The future of India\u2019s gem and jewellery industry came alive at the launch of InnovNXT 40 Under 40 in Mumbai on 25th June 2025 \u2014 a dynamic initiative by the Gem & Jewellery Export Promotion Council (GJEPC), the apex body for the gem and Jewellery industry in India, aimed at recognising and empowering its next generation of leaders. With the World Gold Council as Presenting Partner, Godrej as Associate Partner, and DSP Mutual Fund as Co-Partner, the event brought together trailblazers, changemakers, and thinkers under one roof for a day of insight, inspiration, and exchange.<\/p>\n
The InnovNXT 40 Under 40 conference featured a power-packed agenda that kept the momentum going throughout the day. Sessions explored a wide range of topics \u2014 from the strategic journey of IPOs and wealth creation, to the growing influence of women in the jewellery sector. Discussions dived into pressing themes like the surge in gold prices, building a lab-grown diamond brand, and scaling tech businesses with a bootstrapped mindset. With each panel offering fresh perspectives and actionable insights, the event created an environment that is both thought-provoking and energising for the next generation of industry leaders.<\/p>\n
InnovNXT 40 Under 40 was inaugurated by Chief Guest Smt. Aditi Sunil Tatkare, Hon\u2019ble Minister for Women and Child Development, Government of Maharashtra, along with Shri Kirit Bhansali, Chairman, GJEPC; Smt. Khushboo Ranawat, Regional Chairman (WR), GJEPC; Shri Sachin Jain, Regional CEO \u2013 India, World Gold Council; and Shri Nirav Bhansali, Convener \u2013 National Exhibitions, GJEPC, in the presence of distinguished industry leaders and participants.<\/p>\n
Applauding the 40 Under 40 initiative, Smt Tatkare said, \u201cI truly commend GJEPC for envisioning and organising the 40 Under 40 conference \u2014 it reflects foresight and deep commitment to nurturing the next generation. Every era brings innovation, but it\u2019s equally important to honour tradition. Young leaders must carry forward their legacy with honesty and fresh ideas. Events like this are not just celebrations, but platforms of growth, dialogue, and responsibility.\u201d<\/p>\n
Mr. Govind Dholakia, Hon\u2019ble Member of Parliament (Rajya Sabha), joined virtually with a heartfelt video message that reflected on the importance of values-led leadership and resilience.<\/p>\n
Mr. Dholakia noted, \u201cFor the youngsters here, InnovNXT isn\u2019t just a platform \u2014 it\u2019s an opportunity. A space to share bold, exciting ideas and learn from one another. If you\u2019ve inherited a business legacy, nurture it with passion. It\u2019s your responsibility to carry it forward with care and vision. Also, many diamantaires are actively involved in impactful CSR initiatives \u2014 showing that success isn\u2019t just about business growth, but also about giving back. Because real progress begins when we tackle real problems. If you are in the comfort zone, you will not progress.\u201d<\/p>\n
Delivering the welcome address, Mr. Kirit Bhansali, Chairman, GJEPC, praised the ambition and energy of the young leaders in the room.<\/p>\n
Mr. Kirit Bhansali said, \u201cYou are not only the future; you are already the architects of change. In an industry shaped by tradition, it\u2019s your fresh thinking, your values, and your willingness to embrace innovation that will define what comes next. Sustainability, transparency, and ethical business are no longer optional\u2014they are essential. As we navigate a rapidly evolving global market, it\u2019s your energy and ideas that will keep India at the forefront.\u201d<\/p>\n
Mr. Nirav Bhansali, Convener \u2013 National Exhibitions, GJEPC, set the context with an engaging and relatable message to the audience. \u201cInnovNXT isn\u2019t just another seminar\u2014it\u2019s a signal that the industry is ready for something new. You\u2019re not here to follow an existing path, but to shape a new one. The next decade belongs to those who challenge, question, and reimagine. Whether it\u2019s AI in design or circular economy models, the pace of change is real\u2014and you are leading it. So be present, be curious, be bold. This platform is your launchpad. Because the future will not wait\u2014and neither should you.\u201d<\/p>\n
Session 1<\/strong><\/p>\n From Brand Building to Wealth Creation: The Strategic IPO Journey<\/strong><\/p>\n Moderator: Ms. Anisha Jain \u2013 Former Senior Anchor & Head of Research, ET Now & CNBC Group<\/p>\n Speakers:<\/p>\n Mr. Sandipan Roy \u2013 Director & Chief Investment Officer, Motilal Oswal Private Wealth<\/p>\n Mr. Saurabh Gadgil \u2013 Chairman & Managing Director, PNG Jewellers<\/p>\n Mr. Tehmasp Printer \u2013 Managing Director, IGI<\/p>\n Key Takeaways<\/p>\n \u2705 An IPO isn\u2019t just about raising funds \u2014 it\u2019s about purpose, preparation, and long-term vision.<\/p>\n \u2705 Legacy isn\u2019t enough; brands need scale, strategy, and solid compliance to win investor trust.<\/p>\n \u2705 Transparency and education are critical \u2014 especially when explaining India\u2019s unique jewellery ecosystem to global investors.<\/p>\n \u2705 The biggest challenge? Shifting from a family-run mindset to a boardroom-ready business model.<\/p>\n Session 2<\/strong><\/p>\n Women in Jewellery \u2013 Breaking Barriers, Building Legacy<\/strong><\/p>\n Speakers:<\/p>\n Ms. Khushboo Ranawat \u2013 Director, Swarnship Chains & Jewellery Pvt. Ltd.<\/p>\n Ms. Richa Singh \u2013 Managing Director, India & Middle East, Natural Diamond Council<\/p>\n Ms. Varuna D. Jani \u2013 Founder & Creative Head, Varuna D. Jani Fine Jewellery Pvt. Ltd.<\/p>\n Moderator:<\/p>\n Mr. Nirav Bhansali \u2013 Convener, National Exhibitions, GJEPC<\/p>\n Key Takeaways<\/p>\n \u2705 Women today back themselves \u2014 and each other \u2014 as they lead with confidence and clarity.<\/p>\n \u2705 Intuition and empathy give women a natural edge in understanding both business and design.<\/p>\n \u2705 Behind every successful woman is a strong support system \u2014 at home and at work.<\/p>\n \u2705 The industry is still male-led, but women are steadily rewriting the script.<\/p>\n \u2705 Passionate women designers have helped shift mindsets. The narrative has changed \u2014 jewellery is no longer just about aesthetics, it\u2019s about creating meaning and desire.<\/p>\n \u2705 Who better than a woman to understand and empower another woman? Female-led design brings depth, sensitivity, and strength. But true success lies in balance \u2014 the yin and yang.<\/p>\n Session 3<\/strong><\/p>\n Gold as a Safe Haven: Decoding the Current Price Rise<\/strong><\/p>\n Speaker:<\/p>\n Mr. Sachin Jain, Regional CEO India, World Gold Council set the tone for the panel discussion as he explored gold\u2019s role as a catalyst for growth.<\/p>\n Key Takeaways<\/p>\n \u2705 India is a gold powerhouse with 800 tonnes in annual demand, 2% of GDP, 15% of exports \u2014 with over 25,000 tonnes sitting in Indian households.<\/p>\n \u2705 Gold is outperforming. In 2024, gold beat most major asset classes in INR terms, reinforcing its role as a safe haven.<\/p>\n \u2705 The World Gold Council is future-facing. Swarnim Udaan 2047 aims to elevate gold\u2019s role across retail, investment, policy, and design in line with India@100.<\/p>\n \u2705 India must lead in innovation, not just tradition. The Global Gold Innovation Centre will focus on design, payments, logistics, and digital retail to modernise the value chain.<\/p>\n \u2705 Artisan empowerment is key. Training, social security, and world-class infrastructure are critical to uplifting the 3 million+ employed in the sector.<\/p>\n Panel Discussion Takeaways<\/p>\n Moderator:<\/p>\n Ms. Manisha Gupta, Group Commodities Editor, CNBC TV18<\/p>\n Speakers:<\/p>\n Mr. Sachin Jain, Regional CEO India, World Gold Council<\/p>\n Mr. K Srinivasan, Chairman and MD, Emerald Group<\/p>\n Mr. Darpan Anand, MD, Punjab Jewels<\/p>\n Mr. Shekhar Bhandari, President & Business Head of SME Banking, Kotak Mahindra Bank<\/p>\n \u2705 High gold prices are a \u201cgood problem\u201d. A 30% rise in the gold price is more manageable than a 30% crash. Demand has shifted, but value and margins have grown sharply.<\/p>\n \u2705 For Gen Z and millennials, jewellery must be meaningful, wearable, and stylish \u2014 not just traditional.<\/p>\n \u2705 Margins are up despite lower volumes. Manufacturers are leveraging technology and design to stay profitable, even as gold prices test consumer limits.<\/p>\n \u2705 Innovation is the need of the hour. Lighter weights, better tech, CNC tools \u2014 manufacturers are investing heavily in efficiency and creativity.<\/p>\n \u2705 Tokenisation, traceability & digital gold are gaining ground. Fractional ownership, blockchain-based authenticity, and transparency are becoming key to winning trust.<\/p>\n \u2705 India leads in gold jewellery consumption globally. In 2024, India surpassed China as the No. 1 market \u2014 a milestone driven by emotion, aspiration, and scale.<\/p>\n \u2705 Gold demand has a strong GDP link. Every 1% rise in GDP leads to a 0.9% rise in gold jewellery demand \u2014 showing its deep economic relevance.<\/p>\n \u2705 The future is fusion: finance + jewellery. As gold becomes more digital and transparent, its overlap with the financial world will only deepen.<\/p>\n \u2705 Legacy meets new ambition. Next-gen jewellers are entering the trade with fresh vision and embracing change \u2014 a promising shift for the industry.<\/p>\n Session 4 <\/strong><\/p>\n Beyond The Shine: Uncovering Challenges In Business & Investing<\/strong><\/p>\n Speaker:<\/p>\n Mr. Kalpen Parekh, Managing Director & CEO, DSP Asset Managers Pvt. Ltd.<\/p>\n Key Takeaways<\/p>\n \u2705 Money doesn\u2019t grow with activity, it grows with clarity. Wealth creation is about patience, understanding risk, and avoiding the trap of short-term noise.<\/p>\n \u2705 Your screen time is someone else\u2019s revenue. Data from Meta, Alphabet, and Amazon shows how we passively fund these giants \u2014 the question is: are we investing back into them?<\/p>\n \u2705 Even small, consistent investments grow into serious wealth. \u20b910L invested at 12% annually becomes \u20b93 crore in 30 years \u2014 or \u20b9490 crore in 75 years. It’s not fiction, it’s compounding.<\/p>\n \u2705 Don\u2019t underestimate boring, low-cost strategies. Liquid funds and disciplined investing \u2014 even over weekends \u2014 can outperform flashy bets in the long run.<\/p>\n \u2705 Avoid being a \u201csleeping partner\u201d in your own finances. Too many business owners ignore their own wealth planning. Active business focus must be matched with active personal investing.<\/p>\n \u2705 Most wealth is built after 50 \u2014 not by chasing, but by staying. The power of time, reinvestment, and disciplined holding was reinforced with real-world examples.<\/p>\n \u2705 The biggest risk is not understanding what you\u2019re investing in. Avoiding blind spots and emotional biases is key \u2014 behaviour trumps knowledge in wealth creation.<\/p>\n \u2705 Everyone reads the headline, few read the fine print. A live exercise on following instructions highlighted how easily we skim through details \u2014 the same applies to investing.<\/p>\n Session 5<\/strong><\/p>\n How to Build a Profitable Lab-Grown Diamond Brand<\/strong><\/p>\n Moderator:<\/p>\n Ms. Manisha Gupta, Group Commodities Editor, CNBC TV18<\/p>\n Panellists:<\/p>\n Mr. Ricky Vasandani, CEO, Solitario Diamonds<\/p>\n Mr. Parag Agarwal, Co-Founder, Fiona Diamonds<\/p>\n Ms. Pooja Madhavan Sheth, Founder & MD, Limelight Diamonds<\/p>\n Mr. Adit Bhansali, Co-Founder, Firefly Diamonds<\/p>\n Key Takeaways:<\/p>\n \u2705 Lab-grown and natural diamonds can coexist. The future is not \u201ceither-or\u201d \u2014 both categories have distinct audiences, with lab-grown offering access, affordability, and experimentation.<\/p>\n \u2705 The market has shifted from education to competition. What began as a niche category is now a fast-growing, highly fragmented space. Competition validates the category, but fragmentation makes branding and pricing tougher.<\/p>\n \u2705 Scaling depends on positioning, not just product. Profitability isn\u2019t just about margins \u2014 it hinges on brand trust, narrative, and perceived value. Some brands are scaling rapidly via franchise models by building consumer belief.<\/p>\n \u2705 Customers buy emotion, not just value. While resale remains a challenge, brands are leaning into emotional storytelling and design innovation to make lab-grown a lifestyle choice \u2014 not just a price-driven purchase.<\/p>\n \u2705 The pitch has matured. Consumers are responding less to technical comparisons and more to meaningful experiences, aesthetics, and sustainability-led stories.<\/p>\n \u2705 There\u2019s no central industry body yet \u2014 and maybe that\u2019s okay. Panellists argued that, like fashion or watches, lab-grown success will come from brand-led narratives, not commodity-level marketing.<\/p>\n \u2705 Challenges persist \u2014 pricing pressure, fragmentation, and perception gaps. Brands must focus on retention, innovation, and storytelling to avoid commoditisation and keep consumers emotionally engaged.<\/p>\n \u2705 Sustainability is a strong differentiator \u2014 when backed by credibility. Environmental consciousness is a growing hook, but needs to be paired with transparency and trust to truly influence behaviour.<\/p>\n \u2705 Long-term survival depends on constant evolution. The brands that win will be those who keep adapting to customer expectations, strengthen loyalty, and stay relevant \u2014 not just affordable.<\/p>\n Session 6<\/strong><\/p>\n Building With Balance: Scaling A Funded Tech Company With A Bootstrapped Mindset<\/strong><\/p>\n Speakers:<\/p>\n Atik Shah & Ashin Shah of MProfit<\/p>\n Key Takeaways:<\/p>\n \u2705 Solve real problems first, funding later. MProfit focused on product-market fit and customer pain points for 13 years before raising any capital.<\/p>\n \u2705 Stay grounded\u2014even after raising funds. Scaling with a bootstrapped mindset means being cost-conscious, purpose-driven, and focused on long-term sustainability.<\/p>\n \u2705 Customer feedback beats assumptions. Building based on real user insight\u2014not trends\u2014was core to MProfit\u2019s evolution and tech pivots.<\/p>\n \u2705 Choose investors like you choose co-founders. Aligning with like-minded capital partners is as important as the money itself.<\/p>\n \u2705 Empowering HNIs and family offices with clarity. MProfit helps users track all assets\u2014from PMS to AIFs\u2014via automated onboarding, performance insights, and seamless tax reporting.<\/p>\n \u2705 Profitability over hype. The team prioritised efficiency, accountability, and product depth\u2014proving that slow and steady can still win in tech.<\/p>\n Session 7<\/strong><\/p>\n Speaker:<\/p>\n Amit Barve of Rayzon Solar<\/p>\n Key Takeaways:<\/p>\n \u2705 Solar energy is abundant, clean, and decentralised. Solar is omnipresent, emission-free, low-maintenance, and one of the fastest-deploying power sources globally.<\/p>\n \u2705 Rayzon Solar\u2019s rapid scale-up reflects India’s green energy ambitions. From 40 MW in 2018 to 6000 MW by 2024, with further expansion underway \u2014 the company\u2019s exponential growth aligns with India’s renewable targets.<\/p>\n \u2705 Policy tailwinds are accelerating solar adoption. Govt schemes like PLI, RECs, and PM Surya Ghar Yojna are creating strong incentives for domestic manufacturing and clean energy adoption.<\/p>\n \u2705 Vertical integration is the next frontier. Rayzon is now building capacity in solar cells, aluminium extrusion, and anodising \u2014 aiming for full-scale control of its supply chain.<\/p>\n \u2705 India\u2019s 2030 solar target of 270 GW is driving massive industry opportunities. Companies aligned with sustainability and scale are well-positioned for global relevance.<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The future of India\u2019s gem and jewellery industry came alive at the launch of InnovNXT 40 Under 40 in Mumbai on 25th June 2025 \u2014 a dynamic initiative by the Gem & Jewellery Export Promotion Council (GJEPC), the apex body for the gem and Jewellery industry in India, aimed at recognising and empowering its next…<\/p>\n","protected":false},"author":1,"featured_media":32431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91,113],"tags":[],"thb-sponsors":[],"class_list":["post-32430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-national"],"acf":[],"yoast_head":"\n