loader image
Connect with us

National News

GJEPC Leaders Urge Government Action Amidst 50% US Tariff Blow to Gem & Jewellery Exports

Published

on

1,716 Views

In a recent panel discussion on CNBC-TV18’s Commodity Champion, key voices from India’s gem and jewellery sector raised urgent concerns about the impact of the newly imposed 50% tariff on exports to the United States — the country’s largest export destination for the industry.

The panel featured Kirit Bhansali, Chairman of GJEPC; Devansh Shah, Partner at Venus Jewel; Praveenshankar Pandya, Director of Shankar Group of Companies; Akshay Shah, Director at Dharmanandan Diamonds Pvt. Ltd.; and Sabyasachi Ray, Executive Director of GJEPC. Together, they presented a sobering picture of the challenges ahead.

Between April and July 2025, exports to the U.S. had already dropped 32% year-on-year to USD 2.12 billion. With the new 50% tariff taking effect from August 27, the sector now faces further contraction — affecting key categories including polished diamonds, fine jewellery, and coloured gemstones.

GJEPC strongly urged the Indian Government to intervene with immediate relief measures. These include:

  • Targeted Duty Drawback or reimbursement schemes
  • Working capital relief for exporters
  • Permission for reverse job work and limited DTA (Domestic Tariff Area) sales in SEZs

Such support, leaders say, is critical to protect livelihoods, sustain global competitiveness, and prevent a long-term erosion of India’s market share in the global gem and jewellery industry.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

National News

DGSL launches India’s first structured insurance appraisal service for GJ sector

Published

on

1,890 Views

DGSL, one of India’s leading gems and jewellery testing and certification authorities, has announced the launch of specialized Insurance Appraisal Services for gems and jewellery, introducing what it describes as the country’s first structured, standards-driven appraisal service dedicated to insurance documentation.

The initiative seeks to address a long-standing gap in the Indian market, where jewellery insurance documentation has often lacked standardized gemological evaluation and globally aligned valuation methodologies / practices.

With the rising value of fine jewellery collections, heirloom pieces, and investment-grade gemstones, the demand for precise and internationally compliant insurance appraisals has grown significantly. DGSL’s appraisal reports include detailed gemstone identification, grading analysis, market-aligned valuation methodology, high-resolution imaging, and clearly defined value conclusions prepared specifically for insurance coverage purposes.

The reports aim to provide clarity and reliability for clients, insurers, and financial institutions by ensuring accurate replacement value assessments and minimizing ambiguity during insurance claims.

In a parallel development,  Atul Jain, Director at DGSL, has been granted membership in the National Association of Jewelry Appraisers (NAJA), one of the world’s most respected professional organizations dedicated to jewellery appraisal standards, ethics, and professional education.

Jain, a Graduate Gemologist with more than four decades of experience in the jewellery trade, has played a significant role in gemological education, diamond grading, and jewellery authentication in India. His professional expertise spans natural diamonds, coloured gemstones, antique jewellery evaluation, and market advisory.

Atul. Jain said, “The introduction of structured insurance appraisal services marks an important evolution for the Indian jewellery industry. Jewellery today represents not only adornment but also heritage, investment, and emotional legacy. It deserves documentation that meets global standards of accuracy, transparency, and credibility.”

DGSL’s Insurance Appraisal Services will cater to private collectors, high-net-worth individuals, jewellery retailers, estate planners, financial institutions, and insurance providers. Each appraisal follows internationally accepted valuation principles while being adapted to the dynamics of both the Indian and global jewellery markets.

With over two decades of excellence in testing and certification, DGSL has built a reputation grounded in scientific accuracy, ethical practices, and client trust. The addition of Insurance Appraisal Services further strengthens DGSL’s position as a comprehensive authority in gemological certification and valuation.

This initiative sets a new benchmark for professionalism within India’s gems and jewellery sector, ensuring that valuable jewellery assets are not only authenticated but also properly valued and protected.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x