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.

India and New Zealand signed a Free Trade Agreement on April 27, 2026, in New Delhi, enabling zero-duty access for Indian jewellery exports and phased tariff concessions on select imports.

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.

Following the announcement of the India-EU Free Trade Agreement, GJEPC Chairman Kirit Bhansali outlined its expected impact on exports, employment and market diversification for India’s gem and jewellery sector.

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.

The GJEPC hails the Union Cabinet’s Export Promotion Mission as a transformative step that strengthens MSMEs, boosts global competitiveness, and accelerates India’s journey toward $ 100 billion gem and jewellery exports by 2047.

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.

The Gem & Jewellery Export Promotion Council (GJEPC) has urged people across India to mark Jeweller’s Day on 17th September by taking a Blood Donation Pledge and participating in nationwide blood donation drives organised in partnership with hospitals and blood banks.

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.