GJEPC expresses deep concern over the escalating geopolitical tensions in the Middle East region. The situation is a matter of serious concern, and we hope for stability and peace to return at the earliest to make it conducive of conducting   regular business activities.

From an industry standpoint, the Gulf Cooperation Council (GCC) countries and MENA  region is not only an important export destination for India’s gem and jewellery sector, but also a key hub where Indian companies have established business interests. These include significant investments in jewellery retail chains, regional offices, manufacturing units, and logistics networks among other trade verticals.

GJEPC’s India Jewellery Exposition Centre (IJEX) in Dubai and the Saudi Arabia Jewellery Exposition (SAJEX) initiatives are examples of long-term investments across the Middle East.

The Gulf region is also home to a large Indian diaspora, many of whom are directly associated with the gem and jewellery trade.

Given these deep connections, any prolonged instability can have implications for business sentiment, movement of goods, imports of raw materials , exports of finished goods and overall market dynamics. At present, the industry is closely monitoring developments and adopting a cautious wait-and-watch approach while continuing normal business operations wherever feasible.

GJEPC remains in touch with stakeholders from Industry and Government of India. We will assess the evolving situation to evaluate any potential impact on India’s gem and jewellery exports and would urge the Government to take steps accordingly.