With new trade agreements opening markets, and shifting global sourcing strategies creating fresh opportunities, India’s gem and jewellery industry is entering an important phase. GJEPC Chairman Kirit Bhansali discusses India’s growing global role, emerging export opportunities, and the road ahead, with Suneeta Kaul.

With the U.S. Section 301 tariff regime taking effect on July 24, 2026, GJEPC says Indian gem and jewellery exports continue to face a 10% additional tariff despite policy compliance.

Ahead of the India-UK CETA taking effect on July 15, 2026, GJEPC hosted a London Buyer-Seller Meet to connect Indian exporters with UK buyers and expand bilateral gem and jewellery trade.

India’s gem and jewellery exports totalled $4.27 billion in April-May 2026, while GJEPC urged the government to address gold supply constraints and regulatory issues affecting export manufacturing.

As India raises gold import duty to 15%, leading jewellery players and trade bodies support gold conservation measures while warning of liquidity pressure, export challenges and rising risks to MSMEs.

The EU-India FTA offers a significant boost to India’s gems and jewellery industry through reduced tariffs, easier market access, and improved competitiveness in Europe. The pact is expected to accelerate exports, attract investment, strengthen manufacturing, and reinforce India’s position as a trusted global sourcing hub for premium jewellery, says Suneeta Kaul.

GJEPC has responded to the India–EU Free Trade Agreement, stating that zero-duty access for jewellery will support exports, improve competitiveness and help double bilateral gem and jewellery trade within three years.

Ahead of the 27 January 2026 India-EU Summit in New Delhi, GJEPC has urged the Government of India to secure duty-free EU access for jewellery to expand exports and double bilateral trade.

India–Oman CEPA abolishes duty on Indian gems and jewellery in Oman from December 2026, with GJEPC projecting exports rising from $ 35 million to $ 150 million within three years.

Signed on 24 July 2025, the India–UK Free Trade Agreement (CETA) grants Indian jewellery duty-free entry into the UK — opening the door to a surge in exports and bilateral economic growth.

The recently signed India-UK Free Trade Agreement (FTA) is set to significantly reshape the landscape for Indian gem and jewellery exports, granting zero-duty access to the UK market for the first time. The agreement removes existing tariffs of up to 4% on jewellery exports, delivering an immediate competitive edge for Indian exporters and reducing cost pressures across the supply chain

Industry leaders have praised the Union Budget for boosting consumer demand through tax reforms, increasing disposable income, and supporting economic growth

The Government of India has announced the reintroduction of the Diamond Imprest Authorisation (DIA) Scheme, aiming to boost India’s competitiveness in the global diamond trade and support the domestic industry

The Indian government has announced revised wastage norms for the export of gold, silver, and platinum jewellery, set to take effect on January 1, 2025