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GJEPC Champions India-Saudi Gem & Jewellery Trade Collaboration through SAJEX 2025

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The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of India’s gem and jewellery industry, is set to host the first-ever Saudi Arabia Jewellery Exposition (SAJEX 2025) from 11th to 13th September 2025 at the Jeddah Superdome.

This landmark event is supported by the Ministry of Commerce & Industry, Government of India, the Consulate General of India in Jeddah and the Embassy of India in Riyadh. SAJEX 2025 is Powered by IGI and supported by Saudi Invest, Jeddah Chamber, Makkah Chamber, The Jeddah Jewellery Association, Dubai Jewellery Group, and Gold Centre, with Arabian Horizon as the official destination management company.

Positioned as The World Gem & Jewellery Fair, the exposition will bring together 200+ exhibitors across 250 booths from India, Saudi Arabia, UAE, Hong Kong, and Lebanon, and is expected to welcome more than 2,000 trade buyers. Exhibits will cover the entire jewellery spectrum including diamond and coloured gemstones, gold jewellery (18kt, 21kt, 22kt), platinum jewellery, lab-grown diamonds, prêt and bridal collections, gifting jewellery, and jewellery technology. Alongside the exhibition, curated knowledge sessions, networking forums, and design showcases will further drive industry growth and collaboration.

A major highlight will be the World Jewellery Investment Forum, jointly hosted by GJEPC and the Ministry of Investment of Saudi Arabia (MISA) on 11th September. The forum will bring together government leaders, global brands, investors, and industry experts to explore investment and growth opportunities across the jewellery value chain, reflecting Saudi Arabia’s rapidly evolving market and its growing importance as a hub for trade and investment in the region.

Fahad Ahmed Khan Suri, Consul General of India in Jeddah, said, “SAJEX 2025 goes beyond being an exhibition — it reflects the strengthening ties between India and Saudi Arabia. Combining India’s rich tradition of jewellery craftsmanship with Saudi Arabia’s expanding role in the global luxury market, this event creates a unique platform for industry players to connect, collaborate, and grow together. The Consulate takes great pride in supporting this initiative, which highlights the growing economic partnership and shared vision for innovation and opportunity in the jewellery sector.”

Kirit Bhansali, Chairman, GJEPC, said, “The jewellery market in Saudi Arabia is expanding at a remarkable pace, with estimates suggesting it will reach USD 8.34 billion by 2030. As the Gulf’s largest economy, with a GDP of USD 1.1 trillion, Saudi Arabia is fast emerging as a key player in the global luxury and retail landscape. SAJEX represents a significant step towards deepening India-Saudi collaboration, creating new opportunities for trade, innovation, and industry leadership, while strengthening ties and unlocking the full potential of the jewellery sector in the region and beyond.”

Kirit bhansali

Saudi Arabia, the Gulf’s largest economy with a GDP of USD 1.1 trillion, is witnessing rapid growth in jewellery demand, projected to nearly double from USD 4.56 billion in 2024 to USD 8.34 billion by 2030. Rising appetite for 18K and 21K plain gold jewellery, diamond-studded pieces, and premium design-led products makes the Kingdom an important destination for Indian exporters.

With exports of USD 28.7 billion in FY 2024–25, India remains the world’s leading supplier of gems and jewellery. Through SAJEX, GJEPC aims to establish a dedicated B2B platform in Saudi Arabia, strengthening bilateral trade, fostering cultural exchange, and positioning Indian craftsmanship at the heart of the Kingdom’s evolving luxury market.

The strong response to SAJEX was already evident during its curtain-raiser events in Jeddah and Riyadh in July 2025, which brought together over 280 Saudi stakeholders, including leading retailers and wholesalers. Building on this momentum, SAJEX 2025 seeks to further align with the Kingdom’s Vision 2030, reinforcing India–Saudi trade collaboration and expanding India’s global jewellery footprint.

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Kalyan Jewellers to expand in non-South markets via franchise model

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Kalyan Jewellers said it will accelerate the rollout of franchise-owned company-operated (FOCO) showrooms to drive expansion in India and overseas. Nearly half its revenue now comes from franchised stores, and most new openings in FY26 will follow the capital-light FOCO model as the company focuses on improving returns and reducing debt.

Thrissur-based jewellery retailer Kalyan Jewellers plans to sharpen its focus on franchise-owned company-operated (FOCO) showrooms as it scales both in India and overseas, according to its Q2FY26 earnings investor presentation. The jeweller said future incremental expansion will be driven largely through capital-light franchise formats, aimed at improving returns and reducing balance sheet leverage.


The company, which has 174 FOCO showrooms in India as of September 30, 2025, has signed letter of intents (LOIs) for 89 new FOCO outlets to be opened in FY26. Its digital-first brand Candere will also expand primarily through the FOCO route, with 54 such showrooms already in place. Internationally, Kalyan said calibrated expansion in the Middle East and entry into the US market will similarly rely on franchise-led stores.

The shift is part of a broader strategy towards capital-efficient growth. The company aims to use 40-50% of profits to repay debt and invest in shareholder returns. Since April 2023, Kalyan has repaid Rs 6,461 crore in working capital loans in India and declared a dividend payout of over 20% for FY25.

The jeweller reported about 31% revenue growth in Q2FY26, supported by 16% same-store sales growth and continued strong new customer additions, which accounted for over 38% of sales. Nearly 49% of quarterly revenue came from franchised showrooms. Margin gains were driven by improved procurement efficiencies and operating leverage.

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