Gautam Adani makes BIG statement, says decline in exports of…a ‘wake-up call’, urges businesses to…

Gautam Adani termed India, which boasts a 26.5% share in the global diamond market, a “jewel in the global crown of the cut-and-polished diamond market”, but expressed concern about the recent 14% drop in exports saying “its not just a statistic, but a wake-up call.

Gautam Adani makes BIG statement, says decline in exports of...a 'wake-up call', urges businesses to...
Gautam Adani (File)

Billionaire Gautam Adani on Sunday said the decline in India’s jewellery exports is a wake-up call and presents a challenge to businesses to change their approach. Addressing the 51st Gem & Jewellery Awards in Jaipur, the Adani Group Chairman called upon diamond businesses to shift their focus towards technological innovation and  sustainability through the manufacture and sale of lab grown diamonds.

Adani termed India, which boasts a 26.5% share in the global diamond market, a “jewel in the global crown of the cut-and-polished diamond market”, but expressed concern about the recent 14% drop in exports saying “its not just a statistic, but a wake-up call which signals a turning point where challenges, both temporary and permanent, demand that we reimagine our approach.”

Gautam Adani emphasized the need for new innovations in technology and ethical sustainability, which are required to success in the modern era. “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,” he said.

The business tycoon pointed to the recognition of lab-grown diamonds as real diamonds by the US Federal Trade Commission, saying that artificially-made diamonds are a “market disruptor” as they cost a lot less than natural diamonds.

Adani said that advancement in artificial Intelligence technology and material science will be used in the near future to improve the quality and precision of lab-made diamonds, and the day is not far when India will design its own diamonds. “It’s not far-fetched to imagine a future where we design our own diamonds – specifying every detail, from cut to colour, clarity, and carat weight – making each piece uniquely personal. This is the future we must embrace.”

The billionaire businessman also pointed out how technologies such as 3-D printing, designing software, virtual reality, and augmented reality were transforming the process of designing, manufacturing, and experiencing jewellery.

“These trends force us to rethink what we produce. They challenge us to create deeper emotional and traditional connections in line with changing consumer needs and behaviours,” said Adani.




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