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GJEPC to discuss silver shortage impacting India’s jewellery exports

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Silver prices in India have surged to an unprecedented Rs.1,85,000 per kg & surpassing with every minute or hour or day, (inclusive of taxes), up Rs.6,000 + in a single day and a staggering 106% so far this year, creating a severe shortage that threatens the country’s silver jewellery exports.

The Gem & Jewellery Export Promotion Council (GJEPC) is convening with exporters and retailers to assess the situation and explore solutions before escalating the matter to the government.

Kirit bhansali

“There is a tremendous shortage of supply, which will impact our exports of silver jewellery. We are engaging stakeholders and will call a meeting shortly,” said GJEPC Chairman Kirit Bhansali.

India’s silver jewellery exports had grown 17.43% year-on-year to $596.41 million in the first half of this fiscal year. However, rising industrial demand for silver in electronics, solar panels, batteries, and its recent classification as an essential mineral by the US has tightened global supplies, diverting shipments and pushing prices higher.

Exporters report that the shortage is driving premiums unnecessarily high, directly affecting their competitiveness. Compounding the issue, the government recently restricted imports of silver and unstudded jewellery from certain ASEAN countries, including Thailand, until March 31, 2026, in an effort to manage the domestic market.

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National News

Festive Dressing, But Make It QWEEN: 10 Jewellery Pieces To Add To Your Festive Wardrobe

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Festive dressing does not always have to mean going traditionally. QWEEN brings a more contemporary take to fine jewelry, combining natural diamonds and gemstones with unexpected designs, playful names and modern silhouettes. 

From statement rings and layered necklaces to easy-to-style earrings and bracelets, the brand makes jewelry feel personal, expressive and easy to work into your festive wardrobe, whether you are dressing up for a celebration, gifting someone special or simply adding a little sparkle to your own look.

1. Moonlit Mischief Ring

A little drama for your festive look, the Moonlit Mischief Ring features a central opal surrounded by diamonds and pink sapphires in rose gold. The opal is designed to shift while the surrounding stones remain fixed, making this a beautiful statement piece for evening celebrations and festive dressing.

2. Girls Night Stackable Rings

Why wear one when you can stack three? The Girls Night Stackable Rings bring together blue sapphires, diamonds and pink sapphires across individual bands in white and yellow gold. Wear them together for a statement moment or split them across fingers to create your own festive combination.

3. Crisscross Ombre Ring

For those who like their jewellery to make an entrance, the Crisscross Ombre Ring combines three sculptural bands with baguette-cut stones and a gradient of pink tones. Its dimensional design makes it an easy pick for festive evenings when your jewellery needs to do some of the talking.

4. Signature Stack Necklace

A modern take on the classic signet, this necklace is crafted in a seamless tricolour band of rose, white and yellow 18K gold. With no stones competing for attention, the beauty lies in the interplay of the three gold tones, making it a refined choice for both festive and after-hours dressing.

5. Understated Icon Necklace

Minimal, polished and incredibly versatile, the Understated Icon Necklace is made for those who prefer their festive jewellery to be subtle but still noticeable. Its clean silhouette makes it easy to pair with a silk saree, a sharp festive co-ord or even a classic evening dress.

6. Teleport Me Pendant

A pop of colour can instantly change a festive look, and the Teleport Me Pendant does exactly that. An amethyst baguette takes centre stage, surrounded by 62 diamonds in QWEEN’s signature split-prong bead setting, with the purple stone standing out beautifully against rose gold.

7. Watch Me Fly Pendant

Inspired by the transformation of a butterfly, this pendant pairs diamond-set wings with a vibrant pink sapphire ombré. It is playful, colourful and symbolic, making it a thoughtful festive gift for someone stepping into a new chapter, or a piece to wear as your own little statement.

8. Leave An Impact Bracelet

Sometimes, less really is more. The Leave An Impact Bracelet uses a clean combination of white and yellow gold, with no stones at all. The design relies on the meeting of the two metals, giving it a sleek, contemporary finish that can easily be worn with festive watches, bangles or stacked bracelets.

9. Fangirling Over Myself Hoops

Your festive wardrobe deserves a pair of hoops that can hold their own. These rose gold hoops feature 54 diamonds set around the entire circumference, creating a continuous line of sparkle that catches the light from every angle. Wear them with an updo, a sleek festive look, or even a simple monochrome outfit.

10. Free Fall Earrings

For a festive look that calls for something unexpected, the Free Fall Earrings bring together an angled octagon-cut amethyst with flowing, diamond-set ribbons. The contrast between the structured gemstone and fluid design gives these earrings plenty of movement and personality.

This festive season, let your jewellery do more than complete the outfit. From statement-making designs to pieces made for everyday layering, QWEEN brings a fresh, personal edge to festive dressing and gifting.

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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.

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