In parallel, the central government has introduced the Diamond Imprest Licence, a move that will benefit MSME diamond exporters by allowing them to import at least 5% of their average export turnover from the past three years. This measure aims to level the playing field for smaller Indian diamond exporters and curb the outflow of investment to diamond mining regions. It is also anticipated to create more jobs in diamond sorting and processing.

Dr. Harshdeep Kamble, Principal Secretary (Industries) of Maharashtra, emphasized the state’s commitment to promoting 'smart jewellery manufacturing' through technological advancements. Speaking at the India International Jewellery Show Premiere, organized by the Gem and Jewellery Export Promotion Council (GJEPC), Kamble highlighted Maharashtra’s potential to lead in this new industrial era.

The planned exhibition and convention centre will serve as a hub for showcasing products to international buyers, further supporting the industry’s growth.

GJEPC Chairman Vipul Shah expressed confidence in the industry's ability to drive innovation and expand into new markets, with a long-term goal of achieving $100 billion in gem and jewellery exports by 2047.

The IIJS Premiere event features a diverse range of products, including diamond, gemstone, and studded jewellery, as well as lab-grown diamonds, silver jewellery, and industry-related technology.

These initiatives are expected to be detailed in the new industrial policy set to be unveiled in September