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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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GJC Delegation Meets RBI Deputy Governor, Makes GMS Presentation

The Proposal Was Acknowledged As An Innovative Initiative With The Potential To Become A Game Changer For The Industry and The Nation.

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A GJC delegation comprising Vice Chairman Avinash Gupta, Legal Consultant CA Bhavin Mehta, and National Secretary Mitesh Dhorda met with Shirish Chandra Murmu, Deputy Governor of the Reserve Bank of India,  along with his senior team.

During the meeting, the delegation made a detailed presentation on the proposed Gold Monetization Scheme (GMS). The RBI team appreciated the concept of the scheme. The proposal was acknowledged as an innovative initiative with the potential to become a game changer for the industry and the nation.

GJC remains committed to working closely with all stakeholders —including the government, banks, jewellers, gold depositors, and temple trusts—in the larger national interest and for the sustainable growth of the GJ industry.

The Gold Monetization Scheme (GMS) in India was launched with the primary objective of reducing gold imports by mobilizing the vast amount of idle gold held by households, institutions, and temple trusts, thereby decreasing the country’s heavy reliance on gold imports. By encouraging depositors to bring their unused gold into the formal banking system, the scheme puts this dormant gold into productive economic purposes, such as meeting the needs of jewellers and industries without requiring fresh imports.

Additionally, the scheme allows depositors to earn interest on their gold deposits instead of keeping gold idle at home, transforming a non-yielding asset into an income-generating investment while simultaneously strengthening India’s gold supply chain and reducing the trade deficit.

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