Billionaire Gautam Adani, during his address at the 51st Gem & Jewellery Awards, called India "jewel in global crown of the cut-and-polished diamond market", noting it had 26.5% of global market share in the industry. "But the recent 14% decline in exports is a wake-up call," Adani said. "It signals a turning point where we reimagine our approach," he added.