Get insights from 50th India Gem & Jewellery Awards 2024, hosted by GJEPC. Unveil key takeaways from the event shaping diamond industry growth & opportunities.
The India Gem & Jewellery Awards (IGJA), established by the GJEPC five decades ago, aims to recognize the outstanding achievements of leading exporters in the gems and jewellery sector. Evaluated based on various parameters, including export performance, value addition, employment generation, and investment in R&D, the IGJA has become a symbol of excellence in the industry since its inception in 1974.
Each year, the IGJA celebrates the best performers in the gem and jewellery industry, highlighting their entrepreneurial spirit and innovative contributions. The prestigious awards ceremony honours companies and individuals whose efforts have significantly contributed to the industry's success and growth. This year, a total of 24 awards were presented, including Industry Performance Awards, Special Recognition Awards, Felicitation Awards, and a special award for the bank supporting the Gems & Jewellery Industry.
The IGJA is powered by GIA - Gemological Institute of America, renowned worldwide for its expertise in gemology. The 50th edition of the IGJA was graced by distinguished guests, including Ramesh Bais, Governor of Maharashtra State, and business tycoon Mukesh Ambani, Chairman & MD of Reliance Industries Ltd, who praised the achievements of diamond exporters and congratulated the award winners for their exemplary performance.
Key Takeaways from the Event
Market Potential: Shri Mukesh Ambani's mention of the industry's potential to double its global market share suggests promising opportunities for diamond owners in terms of market expansion and increased demand for diamond products.
Innovation and Quality: Emphasizing the industry's focus on innovation-led growth, Shri Mukesh Ambani highlights the importance of diamond owners investing in innovative processes and maintaining high product quality to stay competitive in the market.
Recognition of Excellence: Shri Vipul Shah's remarks on celebrating individual achievements within the industry underscore the importance of recognizing excellence among diamond owners. This recognition can boost morale and motivate diamond owners to strive for continuous improvement.
Commitment to Sustainability: Shri Kirit Bhansali's mention of the industry's commitment to sustainability reflects an important trend that diamond owners should embrace. Investing in sustainable practices, such as ethical sourcing and environmental responsibility, can enhance the industry's reputation and appeal to conscientious consumers.
Talent Development: The acknowledgment of talent and mentorship within the industry, as seen in the 50th Edition IGJA, highlights the importance of nurturing skilled professionals within the diamond sector. Diamond owners should prioritize talent development initiatives to ensure a skilled workforce capable of driving industry growth and innovation.
The 50th Edition IGJA recognised every sector contributing to the gems & jewellery industry in their way while felicitating, identifying and nurturing talent and mentorship in the industry (large players as well as M/SMEs)
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