An industry delegation comprising  Kirit Bhansali, Chairman, GJEPC;  Adil Kotwal, President, SEEPZ Gem & Jewellery Manufacturers’ Association (SGJMA); and  Sabyasachi Ray, Executive Director, GJEPC, met with  Ajay Bhadoo, Additional Secretary and Director General, Directorate General of Foreign Trade (DGFT), in New Delhi on 5 May.

The meeting focused on discussing various policy and operational challenges faced by exporters in the gem and jewellery sector. The delegation shared industry feedback and proposed constructive solutions to streamline export procedures and enhance ease of doing business.

The recent meeting convened between industry representatives and policymakers was timely, as India’s gem and jewellery sector faces mounting pressures from both global and domestic fronts. The sector has seen an 11.72% decline in exports for FY25, dropping to USD 28.5 billion, driven by reduced demand in key markets like the US and China, new tariffs, and global geopolitical tensions

These macroeconomic headwinds have made the discussion of policy and operational bottlenecks even more urgent.The imposition of a 27% reciprocal tariff by the US has significantly disrupted export flows and pricing structures, especially for diamonds and finished jewellery. Industry leaders stressed the need for swift government intervention and the advancement of a bilateral trade agreement to mitigate these impacts