A successful buyer-seller meet for studded diamond jewelry was organized by the Gem and Jewelry Export Promotion Council (GJEPC) in Surat, the global hub for the diamond and jewelry industry, on April 13-14, 2026. The preview and inauguration session took place on April 12.

Jay Savaliya, the president of GJEPC Surat, stated that this event was a first-of-its-kind initiative focused specifically on studded diamond jewelry, including both natural and lab-grown segments. The event featured 16 Indian exhibitors and 17 international buyers from Russia, the USA, Brazil, Bulgaria, Colombia, and Poland. A notable feature of the event was the 'Preview Day,' which provided an organized platform for dialogue between buyers and sellers through showcase booths.

Additionally, factory visits were a major highlight, allowing international buyers to closely observe Surat's modern manufacturing capabilities. Over two days, all 16 factories were visited under a well-planned program, giving buyers direct insights into the production process, quality, and technical efficiency. This initiative has strengthened business relationships and further solidified Surat's identity on a global scale, enhancing the city's significance as a diamond and jewelry hub.

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Surat, November 21. Gem and Jewellery Export Promotion Council (GJEPC) Chairman Kirit Bhansali participated in the India-Israel CEO Forum held in Tel Aviv on November 20, 2025, as part of a high-level Indian business delegation led by Union Minister of Commerce and Industry Piyush Goyal. This visit marks the first trip by an Indian Commerce Minister to Israel in several years, signaling a renewed momentum in bilateral cooperation between the two nations.

The India-Israel CEO Forum was inaugurated by Piyush Goyal alongside Israel's Minister of Economy and Industry Nir Barkat, with both leaders characterizing the event as the beginning of a new era of friendship and opportunity. As per agency report, Bhansali met with Minister Barkat during the visit to discuss strengthening collaboration in areas such as responsible diamond sourcing, innovation-based manufacturing, and the digital transformation of supply chains.

Highlighting the significance of the tour, Bhansali noted that the historic visit by the Union Minister has opened new avenues for deeper cooperation in trade, technology, and investment. He observed that Israel's technological leadership and India's unmatched manufacturing scale complement each other perfectly. The GJEPC Chairman expressed confidence that this engagement would foster new investments and solidify India's position as a global hub for diamond, jewelry, and precision manufacturing.

Bilateral gem and jewelry trade between India and Israel has traditionally centered on diamonds, and recent months have shown strong signs of improvement in these trade relations. Data indicates that between April and September 2025, India's imports from Israel rose by more than 60 percent. Furthermore, the export of gold jewelry from India to Israel witnessed a surge of over 200 percent, crossing the USD 25 million mark.

Bhansali also mentioned that the GJEPC looks forward to strong and constructive engagement from Israel, recognized as a pillar of the global diamond industry, in the Kimberley Process. This cooperation is viewed as essential for strengthening the global diamond ecosystem.

Mumbai, 14th October 2025: India’s gem and jewellery exports record a steady recovery in the first half of FY2025–26, witnessing a growth of 3.66% to US$ 14.09 billion between April and September 2025 compared to US$ 13.60 billion in the same period last year. This growth comes despite global headwinds, reflecting the resilience and adaptability of India’s jewellery exporters as festive and wedding season demand gains momentum.

In September 2025 alone, overall exports rose 6.55% to US$ 2.91 billion, signalling improved market sentiment following months of volatility.

Speaking on the Gem & Jewellery Export performance, Kirit Bhansali, Chairman, GJEPC, said, “The first half of this financial year reflects encouraging signs of recovery for the industry. Demand for gem and jewellery products has strengthened across key markets such as the UAE, Hong Kong, and the UK, with exports registering consistent growth. The upcoming festive and wedding season among the Indian diaspora, together with the holiday season demand in global markets, is expected to further sustain this positive momentum in the coming quarter.”

However, the United States — a crucial destination for Indian gem and jewellery exports — continued to face challenges due to tariff-related factors. For the period of April to September 2025, overall exports to the USA declined 40.28% to US$ 2,770.66 million, while exports of cut and polished diamonds fell 53.62% to US$ 1,175.09 million.

Commenting on this, Bhansali noted, “GJEPC remains in close coordination with the Government of India as exporters and manufacturers catering to the US market face significant stress due to the prevailing tariff situation. The Council is actively engaging with the government to advocate for pragmatic, relief-oriented measures to stabilise the sector. Key recommendations include deferment of interest on working capital loans, relief in pre-shipment finance, extension of the Interest Equalisation Scheme, permission for reverse job work in SEZs, allowing sales from SEZs to the Domestic Tariff Area (DTA), and provision of liquidity support packages for affected MSMEs.

He further added, “Safeguarding workers’ welfare is a key priority. We have proposed concessional loans and liquidity support, restructuring of personal loans for affected workers, an education grant of ₹1,000 per girl child, and temporary inclusion under Ayushman Bharat for healthcare cover. These measures aim to ease financial pressures and provide vital social protection until normalcy returns.”

Commenting on the outlook, Bhansali added, “With global retail markets entering their busiest quarter, we expect the next few months to strengthen export performance further. India’s reputation as a reliable sourcing destination, supported by its craftsmanship and scale, continues to drive international demand.”

Gold jewellery exports (plain and studded) grew strong with increase of 21.97% to US$ 5.79 billion in April–September 2025 compared to US$ 4.75 billion in the same period last year.

• Plain Gold Jewellery exports surged 46.74% to US$ 2.80 billion, buoyed by rising gold prices and strong orders from the Middle East market.

• Studded Gold Jewellery exports rose 5.35% to US$ 3.00 billion.

Plain & Studded Gold jewellery exports for the period of April to September 2025 to the UAE surged by 61.37% to US$ 3,192.87 million, compared to US$ 1,978.55 million in the same period last year, reaffirming the UAE’s position as a leading destination for Indian jewellery. Exports to the United Kingdom grew by 17.01% to US$ 155.50 million, driven by steady retail demand and an appreciation for Indian design aesthetics. Meanwhile, exports to Saudi Arabia witnessed a growth of 124.10%, reaching US$ 128.90 million, underscoring the Kingdom’s rising preference for Indian jewellery and strengthening trade relations.

The average gold price rose nearly 36% year-on-year during the period, reflecting both global market dynamics and increased investor confidence in gold as a safe-haven asset.

Exports of Cut and Polished Diamonds, for the period of April 2025 to September 2025, touched US$ 6.25 billion, a decline of 9.57% compared to US$ 6.91 billion in the same period last year. However, September data indicates early signs of recovery, with monthly exports rising 5.91% to US$ 1.37 billion.

For the period of April 2025 to September 2025, Cut and polished diamond exports to USA declined 53% to USD 1175.09 million as compared to same period last year. However, shipments to the UAE witnessed a remarkable increase of 65.23% to US$ 1,299.71 million, reflecting Dubai’s growing role as a global trading hub for diamonds. Exports to Hong Kong also increased by 18.08%, reaching US$ 2,057.02 million, supported by improving demand from jewellery manufacturers and retailers ahead of the festive and holiday season.

The per-carat value of natural diamond stood at US$ 778.29, indicating stable pricing and gradual improvement in market confidence.

For the period of April 2025 to September 2025, exports of Polished Lab-Grown Diamonds declined 7.99% to US$ 586.63 million. The per-carat export value during April–September 2025 stood at US$ 58.66, consistent with global pricing trends amid increased production and inventory corrections.

For the period of April 2025 to September 2025, Silver jewellery exports posted a 17.43% rise to US$ 596.41 million, while Platinum jewellery exports climbed 25.37% to US$ 106.54 million, reflecting growing global consumer interest in diversified precious metals. Exports of Coloured Gemstones rose marginally by 0.75% to US$ 236.66 million.

The industry remains optimistic as the festive and wedding season unfolds, supported by improving consumer sentiment in key markets and upcoming trade engagements that are expected to open new business avenues in the Middle East and beyond.

Mumbai, 09thOctober, 2025: The India-UK CEOs Forum convened in Mumbai on 8-9 October brought together business leaders from both nations to explore the opportunities unlocked by the new India-UK Comprehensive Economic & Trade Agreement (CETA). Among the distinguished participants was Mr. Kirit Bhansali, Chairman, GJEPC, who represented India’s gem and jewellery sector at the high-powered meeting. 

The two-day forum focused on how the CETA signed in May this year will reshape bilateral trade by removing tariffs on 99% of Indian exports to the UK and 90% of UK exports to India. 

Mr. Bhansali spoke about “Leveraging the India–UK CETA to Achieve Growth and Jobs,” alongside prominent Indian business figures including Mr. Uday Kotak,Mr. Karan Rathore, Mr. Dilip Shanghvi, Mr. Naren Goenka, Mr. Anil Agarwal, Mr. Harish Ahuja, Mr. Bhadresh Dodhia, and Mr. Namit Joshi. Each shared insights on how the agreement could boost competitiveness and create employment across key sectors. 

The forum was co-chaired by Mr. Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises, and Mr. Bill Winters, Group Chief Executive, Standard Chartered, with senior government officials in attendance, including Mr. Amardeep Singh Bhatia, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, who addressed participants at the opening session. 

Addressing the CEOs Forum, Mr. Kirit Bhansali highlighted the gem and jewellery sector’s perspective: "The India-UK Free Trade Agreement marks a pivotal moment for the Indian gem and jewellery sector, unlocking immense growth opportunities and reinforcing our global leadership. With exports to the UK set to more than double to USD 2.5 billion within three years, this partnership will not only boost trade but also generate over 140,000 new jobs, directly benefiting artisans, manufacturers, and exporters across all key segments. The FTA strengthens India’s position as a world leader in diamonds, gold, silver, and lab-grown stones, while enabling deeper market access and collaboration with UK retailers. We at GJEPC are committed to leveraging this historic agreement to drive innovation, employment, and sustainable growth for the industry and the millions who depend on it." 

For India’s gems and jewellery sector, Mr. Bhansali’s presence underscored the industry’s growing role in the global economy. With tariff barriers easing and market access expanding, the UK offers significant potential for export growth, design collaboration, and technology-driven value addition. The CETA promises to strengthen this momentum and position India’s gem and jewellery industry for an even more prominent role in shaping the future of India–UK trade relations. 

Surat, May 13 — In a significant move aimed at providing relief to diamond artisans grappling with a prolonged industry slowdown, the Gem and Jewellery Export Promotion Council (GJEPC) has launched a welfare scheme that includes annual health insurance of up to Rs 35,000 and distribution of educational notebooks for workers' children. As per agency report, the scheme will be available only to registered workers who possess an official identity card issued by GJEPC.

For the past two years, India’s diamond hub in Surat has been severely affected by an economic downturn. In the last six months, a sharp decline in the lab-grown and natural diamond sectors has worsened conditions for workers. The situation has become so dire that several artisans reportedly took their own lives, prompting diamond workers' unions to organize protest rallies demanding government intervention.

With lakhs of people directly and indirectly dependent on the diamond industry, reduced working hours and up to 50 percent wage cuts have made it difficult for many families to afford daily necessities and education for their children. In response, the Gujarat state government has acknowledged the severity of the crisis and announced the formation of a special committee to explore economic assistance for the affected workforce.

Under the first phase of its support initiative, GJEPC will extend insurance benefits to registered artisans. Council President Jayanti Savaliya stated that the process of issuing official identity cards is underway and will involve coordination with various industry bodies, including the Diamond Association, Jewellery Association, and the Diamond Workers Union.

The registration process will include collection of Aadhaar numbers and bank account details to ensure seamless delivery of benefits. Only verified and registered artisans will be eligible for the scheme to maintain transparency.

Given the current challenges facing the diamond sector, this initiative could provide much-needed support to the struggling artisan community. However, the success of the program will depend on effective registration and identity verification of beneficiaries.

Mumbai, April 15: India’s total gem and jewellery exports declined by 11.72 percent to USD 28.5 billion (approximately Rs 2.41 lakh crore) during the financial year 2024–25, compared to USD 32.2 billion (Rs 2.67 lakh crore) in the previous year. According to data released by the Gem and Jewellery Export Promotion Council (GJEPC), the drop is largely due to ongoing geopolitical tensions and weak demand from key markets such as the United States and China.

As per an agency report, there was a slight recovery in the month of March, with exports rising by 1.02 percent to USD 2.583 billion (Rs 22,340.89 crore) from USD 2.557 billion (Rs 21,228.71 crore) during the same month last year.

GJEPC Chairman Kirit Bhansali explained that the sustained decline in demand from the US and China, coupled with a 10–15 percent fall in raw diamond prices, had significantly impacted the export value.

Exports of cut and polished diamonds fell by 16.75 percent to USD 13.29 billion (Rs 1.12 lakh crore) from USD 15.97 billion (Rs 1.32 lakh crore) a year earlier. Similarly, exports of polished lab-grown diamonds dropped 9.64 percent to USD 1.267 billion (Rs 10,716.13 crore) compared to USD 1.402 billion (Rs 11,612.36 crore).

Gold jewellery exports remained nearly flat, falling marginally by 0.11 percent to USD 11.215 billion (Rs 94,937.78 crore) in FY 2024–25 from USD 11.227 billion (Rs 93,066.82 crore) in the previous year.

Silver jewellery exports saw a steep decline of 40.58 percent, falling to USD 961.8 million (Rs 8,115.32 crore) from USD 1.618 billion (Rs 13,424.4 crore). In contrast, platinum jewellery exports rose by 11.79 percent to USD 182.7 million (Rs 1,547.3 crore) from USD 163.5 million (Rs 1,354.41 crore).

The export of colored gemstones also dropped by 8.01 percent, standing at USD 440.38 million (Rs 3,729.93 crore) in FY 2024–25 compared to USD 478.7 million (Rs 3,961.98 crore) the previous year.

The figures highlight the challenges faced by India’s gem and jewellery sector amid global uncertainties and changing market dynamics.

Mumbai, April 3 – The Gem and Jewellery Export Promotion Council (GJEPC), the apex body of India's gem and jewellery sector, stated on Thursday that the recently announced retaliatory tariffs by the United States will have a significant negative impact on India's exports to the American market. The council has urged the Indian government to take prompt and strategic measures to safeguard the long-term interests of this vital export sector.

As per agency report, the US administration under President Donald Trump has imposed a 27 percent tariff on Indian goods, citing high import duties levied by India on American products. The measure, according to US officials, is aimed at reducing the trade deficit and boosting domestic manufacturing.

GJEPC highlighted that this steep tariff will place a heavy burden on both Indian exporters and American consumers. In the short term, the council anticipates challenges in maintaining the current level of exports to the US, which stands at around USD 10 billion annually. Over the long term, it expects significant realignments in global supply chains as a result of these protectionist policies.

The council emphasized the urgency of progressing with the proposed bilateral trade agreement between India and the US, asserting that such a framework would be crucial in resolving tariff disputes and securing the sector’s strategic interests.

Currently, the United States imports gem and jewellery products worth approximately USD 11.58 billion from India, while exporting about USD 5.31 billion to India, bringing the total bilateral trade in this sector to USD 16.89 billion. The trade includes natural and lab-grown polished diamonds, gold and platinum jewellery, silver ornaments, imitation jewellery, rough diamonds, rough lab-grown diamonds, colored gemstones, and various precious metal bars.

The GJEPC's concerns reflect the broader anxiety across Indian export sectors as they brace for the impact of the newly imposed US tariffs.

The Indian diamond industry is beginning to see a glimmer of hope as signs of recovery emerge in China’s diamond market, potentially paving the way for a positive shift in the global diamond manufacturing landscape, as per agency report. A senior official from the Gem and Jewellery Export Promotion Council (GJEPC) shared that the improving sentiment in China could benefit India's significant diamond processing sector.

China's diamond market, estimated to be worth around USD 9 billion, has faced sluggishness in recent years due to the country’s economic slowdown and a declining marriage rate. In 2024, the Chinese diamond sector generated approximately USD 5.7 billion in revenue. Market analysts predict a gradual rise, expecting the market to grow to around USD 7.2 billion by 2030.

Over the past two years, demand for diamonds in China has dropped by up to 50 percent, while wholesale diamond prices have fallen nearly 40 percent. These developments have had a direct impact on India, which accounts for roughly one-third of the global trade in cut and polished diamonds.

According to GJEPC data released last week, India’s gem and jewellery exports fell by 23.49 percent year-on-year in February 2025, amounting to USD 2.42 billion. The drop is attributed to weakening demand in both the US and Chinese markets.

Kirit Bhansali, Chairman of GJEPC, stated that stable diamond prices combined with signs of recovery in Chinese demand are encouraging indicators for the global industry. He added that India’s strong manufacturing base is well positioned to take advantage of this opportunity.

GJEPC Vice Chairman Shaunak Parekh noted that after a prolonged downturn, sales are beginning to stabilize, and this renewed demand could potentially reshape India’s diamond manufacturing sector in the coming months.

Mumbai, February 2 – India’s gem and jewelry industry has welcomed the Union Budget 2025-26, particularly the reduction in basic customs duty on platinum findings and the cut in jewelry duty, which are expected to boost the sector’s growth.

Key Budget Provisions for the Jewelry Sector

Finance Minister Nirmala Sitharaman announced significant tax adjustments and policy changes in the gems and jewelry sector as part of the Union Budget 2025-26. These include:

• Customs duty reduction on platinum findings (used in jewelry making).
• Duty on jewelry cut from 25% to 20%.
• New tariff categories under Chapter 71, defining purity levels for gold, silver, and platinum.

Industry Reactions

GJEPC Applauds Tariff Reform

The Gem and Jewellery Export Promotion Council (GJEPC) has lauded the creation of new tariff categories under Chapter 71. GJEPC Chairman Vipul Shah stated:

“We welcome the proposal to introduce new tariff items for metals under headings 7106 (silver), 7108 (gold), and 7110 (platinum). This will help properly classify alloys containing platinum and gold, addressing past inconsistencies under the India-UAE CEPA (Comprehensive Economic Partnership Agreement).”

Gold Sector to Benefit from Increased Disposable Income

Sachin Jain, Regional CEO of the World Gold Council (India), emphasized that the budget’s focus on consumption-led growth will positively impact the gold and jewelry market.

“With higher tax exemption limits, disposable income will increase, leading to greater consumer demand for gold and jewelry,” Jain noted.

Jewelry Industry Hails Duty Reduction

The cut in jewelry duty from 25% to 20% was also welcomed by the industry. Colin Shah, Managing Director of Kama Jewelry, said:

“The reduction in jewelry duty is a much-needed move that will enhance India’s competitiveness in the global market.”

Boost for India's Jewelry Market

India, being one of the largest consumers and exporters of gold and platinum jewelry, is expected to benefit significantly from these policy changes. Lower duties will make Indian jewelry more competitive in global markets, while higher domestic consumption could further fuel growth in the industry.

With these industry-friendly measures, experts anticipate a stronger performance for the Indian gem and jewelry sector in the coming financial year.

Surat : The Gem & Jewellery Export Council Regional Office Surat (GJEPC RoS) organized a webinar on physical shipment of small e-commerce parcels through FedEx on November 24, 2023, to address the challenges faced by jewelry exporters in Gujarat.

The webinar, attended by over 200 participants, brought together leading exporters and FedEx representatives to discuss the streamline the export process for small parcels. During the webinar, GJEPC RoS secured a commitment from FedEx to make GJEPC membership compulsory for FedEx registration. This move is expected to streamline the export process for jewelry exporters in Gujarat.

Key Highlights of the Webinar

• FedEx to initiate a pilot project in Gujarat for shipping small e-commerce parcels.
• GJEPC membership will be mandatory for exporters to register with FedEx.
• FedEx will initially handle parcels valued at USD 800 and below.

FedEx Services for Jewelry Exporters

FedEx representatives presented their services and operations, including door-to-door delivery, international clearance stations, and document requirements. They also addressed queries from attendees regarding export procedures, minimum export amounts, and the types of commodities that can be exported.

GJEPC's Commitment to Supporting Exporters

Mr. Vijay Mangukiya, Regional Chairman of GJEPC, emphasized the council's dedication to assisting exporters in achieving their export targets and exploring new export opportunities. He assured attendees that GJEPC will continue to provide comprehensive support to the jewelry export industry in Gujarat.

The webinar concluded with a vote of thanks from Mr. Mangukiya, reiterating GJEPC's commitment to facilitating smooth export processes and empowering jewelry exporters in Gujarat.

Surat, India - In a commendable display of resilience and collaborative efforts, the recent delay in releasing more than 350 parcels of rough diamonds at the Surat Hira Bourse has been successfully resolved. The primary reason for the delay was a system error in the ICEGATE website, which affected the processing of GST applications, consequently hindering customs clearance.

The situation began on October 16, 2023, when these valuable diamond parcels were placed on hold. The diamond trading community, demonstrating immense patience, initially awaited the system's update for a period of 4-5 days. Simultaneously, they sought to expedite the process by requesting customs authorities to manually process the bill of entry to release the parcels.

In response to this challenging situation, a group of trade members reached out to the Gem and Jewelry Export Promotion Council (GJEPC) for intervention. The GJEPC swiftly engaged with EP Systems in Delhi to rectify the error. Additionally, the GJEPC regional Chairman, in a proactive move, held discussions with the Assistant Commissioner and Additional Commissioner of customs in Surat. Their appeal was for the manual release of the parcels, given the urgency of the matter.

The collective efforts bore fruit when the system was restored to full functionality late on Saturday night, with the EP Systems team successfully eliminating the error. Recognizing the impending Diwali season and understanding the importance of these parcels to the trade, the Surat Hira Bourse authority decided to operate on Sunday, ensuring the swift clearance of all pending parcels.

The Surat trading community acknowledges and appreciates the invaluable support provided by the customs department in Surat during this challenging period. Their commitment to resolving the issue and their responsiveness in facilitating the release of these parcels played a pivotal role in safeguarding the interests of the diamond trade.

This incident serves as a testament to the spirit of cooperation and dedication within Surat's diamond trading community, the GJEPC, and the customs authorities. Together, they overcame a significant challenge, ensuring the uninterrupted flow of trade, and setting an example of resilience and collaboration within the industry.

Dubai, October 10, 2023: The Gem & Jewellery Export Promotion Council (GJEPC) of India hosted the third edition of its International Gem & Jewellery Show (IGJS) in Dubai from October 10-12, 2023. The event attracted a record-breaking 500+ international buyers from 32 countries, reflecting the growing demand for Indian jewellery in the global market.

IGJS Dubai featured 45 exhibitors showcasing a wide range of products, including diamond and gemstone studded jewellery, gold jewellery, and other jewellery creations. The curated exhibition was exclusively dedicated to offering top-quality Indian jewellery to international buyers.

At the inauguration ceremony, Mr. Tawhid Abdullah, Chairman of Dubai Gold and Jewellery Group, said, "We are happy to host GJEPC's International Gem & Jewellery Show as it is a good way to promote Dubai as a destination and well as help the international trade to congregate at this beautiful venue."

Mr. Vipul Shah, Chairman of GJEPC, added, "Middle East has been a significant market for the Indian gem and jewellery industry. Also, Dubai being a distribution center, serves as a hub for jewellery trade across GCC, CIS, Far East, and some parts of Europe, which adds to its strategic importance and influence in the global jewellery ecosystem."

Over 500 buyers from 32 different countries attended the event, including Algeria, Azerbaijan, Bahrain, Bangladesh, Belarus, Belgium, Bolivia, Brazil, Canada, Dominican Republic, Egypt, France, Iran, Jordan, Kazakhstan, Kuwait, Lebanon, Malaysia, Oman, Palestine, Qatar, Russian Federation, Saudi Arabia, South Arabia, South Africa, Spain, Sri Lanka, UAE, UK, Uruguay, USA, and Uzbekistan.

The buyers' profile was equally diverse, with wholesalers, retailers, importers, and exporters representing all sectors of the jewellery industry worldwide. This dynamic mix of attendees ensured that IGJS Dubai was the perfect platform for networking, discovering new trends, and conducting business in the global jewellery marketplace.

As part of the council's commitment to strengthening trade relations with the UAE, GJEPC established the India Jewellery Exposition (IJEX) center in Dubai. IJEX serves as a dedicated B2B platform, providing GJEPC members with the opportunity to exhibit their products and secure orders in the UAE market throughout the year. It is estimated that IJEX has facilitated trade worth $3.3 million so far.

The third edition of IGJS Dubai was a resounding success, showcasing the best of Indian jewellery to the world. The event attracted a record-breaking number of international buyers, reflecting the growing demand for Indian jewellery in the global market.