Union Home Minister and Minister of Cooperation Shri Amit Shah today addressed the 52nd India Gems and Jewellery Awards ceremony in Mumbai as the Chief Guest. Maharashtra Chief Minister Shri Devendra Fadnavis, Deputy Chief Minister Shri Eknath Shinde, Gujarat Deputy Chief Minister Shri Harsh Sanghavi, and several other dignitaries were present on the occasion.
Addressing the awards ceremony, Union Home Minister and Minister of Cooperation Shri Amit Shah said that it is a matter of great happiness for him that the Gems and Jewellery Awards, which have continuously contributed to enhancing India’s economy, prosperity and global brilliance, are being conferred on so many distinguished achievers today. He said that this initiative of the India Diamond Board is a reflection of India’s confidence, skill, prosperity and global aspirations. India will emerge as the global hub for gems and jewellery in the coming years.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that when the foundation of these awards was laid in 1975, hardly anyone could have imagined that this small initiative would, five decades later, evolve into a prestigious platform for the country’s gems and jewellery industry, and that the industry would play such a significant role in the growth of the national economy and the expansion of the MSME sector. Shri Shah said that those honoured today include exporters, manufacturers, bankers and women entrepreneurs. Together, they have set new benchmarks for India’s growth.
Shri Amit Shah said that gems and jewellery have always been an integral part of India’s identity. For over 6,000 years, gems and jewellery from India have been traded across the world. The Roman writer Pliny had written that Rome’s treasury was being depleted by its trade in Indian gems and spices, as the wealth earned by Rome was flowing to India through this trade. Shri Shah said that over the centuries, Indian artisans and craftsmen have continually added new dimensions to this tradition. During the medieval period, jewellery craftsmanship received royal patronage and reached new heights. The princely states of Rajasthan and Kolkata gave rise to the distinctive traditions of Kundan and Meenakari. Even today, Jaipur is renowned across the world as the capital of coloured gemstones. He said that any discussion on India’s gems and jewellery industry would remain incomplete without mentioning Surat. Shri Shah said that it is a fact that Surat has played a tremendous role in transforming the face of an entire industry. Nearly nine out of every ten diamonds cut and polished in the world are processed in Surat. He said that the people of Surat have not merely cut and polished diamonds; they have also demonstrated the highest standards of hard work and perseverance. The diamond merchants of Surat have not only provided employment to millions of people, enabled them to become self-reliant and made a significant contribution to the country’s economy and exports, but have also accomplished something even greater. He said that there was a time when it was believed that Kutch and Saurashtra would turn into a desert within fifty years. However, through their determination and relentless efforts to secure water for Kutch and Saurashtra, the diamond merchants of Surat also played a crucial role in saving the entire Saurashtra region.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that Mumbai, the country’s financial capital, has made a significant contribution to establishing the gems and jewellery industry as a key pillar of India’s exports. The Bharat Diamond Bourse (BDB) has today emerged as a symbol of India’s gems and jewellery trade across the world.
Union Home Minister and Minister of Cooperation, Shri Amit Shah, said that the Government led by Prime Minister Shri Narendra Modi has brought about several transformational changes in the country over the past 12 years. He said that in 2014, India was counted among the ‘Fragile Five’; today, it is among the top five economies of the world. He said that the GDP figures for the first quarter of the current financial year were released recently, and with a growth rate of 7.8 per cent, India has emerged as one of the fastest-growing major economies in the world. He said that this transformation has not been limited to economic activity alone; Prime Minister Modi has worked to bring about change across every sector. He said, “Who could have imagined that a terrorist attack would be answered by entering Pakistan’s territory, and that the country would have a Prime Minister capable of taking such a decisive stand?” Whether it was the surgical strike, the air strike or Operation Sindoor, Modi Ji has pursued a defence policy that makes the enemy think twice and tremble at the very thought of attacking India. He said that whether it is the construction of the Ram Janmabhoomi temple, the Kashi Vishwanath Corridor, the rejuvenation of Kedarnath or Mahakal Lok, India has accomplished what, for decades, people did not even have the courage to speak about.
Shri Amit Shah said that the transformational changes brought about by Prime Minister Shri Narendra Modi in the field of infrastructure have given a major boost to the economy. Driven by PLI schemes and facilities aimed at promoting exports, India’s exports are continuing to surpass their own records. He said that Prime Minister Modi has given the 140 crore people of the country the confidence and resolve that by 15 August 2047, India will emerge as number one nation in the world across every sector. The people of India have also embraced this resolve. Shri Shah said that wherever global circumstances have changed and trade and commerce have required support, necessary initiatives have been undertaken. The Taxation and Other Laws (Amendment) Act, 2026 is the latest example of this. Companies engaged in the trading of rough diamonds in specially notified areas have been granted exemption from income tax for a period of 15 years. This marks a major beginning towards establishing India as the world’s rough diamond trading hub.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that Prime Minister Shri Narendra Modi recently inaugurated the Bharat Ratnam Mega Common Facility Centre at SEEPZ, Mumbai, as part of the transformational initiatives in the infrastructure sector. Spread across 1.25 lakh square feet, the centre is equipped with state-of-the-art facilities such as 3D printing, casting and refining. He said that the India Jewellery Park is a landmark project that is expected to attract an investment of around ₹50,000 crore and generate direct and indirect employment for one lakh people. The Maharashtra Government has also extended several incentives, including exemption from stamp duty, concessions on electricity and enhanced subsidy rates. He said that in 2025, the industry had reached ₹2.44 lakh crore, accounting for 6.3 per cent of the country’s merchandise exports. The industry is providing direct and indirect employment to around 75 lakh people.
Shri Amit Shah said that India has today emerged as a major source of jewellery imports for the United States, the Middle East, Hong Kong and Europe, and that this journey must be taken forward. He said that the Free Trade Agreements entered into by the Government of India’s Ministry of Commerce with the European Union, the United Arab Emirates, Australia, Oman and the United Kingdom can serve as a major avenue for expanding our trade. He said that with the support of the Government of India, we must move forward with confidence and determination to explore new markets, new avenues of trade and new opportunities. Today, India processes more than 90 per cent of the world’s cut and polished diamonds, which is the strongest testament to the courage and enterprise of India’s jewellery industry.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that times are changing and so are consumer trends, and this transformation presents a significant opportunity for the gems and jewellery trade. He said that jewellers should be prepared to seize the opportunities arising from these changes. He said that the era of lab-grown diamonds is now set to emerge, with the market expected to grow to nearly 50 times the size of the current diamond market. This represents a tremendous opportunity. He said that when the global jewellery trade underwent modernization, India was under colonial rule. Several countries moved ahead of us, including even smaller nations. But with the advent of the lab-grown diamond era, India has the necessary infrastructure, skills, capital and capable entrepreneurs. He said that we must prepare ourselves in such a way that the entire ecosystem and the complete manufacturing value chain for lab-grown diamonds are in the hands of Indians. Whether it is manufacturing the machines, producing lab-grown diamonds, making jewellery, or developing Indian brands and opening showrooms in cities across the world, the entire value chain should be within our reach. He said that Indian jewellery traders are fully capable of achieving this. Shri Shah said that the Government of India has already taken the initiative, while some enterprising traders in Surat and Mumbai have also taken the lead. The Governments of Gujarat and Maharashtra are bringing in supportive policies, and the Government of India will also introduce appropriate policies. He said that from manufacturing the machines to the showroom where the jewellery ultimately reaches a woman’s hand, India must have ownership of the entire ecosystem, and the industry must move forward with this vision and ambition. He said that merely increasing the pace of work will no longer be sufficient; the scale of operations must also be transformed. Shri Shah said that India should emerge as a pioneering industry in the new era of lab-grown diamonds, and Indian brands should become global brands, ensuring a strong presence for India and Indian jewellery traders in this global business. For this, the Modi Government is ready to provide all possible support.
Union Home Minister and Minister of Cooperation Shri Amit Shah said that whenever Gujarat or India has faced a crisis, the jewellery industry has always stood wholeheartedly with society and the nation. The gems and jewellery industry has never shied away from contributing to the advancement and welfare of society. Whether it was a drought, a flood, a cyclone, water conservation, tree plantation, or ensuring that the children of artisans and employees receive education at the finest institutions, the industry has consistently contributed to the progress of society. For this, I wholeheartedly commend and congratulate the industry. He expressed hope that the leading industrial houses, young entrepreneurs and technologists present here would leave with the resolve that, in the diamond world of the future, the entire value chain should be built in India, and that the marketing chain across the world should also be led by Indian brands.