GJEPC, in collaboration with the Embassy of India in Armenia, successfully organised the India-Armenia Business Forum on Gems & Jewellery on 20 March 2026. Held in a hybrid format, the forum brought together leading Indian exporters and prominent Armenian companies to explore trade, investment, and collaboration opportunities.

Opening the session, H.E. Ms Nilakshi Saha Sinha, Ambassador of India to Armenia, highlighted the strong potential for bilateral cooperation in the gems and jewellery sector. She noted that Armenia has identified the sector as a priority for development and emphasised India’s global leadership in manufacturing, polishing, and exports. She also pointed out that 100% foreign direct investment is permitted under the automatic route in India’s gem & jewellery sector, encouraging Armenian companies to consider establishing manufacturing bases in India.

The Chief Guest, Arevik Margaryan, Head of the Department of Strategic Sector at Armenia’s Ministry of Economy, underscored Armenia’s investor-friendly policies. She highlighted tariff advantages for exports to key markets such as the United States and Russia, along with fiscal incentives and interest financing schemes for manufacturers operating in Armenia.

Adding industry perspective, Raffi Semerdjian, Secretary General of the International Chamber of Commerce (ICC) National Committee, Armenia, spoke about the country’s deep-rooted craftsmanship tradition. He noted the global presence of Armenian jewellers and the strength of its diaspora across major markets, which could serve as a bridge for expanding bilateral trade.

A detailed presentation by Sabyasachi Ray, Executive Director, GJEPC, outlined India’s capabilities, trade data, and opportunities for collaboration across diamonds, gold jewellery, gemstones, and manufacturing. He also highlighted GJEPC’s global initiatives and export promotion platforms.

The forum featured business introductions from both sides. Indian participants included Mital Doshi of Sparkel Diamonds, Yogendra Garg of Derewala Industries Ltd, and Ashish Borda of Anjali Diam, while Armenian companies such as Matrix LLC showcased their expertise in coloured gemstones and jewellery trade.

During discussions, stakeholders addressed the recent decline in bilateral G&J trade in FY 2024-25. Industry representatives cited banking constraints, falling global diamond prices, and customs-related challenges as key factors affecting trade flows. Both sides acknowledged these issues and expressed willingness to work collaboratively towards solutions.

Looking ahead, GJEPC invited Armenian participants to attend the 5th International Gems & Jewellery Show (IGJS) scheduled in Jaipur from 9-11 April 2026. The Embassy of India also proposed exchanging detailed company profiles to facilitate further engagement.

The forum concluded on a positive note, with both countries reaffirming their commitment to strengthening ties in the gems and jewellery sector through increased trade, investment, and industry collaboration.