- Amit Shah addressed the 52nd India Gems and Jewellery Awards in Mumbai as Chief Guest.
- He said India should emerge as a global hub for gems and jewellery in the coming years.
- Shah called for the complete lab-grown diamond value chain to be developed and controlled in India.
- He highlighted the industry’s contribution to exports, employment and the MSME sector.
GG News Bureau
Mumbai, 14th Sept: Union Home Minister and Minister of Cooperation Amit Shah on Sunday addressed the 52nd India Gems and Jewellery Awards ceremony in Mumbai as the Chief Guest. Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde and Gujarat Deputy Chief Minister Harsh Sanghavi were among those present.
Addressing the gathering, Shah said India would emerge as a global hub for the gems and jewellery sector in the coming years. He noted that the awards, whose foundation was laid in 1975, have evolved into a prestigious platform recognising the contribution of the industry to India’s economy and MSME sector.
The Home Minister highlighted the sector’s long association with India and said nearly nine out of every ten diamonds cut and polished globally are processed in Surat. He also credited the city’s diamond industry with generating employment and contributing significantly to India’s economy and exports. Mumbai, he said, has played a major role in establishing gems and jewellery as an important pillar of India’s exports, with the Bharat Diamond Bourse emerging as a global symbol of the trade.
Shah also highlighted recent economic and policy measures, including the Taxation and Other Laws (Amendment) Act, 2026, under which companies trading rough diamonds in specially notified areas have been granted income-tax exemption for 15 years. He said the measure would support India’s ambition to become a global rough diamond trading hub.
He referred to the Bharat Ratnam Mega Common Facility Centre at SEEPZ, spread across 1.25 lakh square feet and equipped with facilities including 3D printing, casting and refining. Shah also highlighted the India Jewellery Park, which is expected to attract around ₹50,000 crore in investment and generate direct and indirect employment for one lakh people.
According to Shah, the gems and jewellery industry reached ₹2.44 lakh crore in 2025, accounting for 6.3 per cent of India’s merchandise exports, while providing direct and indirect employment to around 75 lakh people. He urged the industry to explore new markets and opportunities through India’s trade agreements with the European Union, UAE, Australia, Oman and the United Kingdom.
A major focus of Shah’s address was the emerging lab-grown diamond industry. He said the market could grow to nearly 50 times its current size and urged Indian companies to establish the entire value chain domestically, from manufacturing machinery and producing lab-grown diamonds to jewellery manufacturing, branding and global retail.
Shah said India has the infrastructure, skills, capital and entrepreneurs required to lead the new era of lab-grown diamonds. He added that the Government of India was ready to provide all possible support and called for Indian jewellery brands to develop a strong global presence.
He also praised the industry’s contribution during crises and said jewellery businesses had consistently supported society during droughts, floods, cyclones and other challenges, besides contributing to water conservation, tree plantation and education for the children of artisans and employees.
