Jewellery Industry Employs Over 5 Million Indians, Says Gautam Adani

India accounts for 26.5 per cent share in the global cut-and-polished diamond market, while the country’s share in the silver jewellery stood at 30 per cent, the entrepreneur said

Gautam Adani on Saturday said that the gems and jewellery industry in India needs to adapt to the changing world. The chairman of the Adani Group suggested the industry executives to focus on innovation, sustainability, and technology to thrive in the future.

Speaking at the India Gem & Jewellery Awards in Jaipur on Saturday, the industrialist said that the jewellery industry provides employment opportunities to more than 5 million Indians. He added that the industry provides boost to the economiy.

India accounts for 26.5 per cent share in the global cut-and-polished diamond market, while the country’s share in the silver jewellery stood at 30 per cent, the entrepreneur said. He pointed out that the recent decline in exports of 14 per cent should be treated like a wake-up call by the industry.

Pointing out the factors for growth, Adani said, “The rise of lab-grown diamonds, the demand for transparency and ethical practices, shifting consumer priorities, and the digital wave are not just disrupting the status quo; they are creating a new blueprint necessary for success. This is therefore our moment to lead. The industry must think differently, act urgently, and innovate courageously.”

Talking about the path ahead for the industry, he said, “Beyond traditional gems, the concept of jewellery itself is shifting. Watches, smartphones, and wearables are becoming the new personal status symbols, redefining luxury. Younger generations, in particular, are preferring technology and experiences over conventional luxury goods. Another trend reshaping the market is the growing demand for unique, customized pieces, sparking a rise in custom design services. With technologies like 3D printing, CAD software, Virtual Reality, and Augmented Reality, the process of designing, manufacturing, and experiencing jewellery is on the brink of transformation.”

He urged the industry to look into these challenges and adapt to evolving consumer behaviours. He noted that it was crucial to embrace technology and sustainability as ‘the twin pillars of progress’. He added that technology will accelerate the possibilities for business, while sustainability will help ensure that the growth remains enduring and responsible.

Sharing his suggestion to the industry, he said that workforce needs to be uplifted and empowered to bring in the transformation in the industry. He proposed that artisans and craftsmen need access to new tools, innovative training, and digital platforms to thrive in the modern world.

“The younger generation brings fresh ideas, unshakeable energy, and a willingness to disrupt the old ways of thinking. We must nurture them, and equip them to balance tradition with transformation, culture with innovation, and legacy with sustainability. They are not just participants in the future – they are its architects,” the industrialist noted.