(PRESS RELEASE) MUMBAI — IIJS Bharat Signature 2026 witnessed a defining moment for India’s gem and jewellery industry with the launch of JewelStart, GJEPC’s first dedicated incubation and acceleration platform for gems, jewellery and allied startups. Unveiled at the show in Mumbai, JewelStart signals a deliberate move to embed structured innovation, entrepreneurship and technology-led problem solving into the industry’s growth story.
Conceived as an industry-led incubation platform, JewelStart has been designed to address the specific needs of the gem and jewellery value chain. The initiative aims to enable start-ups, MSMEs to transform ideas into scalable, market-ready enterprises, while fostering collaboration between industry, academia, investors and government bodies. Through this initiative, GJEPC seeks to further reinforce India’s position as the “Jeweller to the World.”
On the occasion, GJEPC also signed a series of strategic Memorandums of Understanding (MoUs) to strengthen the JewelStart ecosystem and enable multi-stakeholder collaboration. The MoUs were signed between GJEPC and Mr. Shaji Varghese, CEO, Society for Innovation and Entrepreneurship (SINE), IIT Bombay, Mr. Amresh Panigrahi, Senior Professor and PhD Scholar, National Institute of Design (NID), Ahmedabad, Mr. Hitesh Sachdev, Head – Startup Engagements and Investments, ICICI Bank Ltd, Mr. Narayanan Naduvath, State Operation Head, IndusInd Bank Ltd. and Mr. Mitesh Shah, Co-founder, IPV.
Addressing the gathering, Dr. Tariq Thomas, Director, Department of Commerce, said, Ministry of Commerce and Industry, said the pace of change confronting the gem and jewellery sector makes innovation unavoidable. “The government is actively encouraging innovation-led ecosystems across sectors, and initiatives like JewelStart align with that larger direction. The industry is operating in an environment of constant volatility, from trade disruptions to shifting consumer preferences. Traditional ways of managing challenges may no longer be sufficient. Platforms like JewelStart create a space where young innovators can engage directly with industry problems and build solutions that strengthen resilience, scale and long-term competitiveness.”
Mr. Kirit Bhansali, Chairman, GJEPC highlighted, “As India moves towards its vision of becoming a USD 100-billion jewellery export powerhouse, the industry must evolve beyond legacy systems. JewelStart is a movement designed to infuse agility, and digital-first innovation into the jewellery ecosystem. Backed by India’s rapidly growing startup economy and strong institutional support, JewelStart will bridge heritage craftsmanship with indigenous technology, democratizing innovation for the entire industry and strengthening India’s position as the jeweller to the world.”
“We studied startup ecosystems across technology, manufacturing and design institutions before building JewelStart. What we are launching today is informed by that learning but grounded in the realities of the gem and jewellery sector,” Bhansali added.
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Speaking on the launch, Mr. Sabyasachi Ray, Executive Director, GJEPC, said, “India today is the predominant global leader in diamonds and coloured gemstones, and a rapidly emerging force in gold and studded jewellery exports. However, to serve a new world of discerning consumers—with evolving tastes, values, and expectations—our industry must move faster, think smarter, and innovate deeper. To lead the next era, we must blend manufacturing and design expertise with innovation, technology, sustainability and entrepreneurship. This is why building a strong startup and R&D ecosystem for our industry is no longer optional – it is a strategic necessity. Through this initiative, we are creating a bridge between ideas and global enterprises, providing entrepreneurs with access to mentorship, markets, capital, policy support and data-driven insights. We are not just incubating businesses; we are shaping the future of Brand India in the global gem and jewellery landscape.”
He added that as India works towards ambitious export goals, innovation must become accessible to MSMEs and young entrepreneurs, not restricted to large organisations with in-house resources.
The program architecture of JewelStart rests on three clear pillars: market access, mentorship and capital. Startups selected under the initiative will gain direct exposure to GJEPC’s global trade platforms such as IIJS Bharat Premiere, IIJS Bharat Signature and IIJS Bharat Tritiya, along with guidance from industry leaders, investors and domain experts. The model is intended to help founders move from concept to commercial readiness with speed and relevance.
JewelStart will operate through a structured, multi-stage journey, starting with problem identification sourced directly from industry stakeholders. These problem statements will be opened up to entrepreneurs, designers and technologists, encouraging solutions that are practical, scalable and commercially viable. Selected startups will move through incubation, prototype development, market testing and eventual scale-up, supported by GJEPC’s infrastructure and network.
With the launch of JewelStart, GJEPC has placed startups and innovation firmly within the industry’s mainstream conversation. As the program rolls out its first cohort and industry-led challenges in the coming months, JewelStart is expected to play a vital role in influencing how India builds its next generation of jewellery enterprises, combining legacy with new thinking at scale.
