a long-term income-tax benefit to companies trading in rough diamonds in a Special Notified Zone had marked an important beginning towards making India a global rough diamond trading hub.
He called upon the gems and jewellery industry to play an important role in India’s goal of becoming a leading nation in every sector by 2047.
Rs 1 Lakh Crore Investment, 50,000 Jobs Expected in Navi Mumbai
Chief Minister Devendra Fadnavis
Chief Minister Devendra Fadnavis said the gems and jewellery industry has made an important contribution to India’s exports and economic development. The state government is committed to providing infrastructure, modern technology and efficient connectivity to the industry.
He expressed confidence that the modern Gems and Jewellery Park coming up in Navi Mumbai would attract investment of around Rs 1 lakh crore and generate 50,000 jobs.
Fadnavis said Mumbai and Maharashtra account for the largest share of India’s gems and jewellery exports. The ecosystem created by India Diamond Bourse has provided significant momentum to the industry.
Around 30,000 to 35,000 traders, artisans and employees work there every day as one family. Their efforts have helped the sector’s trade reach $21 billion, with continued growth.
Maharashtra’s Dedicated Gems and Jewellery Policy
The state government prepared a new policy for the gems and jewellery sector in 2025. Along with traditional businesses, the policy contains various provisions for the lab-grown diamond industry.
Fadnavis said the state government would provide all necessary support to the industry, which contributes to tax revenues, foreign exchange earnings and large-scale employment generation.
The state government has provided land for the proposed Gems and Jewellery Park in Navi Mumbai. Work on the project is scheduled to begin from Dussehra. The country’s most modern gems and jewellery ecosystem will be developed at the site, benefiting both Maharashtra and the national economy.
Seamless Connectivity to India Diamond Bourse
Fadnavis said special emphasis was being placed on transportation as construction, industrial activity and employment are expected to increase around the India Diamond Bourse.
Planning is underway to provide direct access to India Diamond Bourse from the metro station. A pod taxi service will also be introduced from Bandra and Kurla railway stations to make travel easier for employees and artisans.
There are also plans to construct underground routes connecting the bullet train station with the Coastal Road, Bandra-Worli Sea Link, Terminal-2 of Chhatrapati Shivaji Maharaj International Airport, Kurla and the northern Coastal Road.
India Diamond Bourse will thus be seamlessly connected with railway, metro, road and airport infrastructure.
Fadnavis said modern technology was being increasingly used to create world-class facilities for industries under the new India being built under the leadership of Prime Minister Narendra Modi. Providing necessary facilities to the gems and jewellery industry, which makes a valuable contribution to the national economy, is the government’s responsibility, he said.
Gems and Jewellery Industry’s Major Contribution to Economic Development
Deputy Chief Minister Eknath Shinde
Deputy Chief Minister Eknath Shinde said Maharashtra accounts for around 50 per cent of India’s gems and jewellery exports and that the sector has played an important role in the country’s economic development.
The industry has generated more than 50 lakh jobs and attracted investment of around Rs 1 lakh crore, he said.
Shinde said Prime Minister Narendra Modi had initiated significant progress towards Viksit Bharat 2047. India’s economy is growing rapidly and is moving towards becoming the world’s third-largest economy from its present fourth position.
The gems and jewellery industry will have an important role in achieving this objective, he said.
India Gems and Jewellery Awards 2026
The 52nd ‘India Gems and Jewellery Awards’, organised by the Gem and Jewellery Export Promotion Council, included 27 categories.
The council is the apex organisation representing India’s gems and jewellery industry. It was established in 1966 by the Ministry of Commerce, Government of India, and became autonomous in 1998. It has more than 10,700 members.
The awards included categories such as highest turnover, highest employment generation, highest tax-paying company, cut and polished diamonds, plain and studded jewellery in precious metals, silver jewellery, coloured gemstones, costume/fashion jewellery, synthetic stones and lab-grown diamonds.
At the 52nd national-level awards ceremony, exporters, manufacturers, bankers, women entrepreneurs and professionals who contribute to strengthening the industry were honoured.
Awards were also presented in categories including the most socially responsible company (CSR), best innovative marketing and branding campaign, overseas sale of gems and jewellery, woman entrepreneur, best bank financing the industry, special recognition, lifetime achievement and employee awards.
