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) met on Friday to address the sharp rise in US tariffs on Indian jewellery, which now stand at 25%–32%, threatening the export segment. Discussions covered the scale of the impact, the need to explore legal and operational intricacies, and long-term strategies to protect the sector.

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's gold imports fell by 4.23% to USD 12.64 billion from April to July 2024-25, reflecting global economic uncertainties, according to recent government data

Currently, Malabar Gold & Diamonds operates 345 stores across 13 countries, with plans to open new stores in New Zealand, Egypt, Bangladesh, and more locations in Europe

GJEPC, the representative body for India's international gem and jewelry trade, has put forth numerous suggestions to the Government in anticipation of the forthcoming budget

In a recent communication addressed to jewellers and members, the Executive Committee of the Calcutta Gem & Jewellers Welfare Association highlighted the importance of understanding and adhering to the provisions of the Prevention of Money Laundering Act (PMLA).

Incentives include concessions in power cost, interest cost and tax, R&D support to develop indigenous technologies for LGDs, skill development support and others

Export Council Chairman raises key industry issues at the Meeting chaired by the Commerce Minister, Piyush Goyal

SEZs aim to push G&J exports from current USD 7 billion to USD 15 billion in the next three years

Earlier exempted forms of gold jewellery like Kundan, Polki, Jadau proposed to be hallmarked

The main aim of the webinar was to sensitise gem and jewellery exporters about the various MSME scheme benefits, the eligibility criteria, and some other important provisions

The webinar explained various benefits that exporters can claim and also shed light on the eligibility criteria and some important provisions of export schemes

Moreover, exports of diamond jewellery are also expected to get a fillip -- as it is, exports of gems and jewellery have already crossed the pre-COVID levels