As India raises gold import duty from 6% to 15% amid economic pressure and a weakening rupee, the jewellery industry is preparing for higher prices, evolving demand, and possible market disruption, discovers Khursheed Mistry.

PNG Jewellers on May 13 launched Swarna Swaraj from Pune to promote domestic gold recirculation, lower-karat jewellery adoption and responsible consumption following Prime Minister Narendra Modi’s appeal on gold imports.

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.

Piyush Goyal launched Malabar Gold & Diamonds’ Rs 200 crore CSR plan in New Delhi on March 25, 2026, covering education, healthcare, hunger relief, housing and environmental programmes across India.

The GJEPC has welcomed the India-U.S, trade agreement announcement, saying the move could ease tariff pressures and provide much-needed relief to India's gem and jewellery exporters/

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.

GJEPC Chairman Kirit Bhansali, addressing Prime Minister Modi’s select industry meet, outlined a roadmap to make India the global hub for gems and jewellery with $100 billion exports by 2047.

Commenting on India’s 7.8% GDP growth in the first quarter of FY 2026, Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), said the strong performance reflects the resilience of the economy and the policy direction under the leadership of Prime Minister Narendra Modi.

In a proud moment for the British Asian jewellery community, PureJewels was among the select names invited to showcase handcrafted jewellery at the official celebration of the UK–India Free Trade Agreement (FTA), hosted at Chequers, the official country residence of the UK Prime Minister.

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

India is set to bolster its gem and jewellery industry with the launch of the first-ever India Jewellery Park in Mumbai, a landmark project announced by Mr. Vipul Shah, Chairman of GJEPC

Prime Minister Narendra Modi recently inaugurated the Bharatmata Sarovar in Dudhala, Gujarat, a transformative water conservation initiative led by Padma Shri awardee Savji Dholakia and the Dholakia Foundation

Union Minister Piyush Goyal recently celebrated the inauguration of the Bharat Ratnam – Mega Common Facility Center (CFC) at SEEPZ, emphasizing its pivotal role in India's gem and jewellery industry