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.

The government plans to make silver jewellery hallmarking mandatory from October 2026, expanding BIS oversight as silver consumption, prices and jewellery trade volumes rise.

India’s gem and jewellery exports rose 2.44% to $9.17 billion during April-July 2026, supported by studded gold, silver and platinum jewellery despite weaker diamond shipments.

India’s jewellery exports increased 2.44% despite a decline in diamond shipments, reflecting differing trends across jewellery categories and continued pressure on the country’s diamond trade.

Thailand’s gem and jewellery sector, including gold, generated $26.6 billion in exports in 2025, strengthening the country’s position as an international jewellery manufacturing and trading centre.

IIJS Bharat Premiere 2026 brought India’s jewellery trade together in Mumbai from August 5 to 10, with sourcing, exports, technology and changing consumer demand shaping business discussions.

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.

The Gem & Jewellery Council has cautioned that the US' 10% tariff on Indian imports could weaken export competitiveness, squeeze margins and impact jobs, urging government intervention through trade negotiations.

India’s gem and jewellery exports increased 26.51% year-on-year to $2.21 billion in June 2026, driven by stronger global demand, lower gold prices and growth across key product categories.

GJEPC hosted a networking meet in Tashkent on July 14, bringing Indian gem and jewellery exporters together with Uzbek trade stakeholders to explore partnerships and strengthen bilateral business opportunities.

Mumbai flagged off its first jewellery export consignment to the UK on July 15 under the India–UK CETA, marking nationwide shipments expected to benefit exporters through zero-duty market access.

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.

The Gem & Jewellery Export Promotion Council joined the Union Commerce Minister's trade mission to the UK and Greece to strengthen market access, promote exports and deepen trade partnerships across Europe.

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.