Shaunak Parikh, Vice Chairman, GJEPC, called for India’s gems and jewellery industry to move beyond manufacturing scale and focus on design, value addition, technology and global brand building at the inaugural session of the CII Gems & Jewellery Conference in New Delhi on 30 September.
Speaking on the theme “India’s Jewellery Moment: From Craft to Commerce, Innovation to Impact”, Parikh said the next phase of growth should see India move “from scale to value, from manufacturing to design, and from being an OEM supplier to becoming an ODM and global branding powerhouse.”
He highlighted GJEPC’s India Gems & Jewellery Export Roadmap to 2040, developed with Boston Consulting Group, which targets taking India’s gem and jewellery exports from around US$28 billion to US$100 billion and beyond by 2040. He said the industry must leverage FTAs, strengthen buyer relationships and build India’s position as a global jewellery sourcing destination.
Parikh also stressed the importance of exporting finished, design-led and branded jewellery, with the “Crafted by India” proposition built around quality, design, craftsmanship, provenance and trust. He said technology, AI, advanced manufacturing and digital commerce would increasingly shape competitiveness, while skills development would remain critical.
“Our ambition should not simply be to export more jewellery. Our ambition should be to create jewellery that the world recognises as Indian — for its design, quality, craftsmanship and credibility,” Parikh said.
The session also featured G R Anand Ananthapadmanabhan, Chairman, CII Taskforce and Managing Director, GRT; Emma Wade Smith, Senior Vice President, De Beers Group; Pramod Agrawal, Chairman, National Gem & Jewellery Council of India (NGJCI); Pravakar Sahi, NITI Aayog; Nirakar Chand, IGM; and Sandeep Kohli, CEO, Novel Jewels.