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.

India concluded the Kimberley Process Intersessional 2026 in Mumbai after four days of discussions on compliance, transparency and governance reforms aimed at strengthening confidence in the natural diamond trade.

India commenced the Kimberley Process Intersessional Meeting 2026 in Mumbai on May 11, bringing global participants together to discuss compliance, monitoring and consumer confidence in responsibly sourced natural diamonds.

The Forum on KP Dialogue 2026, held at the Jio World Convention Centre, Mumbai, under India’s Kimberley Process Chairmanship 2026, discussed issues such as credibility, consumer confidence, compliance, and the evolving future of responsible natural diamonds, reports Khursheed Mistry.

The KP Dialogue Forum will be held in Mumbai on May 10, 2026, bringing together global diamond industry stakeholders to discuss credibility, consumer confidence and compliance across the supply chain.

Indian Institute of Gems & Jewellery Lab has introduced origin determination reports for Paraiba tourmalines, expanding its coloured gemstone certification services amid growing demand for provenance verification and standardized gemstone nomenclature.

IAGES expanded its #PehlaCheckIAGES campaign across India during Akshaya Tritiya 2026, encouraging consumers to verify jewellers before purchase while positioning accreditation and transparency as differentiators for jewellery businesses.

Malabar Gold & Diamonds has introduced its Aanika natural diamond collection, endorsed by Kareena Kapoor Khan, targeting festive demand with heritage-inspired designs and a renewed focus on emotional storytelling and cultural symbolism.

Kalyan Jewellers launched a Poila Boishakh digital campaign in Kolkata on April 14, 2025, featuring Ritabhari Chakraborty to highlight Bengali cultural heritage, craftsmanship and jewellery’s generational significance.

Divine Solitaires introduced a diamond coin collection on April 13, 2026, in Mumbai for Akshaya Tritiya, offering three variants to position diamonds as long-term value purchases.

The Government of India has expanded mandatory gold hallmarking to seven additional districts under the sixth phase of implementation, increasing nationwide coverage to 380 districts effective March 2, 2026.

On March 2, 2026, in Mumbai, IAGES announced crossing 50 accredited members, expanding to 300+ stores to strengthen transparency, standardization and consumer confidence across India’s gold value chain.

Namibia signed the Luanda Accord in Cape Town on February 9, 2026, while GJEPC and DMCC agreed pathways toward Natural Diamond Council membership to support global natural diamond marketing efforts.

Union Budget 2026-27 makes a strong push for MSMEs, with a Rs 10,000-crore SME Growth Fund; besides, it enables faster payments via mandatory TReDS for CPSE purchases. Overall, the Budget emphasizes fiscal prudence, infrastructure creation, and ease of doing business. For a sector navigating global uncertainty, shifting consumer preferences, and rising compliance standards, it is stability that the enabler.