GJEPC presents 50th India Gem & Jewellery Awards (IGJA) to the Brightest Jewels in India’s Exports’ Crown

Maharashtra’s Governor Shri Ramesh Bais & Shri Mukesh Ambani (CMD, Reliance Group) grace GJEPC’s 50th IGJ Awards

Shri Russell Mehta (Rosy Blue) bestowed with Lifetime Achievement Award 

24 IGJ Awards included Women Entrepreneur of the Year & Best Bank 

NATIONAL 31st MARCH 2024 (GSN): The Gem & Jewellery Export Promotion Council (GJEPC) presented the coveted 50th India Gem & Jewellery Awards (IGJA), to the brightest jewels in India’s exports’ crown. GJEPC presented a total of 24 IGJ Awards: 14 - Industry Performance Awards; 7 - Special Recognition Awards; 2 - Felicitation Awards; and 1- Bank supporting the Gems & Jewellery Industry Awards. IGJA is powered by GIA - Gemological Institute of America, The World's Foremost Authority in Gemology.

Since its inception in 1974, the IGJA has been an emblem of excellence in the gem and jewellery industry, recognizing the entrepreneurial spirit and innovation that propel the industry forward. Every year, IGJA honors the best of the best, showcasing the pinnacle of achievement in the gem and jewellery sector. This prestigious ceremony celebrates companies and partners whose contributions have made the industry a shining example of export excellence. IGJA has evolved over the years to embrace new categories, including social responsibility, innovation, and entrepreneurship, reflecting the dynamic nature of our industry.

Shri Ramesh Bais, Hon. Governor, Maharashtra State, was the chief guest for the magnificent awards ceremony and Business tycoon Shri Mukesh Ambani (Chairman & MD, Reliance Industries Ltd) graced GJEPC’s 50th edition of the IGJ Awards as Guest of Honour. Representing GJEPC were: Shri Vipul Shah, Chairman, GJEPC; Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Anoop Mehta, President, Bharat Diamond Bourse; Shri Milan Chokshi, Convener, Promotions & Marketing, GJEPC; and Shri Sabyasachi Ray, Executive Director, GJEPC. Shri Sriram Natarajan (Managing Director, GIA India) was also present along with the who’s who, captains and doyens of India’s gem & jewellery exports’ industry. 

Shri Russell Mehta, MD, Rosy Blue (India), was bestowed with the Lifetime Achievement Award for his exemplary/ impeccable contribution and serving as an inspirational model in the world of Gems & Jewellery. Shri Ramesh Bais, Hon. Governor, Maharashtra State, gave the award in the presence of Shri Mukesh Ambani (Chairman & MD, Reliance Industries Ltd).

Shri Ramesh Bais, Hon. Governor, Maharashtra State, said, “I am pleased to know that the Gem & Jewellery Export Promotion Council (GJEPC) is organising the India Gem & Jewellery Awards function in Mumbai on 30" March 2024. The Indian Gem and Jewellery industry accounts for 7 per cent of India's GDP and employs more than 5 million skilled and semi-skilled workforce. It is heartening to note that Maharashtra is a major hub for gem and jewellery exports. The GJEPC is playing a significant role in promoting Brand India through its multifaceted work for the industry and its members. I am sure, members of the Council will make their maximum contribution in realizing India’s goal of achieving a 5 trillion dollar economy. I congratulate all the awardees who are being honoured at the GIEPC 50th India Gem & Jewellery Awards and wish the Council success in its future endeavours.”

While addressing a packed hall of diamond, gem and  jewellery trade, Shri Mukesh Ambani, CMD, Reliance Group, said, “I admire all that diamond exporters have achieved as you represent the true meaning of entrepreneurship and enterprise. I wish to extend my warm and heartfelt congratulations to all distinguished award winners in the 50th India Gem & Jewellery Awards. The golden jubilee of these prestigious awards not only signifies a proud milestone for the Gem & Jewellery Export Promotion Council (GJEPC), but it also highlights both the grand heritage and the dazzling future of the Indian gems and jewellery industry.

Evolving remarkably over the years, the industry has emerged as a leading player in the global luxury market, as well as a pivotal contributor to India’s export economy. It has also become a major generator of large-scale employment opportunities. Thanks to this industry’s unremitting focus on innovation-led growth, the world today stands in awe of the power of Indian design, the creativity of Indian designers, the quality of Indian materials, and the sheer range of India’s aesthetics in products that cater to diverse customers. As a result, the industry is poised to more than double its share in the global market in the coming years.

At the heart of this success lies GJEPC’s relentless efforts and visionary leadership that has propelled the industry to such lofty heights. The GJEPC has championed the cause of Indian gems and jewellery on the global stage, and has also played a crucial role in nurturing research, ensuring sustainable practices, and facilitating skill development within the sector. The jewellery industry’s remarkable resilience and adaptability, particularly during uncertain economic periods, is proof of the stellar role played by the GJEPC.

I am confident that, with the GJEPC continuing to provide strategic guidance and encourage innovation, the talent and the passion of our entrepreneurs and professionals will propel the Indian gems and jewellery industry to greater heights. I am confident that India’s gem & jewellery industry will touch the 100 billion dollar mark within the next few years.”

On this occasion Shri Vipul Shah, Chairman, GJEPC, said, “Today, India stands tall as a global leader in the gem and jewellery sector. Our exports continue to rise, our domestic market flourishes, and our artisans inspire the world with their intricate creations. This progress is a direct reflection of the hard work, dedication, and collective vision of the industry stakeholders. GJEPC’s dedication in championing and advancing this dynamic industry has been pivotal in solidifying India's stature as a key player in the global gem and jewellery market. The global marketplace is dynamic, and the Indian gem and jewellery industry must embrace innovation, sustainability, and responsible sourcing to maintain its competitive edge. As we mark the 50th India Gem & Jewellery Awards (IGJA), we not only applaud the remarkable achievements of individual exporters but also acknowledge the collective endeavours of the industry at large. The 50th IGJA ceremony is a significant milestone, reflecting the Council's remarkable dedication and leadership in nurturing the industry's growth and success.

Moving forward, the industry's trajectory aligns closely with our Honourable Prime Minister Shri Narendra Modi's vision of a prosperous and sustainable India or Viksit Bharat. GJEPC has been wholeheartedly committed to this cause, actively undertaking initiatives to drive growth and sustainability. These efforts not only contribute to the industry's expansion but also ensure its alignment with the principles of Viksit Bharat,” added Shri Shah.

Shri Kirit Bhansali, Vice Chairman, GJEPC, added, “A proud moment for all of us today as we celebrate the 50th anniversary of the India Gem and Jewellery Awards. Over the past five decades, our industry had come a long way, growing stronger with each passing year. Today, India is the preferred sourcing destination for gems and jewellery for the world. The impressive annual exports of gem and jewellery industry, valued at USD 40 billion, showcase the dedication and ambition of every exporter who dared to dream big.” 

Shri Sriram Natarajan, Managing Director of GIA India said, “I am honored to extend my heartfelt congratulations to GJEPC on the Golden Jubilee of its India Gem & Jewellery Awards (IGJA). This is a significant milestone in our industry’s history, and the dedication and commitment shown by GJEPC in recognizing excellence within the gem and jewelry sector is truly commendable. We collaborate with GJEPC on several key initiatives that help in ensuring the continued growth and prosperity of the Indian gem and jewelry industry.”

The 50th Edition IGJA recognised every sector contributing to the Gems & Jewellery Industry in their own way while felicitating, recognizing & nurturing talent and mentorship in the industry (large players as well as M/SMEs) – winners included names such as Renaissance Global Ltd., Vaibhav Global Ltd., Emeral Jewel Industry India Ltd., Laxmi Diamond, Kiran Gems, Kiran Exports, Hasmukh Parekh Jewellers, Ashok Jewellers, Jewelex India, Kiran Jewellery, Shree Momai Krupa Jewellery, Dhanera Diamonds, Oopal Diamonds, Amrapalli Exports, Industrial Jewels, Green Lab Diamonds among others.

Mrs. Heena Vimal Dhorda from M/s Shree Aavad Kruppa Jewellery won the Lifetime Achievement Award. Mrs. Foram Mehul Dhakan from M/s Shree Aavad Kruppa Jewellery won the Woman Entrepreneur of the Year. 

Indusind Bank Ltd. won the Best Bank Financing the Gem & Jewellery Industry (Highest growth of limit sanctioned with minimum base of Rs. 500 crore).    

Winner List 2022-23

Sr. No	Award Category	Name of the Award	Name of the Winner
1	Felicitation Awards	Lifetime Achievement Award	Russell Mehta
2	Special Recognition Awards	Highest Taxpayer Company	Kiran Gems
3	Highest Turnover	Kiran Gems
4	Industry Performance Awards	Cut & Polished Diamonds (Large) Exports Rs. 1000 Crore & above	Kiran Gems
5	Cut & Polished Diamonds (Medium) Exports Above Rs. 250 crore upto Rs. 1000 crore	Dhanera Diamonds
6	Cut & Polished Diamonds (Small) Exports Below Rs. 250 crore	Oopal Diamonds
7	Precious Metal Jewellery - Plain (Large) Exports Above Rs. 250 crore	Hasmukh Parekh Jewellers
8	Precious Metal Jewellery - Plain (Medium) Exports Above Rs. 100 crore upto Rs. 250 crore	Ashok Jewels Pvt Ltd
9	Precious Metal Jewellery - Studded (Large) Exports Above Rs. 500 crore & above	Jewelex India Pvt Ltd
10	Precious Metal Jewellery - Studded (Medium) Exports Above Rs. 100 crore up to Rs. 500 crore	Kiran Jewellery
11	Precious Metal Jewellery - Plain & Studded (SME) Exports Below Rs. 100 crore	Shree Momai Krupa Jewllery
12	Silver Jewellery	Renaissance Global Limited
13	Cut & Polished Colored Gemstones	Vaibhav Global Limited
14	Costume/ Fashion Jewellery	Amrapali Exports
15	Cut & Polished Synthetic Stones	Industrial Jewels Private Limited
16	Lab Grown Diamond (Highest exports)	Green Lab Diamonds
17	Most Socially Responsible Company (CSR)	Laxmi Diamond Private Limited
18	Special Recognisation Awards	Highest Employment on the Company Rolls	Emerald Jewel Industry India Limited
19	Highest Gems & Jewellery Sales (Importer) - USA and Canada	Unique Designs Inc
20	Highest Gems & Jewellery Sales (Importer) - Asia (other than India)	Kiran Exports (Hong Kong) Limited
21	Highest Gems & Jewellery Sales (Importer) – Europe	Kiran Exports NV
22	Award for Best Innovative Marketing and Branding Campaign Overseas	Kiran Gems
23	Felicitation Awards	Woman Entrepreneur of the year	Mrs. Heena Vimal Dhorda from M/s Shree Aavad Kruppa Jewellery and Mrs. Foram Mehul Dhakan from M/s Shree Aavad Kruppa Jewellery
24	Banks and Agencies Supporting the Gems and Jewellery Industry Awards	Best Bank Financing the Industry (Highest Growth of limit sanctioned with Minimum base of Rs 500 crore)	Indusind Bank Ltd

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today over 10,000 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

Facebook: www.facebook.com/GJEPC

Instagram: www.instagram.com/gjepcindia
Youtube: www.youtube.com/gjepcindia
Twitter: www.twitter.com/GJEPCIndia 

Sonam Kapoor graces GJEPC’s 7th Artisan Jewellery Design Awards 2024; Celebrates & Honours Design & Craftsmanship

NATIONAL, 14th FEBRUARY, 2024 (GSN): The 7th edition of The Artisan Jewellery Design Awards, hosted by the Gem & Jewellery Export Promotion Council (GJEPC) and powered by GIA, challenged designers to tap uncharted territory by integrating unusual materials and cherished objects into their jewellery designs, to infuse their pieces with a unique identity. 

Actress and style icon Sonam Kapoor graced GJEPC’s 7th edition of Artisan Jewellery Design Awards in Mumbai and presented awards to winners. Sonam Kapoor graced the stage with an aura of elegance and charisma along Mr. Vipul Shah (Chairman, GJEPC); Mr. Kirit Bhansali (Vice Chairman, GJEPC); Mr. Sriram Natarajan (Managing Director, GIA India); Mr. Milan Chokshi (Convener, Promotions & Marketing, GJEPC); Mr. Sabyasachi Ray (Executive Director, GJEPC) bestowed the coveted awards upon 6 Artisan winners. 

This year the theme for the Artisan Jewellery Desing Award were two unconventional themes - ‘Objet Trouvé’ (Found Objects) and ‘Unusual Materials’. 

The concept of 'Objet Trouvé' centred around crafting jewellery pieces that capture the essence of treasured objects from the past within a contemporary context. While the second theme, ‘Unusual Materials’ encouraged designers to create a dialogue between the familiar and the unexpected by combining contrasting materials with at least 50% precious materials. 

Actress & style icon Sonam Kapoor said, “I am proud to be a part of the jewellery industry, which showcases India’s excellence in design and craftsmanship to the world. The Artisan Awards is a great initiative by the GJEPC to nurture and celebrate young talent, who are pushing the boundaries of creativity and innovation. I believe that jewellery is not just an accessory, but an art form that expresses one’s personality and style. I admire the Indian designers who create stunning pieces that blend tradition & modernity, and inspire women to experiment with different forms and colours. For me, the artistic value of a jewellery piece is more than the material value, and that is what makes it truly precious.”

Vipul Shah, Chairman, GJEPC, notes, “The Artisan Jewellery Design Awards, now in its 7th edition, stands as a beacon for creative expression in the jewellery design realm. It offers a coveted platform for talented individuals to unleash their creativity and showcase their innovative designs. Each year, this competition brings forth exclusive, never-seen-before masterpieces that underscore the boundless innovation within our industry. This this competition, our aim is to redefine the landscape of jewellery design and elevate India as a premier design centre. Aligned with the government’s Make in India campaign, The Artisan Awards reinforces GJEPC's dedication positioning India as a leader in design innovation.”

Milan Chokshi, Convener, Promotions & Marketing, GJEPC, said, “Fine jewellery is the foremost amongst all art forms, revered for not only its craft and material value, but also its  emotional and aesthetic resonance. It transcends mere material worth, personifying a labour of love for the designer and artisan who infuse it with life through their skilled craftsmanship. There is an ever growing group of discerning customers that are now increasingly looking at jewellery more as an art form, rather than ornamental. The entries in this edition of The Artisan have been particularly inspiring, and we at the Council, are confident that passing the baton to future designers will drive Indian jewellery design to new heights.”

This jewellery design contest ignited a spark a wave of creativity, prompting nearly 600 participants from India and abroad to push the envelope, and create a new design grammar. The outcome surpassed expectations, breathtaking creations that challenged convention.

The list of winners

UNUSUAL MATERIALS: Winner – Cufflinks designed by Aparna Kesarkar and manufactured by Laxmi Dia Jewel Pvt. Ltd.; First Runner-up – Bracelet designed by Ahalya Vijayakumar and manufactured by VBJ; Second Runner-up – Earrings designed by Dipali Ghadigaonkar and  manufactured by KP Sanghvi Jewels Pvt. Ltd.

OBJET TROUVÉ: Winner – Earrings designed by Yamini Devasree and manufactured by VBJ; First Runner-up – Hairstick designed by Rashmi Kaushik and manufactured by Kiran Jewels; Second Runner-up – Earrings designed by Vijay Indulkar and Manufactured by Walking Tree Venture Pvt. Ltd.

The entries underwent thorough scrutiny by a distinguished jury comprising Alice Cicolini, a renowned UK jewellery designer; Biren Vaidya, Managing Director of The Rose Group; Payal Singhal, Fashion Designer; Apoorva Deshingkar, Senior Director of Education and Market Development at GIA India; and Toktam Shekarriz, a jewellery designer based in Dubai.

The technical jury included Devinder Layal, Jewellery Artiste and Educationist; Meenal Choksi, Head of Design, Moksh Fine Unseen Jewellery; Sushama Kalzunkar Sawant, PD & Merchandising Head, Diagold Creation; Janki Choksi, Founder, Janki Choksi Designs; Gunjan Sapra, COO & Head of Department, Jewellery Designs, International Institute of Gemology, and a GIA Instructor, to honour the best and most talented jewellery designers.

During this illustrious event, GJEPC also honoured industry stalwarts whose remarkable contributions have made a lasting impact on both the domestic and global fronts. The nominations were evaluated by a distinguished three-member jury comprising Arundhati De, jewellery expert and bespoke jewellery shopping consultant; Devinder Layal and Sushma Kalzunkar Sawant. 

Farah Khan, renowned jewellery designer, was honoured with the Design Excellence Award, while Rahul Jhaveri, Creative Head and Co-founder of Studio Renn, was bestowed with the prestigious Global Indian Jewellery Designer award.

Intergem Exports (YS18) was chosen as the proud recipient of the Manufacturing Excellence Award, underscoring its commitment to quality and innovation, while Birdhichand Ghanshyamdas Jewellers was acclaimed with the Retail Excellence Award for its exceptional standards and customer service.

Here’s the verdict of the jury for The Artisan finalists:

Sriram Natarajan, Managing Director, GIA India:  GIA India is pleased to support The Artisan Awards – a platform that fosters a space where creativity in jewellery design thrives. Embracing the themes of 'Unusual Materials' and 'Objet Trouve,' this initiative by the Gem and Jewellery Export Promotion Council (GJEPC) aligns with our commitment to pushing artistic boundaries. Our continued support reflects the shared values of celebrating creative expression and advancing jewellery designing arts on a global scale.

Biren Vaidya, Managing Director, The Rose Group, said, “Judging the Artisan Awards has been a riveting experience, witnessing the evolution of creativity in our field over the last four decades and observing how the participants have conceptualised the story from ideas to designs, crafting them into jewels using innovation, skill, and craftsmanship. 

Alice Cicolini, Avant-garde UK jewellery designer, said, “The freedom afforded to India’s young designers through these themes is commendable. Having worked in India for nearly two decades, I can attest that it stands as one of the most extraordinary nations for jewellery production, boasting incredible craftsmanship. It is refreshing to see young jewellery designers break free from traditional constraints, allowing their imaginations to take flight—an approach actively encouraged by institutions like GJEPC.” 

Fashion Designer Payal Singhal said, “The Artisan Awards highlight a remarkable standard. The ability to work with challenging materials and produce versatile, aesthetically pleasing, and finely crafted jewellery is a testament to the high level of expertise present in our country. As for elevating jewellery into wearable art, initiatives like The Artisan play a crucial role. Supporting and motivating young designers and jewellery brands to embrace this perspective will contribute to the evolution of jewellery as a form of artistic expression rather than merely a complement to attire or a symbol of status.”

The two-day art festival was held on February 12th-13th, 2024, at Ice Factory, Ballard Estate, Mumbai, and drew a diverse audience including curators, art gallery owners, patrons, art school students and faculty members, socialites, celebrities, connoisseurs, architects, painters, sculptors, and jewellery designers.

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today around 9,600 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

Facebook: www.facebook.com/GJEPC
Instagram: www.instagram.com/gjepcindia
Youtube: www.youtube.com/gjepcindia
Twitter: www.twitter.com/GJEPCIndia 

GEM AND JEWELLERY EXPORT PROMOTION COUNCIL (GJEPC) The Artisan Jewellery Design Awards 2024 Highlights -

Among the highlights of the event were the six winning pieces that captured the attention of attendees:

UNUSUAL MATERIALS

Winner 

Crafted from fine leather, moss agate, gold and diamonds, the pair of reversible pair of cufflinks features a discreetly positioned SIM card chip tying up fashion and function. 

Designed by Aparna Kesarkar; Manufactured by Laxmi Dia Jewel Pvt. Ltd.

First Runner-up

The curvaceous black gold bracelet is designed with areca palm leaves and studded with diamonds. 

Designed by Ahalya Vijayakumar; Manufactured by Vummidi Bangaru Jewellers

Second Runner-up

Inspired by the Konark Sun Temple, the stylised spherical earrings employ wood, gold, natural white sapphires, and citrine.

Designed by Dipali Ghadigaonkar

Manufactured by KP Sanghvi Jewels Pvt. Ltd.

OBJET TROUVÉ

Winner 

The gold danglers use the manjadi kuru, or lucky seeds (Adenanthera pavonine), capturing the essence of pure innocence and joy from childhood.

Designed by Yamini Devasree; Manufactured by Vummidi Bangaru Jewellers

First Runner-up

Made from pinecone wood, the hair accessory features two pinecones looped with 22-karat gold diamond-studded cords of varying lengths. 

Designed by  Rashmi Kaushik; Manufactured by Kiran Jewels 

Second Runner-up

The earrings are crafted from genuine one-rupee notes, featuring 10-paise old, scalloped coins as posts encased in gold. The folded earrings are adorned with diamonds.

Designed by Vijay Indulkar; Manufactured by Walking Tree Venture Pvt. Ltd.

Nexus Select Trust (NXST) achieves highest ever quarterly tenant sales and occupancy; Declares INR 2 per unit distribution for Q3 FY24 in-line with guidance

MUMBAI, 6 FEBRUARY, 2024 (GSN):  Nexus Select Trust (NSE: NXST / BSE: 543913), India’s first listed Retail REIT, reported strong results today for the third quarter ended December 31, 2023. 

Business Highlight (Q3 FY24)

• Strong operating and financial performance backed by highest ever quarterly tenant sales of INR 33 billion (8% YoY growth) 
• Leased 0.25M sf across 152 deals during Q3 FY24 achieving highest ever retail occupancy of 97.3%, improvement by 110 bps over December 2022
• Achieved NOI of INR 4,185 million (14% YoY growth) and on track to achieve FY24 guidance
• Refinanced debt of INR 9,500 million at 8.1% (compared to pre-refinancing average debt cost of 9.3%) resulting in an annual savings of ~INR 115 million
• Maintained a strong balance sheet with low LTV of 14%, attractive debt cost of 8.2%, AAA / Stable rating and no near-term debt maturity
• Maiden acquisition progressing well and on track to close after obtaining regulatory approvals

Dalip Sehgal, Executive Director and Chief Executive Officer at Nexus Select Trust, said, 

“Continuing the momentum of last two quarters, we are pleased to report another strong performance with highest ever quarterly tenant sales. During the quarter, we leased 0.25 million square feet achieving our highest ever retail occupancy of 97.3%. Our tenant sales grew by 8% YoY ahead of the market growth. Our net operating income grew by 14% YoY and we are on track to achieve our guidance for FY24. On the back of this strong operating and financial performance, we are delighted to announce our second distribution of INR 3,030 million translating to INR 2 per unit reflecting 100% payout for Q3 FY24. The acquisition of three Grade A consumption centres is on track and we expect the deal to close post regulatory approvals. We continue to deliver on our commitment to provide best in class retail infrastructure to over 1,000 domestic and international brands across our portfolio.”

The Board of Directors of Nexus Select Mall Management Private Limited, Manager to the Nexus Select Trust, at its Board Meeting held earlier today, declared a distribution of INR 3,030 million or INR 2 per unit for Q3 FY24. The record date for the Q3 FY24 distribution is February 14, 2024, and the distribution will be paid on or before February 21, 2024.

Investor Materials and Quarterly Investor Call Details

Nexus Select Trust has released a package of information on the quarterly results and performance, that includes (i) condensed consolidated and condensed standalone financial statements for the quarter ended December 31,2023, and (ii) an earnings presentation covering Q3 FY24 results. All these materials are available in the Investors section of their website at www.nexusselecttrust.com.

About Nexus Select Trust

Nexus Select Trust is India’s first publicly listed retail Real Estate Investment Trust (REIT). Our Portfolio comprises 17 best-in-class Grade-A urban consumption centres with a Gross Leasable Area of 9.9 million square feet spread across 14 cities in India, two complementary hotel assets (354 keys) and three office assets with a Gross Leasable Area of 1.3 million square feet. Our consumption centres have a tenant base of 1,000+ domestic and international brands spanning across ~3,000 stores. 

For more information, please visit www.nexusselecttrust.com.

GJEPC To Host Mumbai’s Biggest Art Fest At The Artisan Jewellery Design Awards 2024: 12-13 Feb Ice Factory

NATIONAL, 5^th FEBRUARY, 2024 (GSN): Come and fall in love with Design once again this Valentine’s Day! The Year’s biggest Wearable Artworks & Crafts Design Fest will be celebrated at The Gem & Jewellery Export Promotion Council’s Artisan Design Jewellery Awards 2024 on 12-13 February at the Ice Factory, Ballard Estate in South Mumbai. Among many design themes, ‘Jewellery as Art’ will take centre-stage at the two-day event held on the eve of Valentine’s Day to celebrate people’s love and passion for art, design and jewellery. The Gem & Jewellery Export Promotion Council (GJEPC) is the apex body of trade in India, supported by the Ministry of Commerce & Industry. 

The final judging round for the 7th edition of The Artisan Awards 2024, Powered by GIA, was held on 22nd January, 2024. Of the 20 captivating and well-finished jewellery pieces, the jury picked out 6 winners from the two unconventional themes of The Artisan Awards 2024: ‘Unusual Materials’ and ‘Objet Trouvé.’ This edition of The Artisan Awards received more than 600 entries from around the world including India, Canada, USA, Bahrain, Egypt, Dubai, and Pakistan. The largest-ever congregation of luminaries and aesthetes from the world of Arts, Crafts & Design; curators, art gallery owners and patrons; art school teachers, deans and students; socialites, celebrities, connoisseurs, architects, painters and sculptors; along with jewellery designers (experienced and young) will grace GJEPC’s Artisan Jewellery Awards 2024 gallery showcase at Ice Factory. 

The discussions will revolve around two exciting and unconventional themes ‘Unusual Materials’ and ‘Objet Trouvé’ of the 7th edition of GJEPC’s The Artisan Jewellery Awards 2024. The first theme, ‘Objet Trouvé’ (Found Objects) explores art crafted from visible yet frequently altered objects that are atypical yet serve as art materials due to their non-art function. 

A ‘found object’, whether it's natural, man-made, or even just a fragment, is preserved due to an inherent connection by the artist. It can be treated as a work of art in itself, and as a muse for inspiration. The idea was to design a piece of jewellery that depicts the essence of ‘Objet Trouvé’ by taking an object of your past and reimagining it in a modern form. Examples of 'found objects' could include vintage poker chips, antique coins, collected shells, vintage Venetian glass beads, buttons, and beachcombed shells. The second theme, ‘Unusual Materials’ encouraged designers to create a dialogue between the familiar and the unexpected by combining contrasting materials with at least 50% precious materials. Unusual materials could include cement, titanium, wood, porcelain, bamboo, slate, meteorite, glass, recycled plastic, leather and more. 

Vipul Shah, Chairman, GJEPC, stated, “GJEPC’s vision extends beyond the conventional, aiming to redefine the landscape of jewellery design. Through the Artisan Jewellery Design Awards competition, India seeks to elevate itself and position as the global premier design hub, aligning with the government’s campaign of Design in India. Through this design competition, GJEPC reaffirms its commitment to encourage an environment that will nurture the creative spark within designers.” 

Milan Chokshi, Convener, Promotion & Marketing, GJEPC, adds, “Each year, we strive to introduce a distinctive theme, challenging participants by collaborating with curators to elevate their engagement. Over the past seven years, the Artisan Awards have assumed increasing significance globally, with India recognising them as the most coveted accolade. This prestigious award serves as a driving force, inspiring designers, budding students, and manufacturers to create thematic jewels at the highest echelon. The quality of production within this thematic framework is truly remarkable.” 

The esteemed jury comprised Alice Cicolini, renowned UK jewellery designer; Biren Vaidya, Managing Director, The Rose Group; Payal Singhal, Fashion Designer; Apoorva Deshingkar, GIA India - Senior Director of Education and Market Development; and Toktam Shekarriz, Dubai-based jewellery designer. The technical jury comprised of Devinder Layal (Jewellery Artiste and educationist), Meenal Choksi (Head of Design, Moksh Fine Unseen Jewellery); Sushama Kalzunkar Sawant (PD & Merchandising Head, Dia Gold Creations); Janki Choksi (Founder, Janki Choksi Designs); Gunjan Sapra (COO & Head of Department, Jewellery Designs, International Institute of Gemology, and a GIA Instructor) to honour the best and most talented jewellery designers. 

Alice Cicolini said, “As a jewellery designer, the prospect of an award process like this is truly invigorating. I find great excitement in witnessing competitions that encourage designs using more unconventional materials and explore global trends. The freedom afforded to India's young designers through these themes is commendable and inspiring. Personally, there are a couple of pieces from today that stand out to me as not only intriguing designs but also impeccably crafted. “Having worked in India for nearly two decades, I can attest that it stands as one of the most extraordinary nations for jewellery production, boasting incredible craftsmanship. Witnessing the remarkable work emerging from this country is always a source of excitement. Moreover, it is refreshing to see young jewellery designers break free from traditional constraints, allowing their imaginations to take flight—an approach actively encouraged by institutions like this one. Design, being a commercial art form, requires assurance that there is a market for innovative work.” 

Payal Singhal was fascinated by the exploration of innovative materials and the creation of pieces that could endure for generations. Reflecting on India's design and manufacturing talent, Singhal noted, “The Artisan Awards showcase a remarkable standard. The ability to work with challenging materials and produce versatile, aesthetically pleasing, and finely crafted jewellery is a testament to the high level of expertise present in our country. The innovation displayed at the awards reinforces my belief that India possesses superior capabilities in terms of design, quality, and finishing. 

 “As for elevating jewellery into wearable art, initiatives like The Artisan Awards play a crucial role. By encouraging designers to view jewellery as an artistic expression rather than just ceremonial or status symbols, we encourage a shift towards wearable art. Supporting and motivating young designers and jewellery brands to embrace this perspective will contribute to the evolution of jewellery as a form of artistic expression rather than merely a complement to attire or a symbol of status.” 

About The Gem and Jewellery Export Promotion Council (GJEPC): 

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today around 9,600 members in the sector. With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.Ends

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Union Budget 2023-24 Reaction by Shri Vipul Shah, Chairman, GJEPC

MUMBAI, 2nd FEBRUARY, 2024 (GSN): Gem & Jewellery Export Promotion Council (GJEPC) applauds the pro-reform and export growth-oriented budget by Hon. Finance Minister Smt. Nirmala Sitharaman under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi. We would like to thank Hon’ble Minister of Commerce & Industry Shri Piyush Goyal for his continuous support and guidance to the industry.

In the first Budget of Amritkaal, Hon. Finance Minister has listed 7 priorities as she outlined people-centric agenda of ease of living and doing business to take on global challenges as well as for stimulating exports. 

GJEPC thanks the Government for accepting its recommendation to promote indigenous manufacturing in the emerging Lab-Grown Diamond (LGD) sector by providing Research Grants to IIT for 5 years. GJEPC welcomes the reduction of Customs Duty on LGD seeds to zero from 5%. It will ensure India’s end-to-end world leadership in rough to finished lab-grown diamond and jewellery manufacturing.  In addition to that Govt. has also accepted to have clear segregation Customs (IT HS) codes for Silver and Platinum studded Lab grown jewellery for better differentiation and identification at consumer level.

Another positive pro-growth move is that the conversion of physical gold into digital gold will not attract capital gains tax. 

The increase in the allocation for the Interest Equalization Scheme from Rs. 2,376 crore in 2022-23 to Rs. 2,932 crore in 2023-24, up by 23%, will help in supporting exports particularly by MSMEs and may result in increasing the subvention support as demanded by the exporters in view of rising interest rates.

The Rs 13.7 lakh crore investment for infrastructure by the Government is a big positive step for the country. This will unleash the potential of Indian Economy. 

GJEPC welcomes the move to increase the duty on articles (jewellery) of precious metals such as gold/silver and platinum from 20% to 25% (+Nil AIDC +2 SWS). However we are seeking clarification regarding import duty on findings which are raw material in character for manufacture of jewellery. Union Finance Minister has also rationalised the import duty on silver by proposing to increase the import duty on silver dore, bars and articles to align them with that on gold and platinum.  However that will have a net effect of increase of around 5% duty at import level for silver resulting in increase of price for silver products domestically.

The industry had recommended Reduction in Import Duty on Gold/Silver and platinum which has not been considered in the Budget. Council will continue to pursue the same with the Government for the overall welfare of the industry.

The enhancement of Income Tax limit to Rs. 7 lakh will benefit workers in the gem & jewellery industry. Reduction in surcharge in the highest Income Tax slab will reduce maximum tax rate to 39% (from 42.74%) will benefit jewellers.  

We hope PM Vishwa Karma Kaushal Samman package of assistance for traditional artisans and craftspeople will be extended to the 5,000 year old indigenous gem & jewellery industry.   

We appreciate the emphasis on exports, which are a key growth magnet in growth of the economy. GJEPC welcomes the revamped Credit guarantee scheme for MSMEs and the Government’s assurance of returning 95 per cent of forfeited amount to the enterprises in event of contract failure during covid-19 by MSMEs.  

The Government’s Union Budget for FY24 reflects its long-term vision to spur the country’s march as a leading global economy all the way till India@100.Ends