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Union Home Minister Amit Shah appealed to Indian industry to build the entire value chain for lab-grown diamonds in India, from manufacturing machinery and jewellery production to branding, showrooms and global sales, and establish global leadership in the emerging sector.
The 52nd India Gems and Jewellery Awards 2026 ceremony, which felicitates excellence, leadership and remarkable performance in the gems and jewellery industry in India, was organised in Mumbai. Union Minister Amit Shah was speaking as the chief guest at the ceremony. Union Minister Shah said that India has the strength of infrastructure, energy, capital and an enterprising trading community. The global market for lab-grown diamonds is likely to expand on a large scale in the coming period. Therefore, recognising the opportunities in this sector, the Indian industry should increase not only the pace of work but also the scope of business. He said a proposal has been put forth to provide large space and necessary FSI for the gems and jewellery industry in Navi Mumbai. Union Minister Shah also said that the state government is committed to providing all possible help to ensure that this industry does not go out of Maharashtra. In the year 2025, India's gems and jewellery exports have reached Rs 2 lakh 44 thousand crore. The share of this sector in the country's total merchandise exports is 6.3 per cent. About 75 lakh citizens are getting direct and indirect employment from this industry. India has become an important supplier of jewellery for the USA, Middle East, Hong Kong and Europe. India processes more than 90 per cent of the world's cut and polished diamonds. This is an excellent example of the adventure and skill of Indian entrepreneurs. He also said that the industry should explore new markets and business opportunities by utilising the free trade agreements with the European Union, United Arab Emirates, Australia, Oman and the United Kingdom, the state government said. He said that the decision to give long-term income tax concessions to companies trading in rough diamonds in the Special Notified Zone has been an important beginning towards making India a global rough diamond trading hub. Chief Minister Devendra Fadnavis expressed confidence that the state-of-the-art Gems and Jewellery Park to be set up in Navi Mumbai will generate an investment of about Rs 1 lakh crore and create 50,000 jobs. Chief Minister Fadnavis said that Mumbai and Maharashtra have the largest share in India's gems and jewellery exports. The capable ecosystem created by Bharat Diamond Bourse has given a big boost to the growth of this industry. At this place, about 30 to 35 thousand traders, artisans and employees work like a family every day. Due to their hard work, the trade of this sector has reached 21 billion dollars and is continuously increasing. The state government has formulated a new policy for the gems and jewellery sector in 2025. Along with traditional business, various provisions have also been made in this policy for the industry of diamonds developed in the laboratory, i.e., the 'lab-grown diamond' industry, the state government stated. The state government has made land available for the proposed Gems and Jewellery Park in Navi Mumbai. It has been announced that the work of this project will start from Dussehra. The most modern gems and jewellery ecosystem in the country will be built at this place, which will greatly benefit the state's as well as the country's economy, he noted. Deputy Chief Minister Eknath Shinde said that Maharashtra contributes about 50 per cent to the gems and jewellery export business, and this sector has played an important role in the growth rate of the country's economy. More than 50 lakh jobs have been created through this industry, and an investment of about one lakh crore rupees has been made in this sector. The 52nd India Gems and Jewellery Awards organised by the Gem and Jewellery Export Promotion Council included 27 categories. The awards given on Sunday included categories such as highest turnover, highest employment generation, highest tax-paying company, cut and polished diamonds, plain and studded jewellery of precious metals, silver jewellery, coloured gemstones, costume fashion jewellery, synthetic stones and lab-grown diamonds. (ANI)
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