National News
India’s Jewellery Exports Face Significant Decline Due to U.S. Tariffs
With the U.S. imposing a 26% reciprocal tariff, India’s $32 billion gems and jewellery industry braces for a sharp fall in exports, especially to its largest
India’s $32 billion gems and jewellery industry is gearing up for a sharp decline in exports as the imposition of hefty U.S. tariffs is expected to disrupt sales to its largest market, officials say. The United States recently imposed a 26% reciprocal tariff on India, marking a significant setback to the country’s export ambitions under President Donald Trump’s global trade policy.
“The tariff is higher than expected,” said Colin Shah, managing director of Kama Jewelry, one of India’s leading diamond jewellery manufacturers. “It is quite severe and will affect exports.”
India remains the world’s largest hub for diamond cutting and polishing, processing nine out of every ten diamonds globally. The United States accounts for nearly $10 billion—or 30.4%—of India’s annual gems and jewellery exports.
Despite its importance, the gems and jewellery sector, India’s third-largest export to the U.S. after engineering and electronics, is already struggling. The industry employs millions in India and has seen a recent downturn due to weak demand from China, resulting in a 14.5% drop in exports to $32.3 billion in the 2023-24 fiscal year.
However, industry leaders remain optimistic that a long-term bilateral trade deal with the U.S. could alleviate some of the negative impact. “We’re pretty hopeful that India could land a trade deal with the U.S. in the next few months. So, we just need to push through this tough phase for a little while longer,” said Shaunak Parikh, vice chairman of the Gem and Jewellery Export Promotion Council (GJEPC).
National News
Maharashtra Industries Minister unveils GJC Diwali Edition 2026 at JWCC, Mumbai
10th edition of the GJS brings together jewellers, designers, buyers, and industry leaders from across India and abroad.
GJC proudly inaugurated the 10th edition of the India Gem & Jewellery Show (GJS 2026 Diwali Edition), celebrated as #HumaraApnaShow—India’s most premium B2B jewellery exhibition—at the iconic Jio World Convention Centre, Mumbai. Inaugurated today, the show will continue until October 4, 2026, bringing together jewellers, designers, buyers, and industry leaders from across India and abroad.
The grand inauguration ceremony was graced by Chief Guest Uday Samant , Cabinet Minister for Industries and Marathi Language, Government of Maharashtra, along with Guest of Honour. Srinivas Injeti, Chairman, IAGES, Mahesh Jain, President, UP Sarafa Association, and Special Guest. Rajiv Jain, Chairman, JJS. Present were Rajesh Rokde, Chairman GJC; Avinash Gupta, Vice Chairman GJC; Saiyam Mehra, Convenor GJS and Past Chairman GJC; along with members of the GJC Committee of Administration and other senior industry leaders, underscoring the collective strength and unity of India’s jewellery fraternity.
- Uday Samant said: “It is a privilege to inaugurate the 10th edition of the India Gem & Jewellery Show (GJS), a platform that reflects the strength, creativity, and resilience of India’s jewellery industry. Maharashtra has always been a hub for trade and craftsmanship, and GJS showcases how tradition and innovation can come together to drive growth. I congratulate GJC for creating this world-class exhibition and for their continued efforts to empower jewellers, entrepreneurs, and artisans across the country.”
- On the occasion Rajesh Rokde, said “The inauguration of the 10th edition of GJS marks a milestone moment for India’s jewellery industry. With the blessings of our esteemed Chief Guest, Shri Uday Samant Ji, Cabinet Minister for Industries and Marathi Language, Government of Maharashtra, and other dignitaries, this edition sets the stage for jewellers to showcase innovation, strengthen business ties, and celebrate the brilliance of Indian craftsmanship. GJS continues to reaffirm India’s position as the global hub for gems and jewellery.”
- Avinash Gupta said ,: “The successful inauguration of GJS2026 reflects the resilience and vibrancy of our industry. As festive demand grows stronger, this platform will highlight innovations that cater to evolving consumer preferences while keeping heritage intact. We are proud to see GJS emerge as the ultimate sourcing destination for jewellers across India and abroad.”
- Saiyam Mehra said, ““GJS is more than an exhibition—it is a celebration of resilience, creativity, and opportunity. Today’s inauguration sets the tone for three days of networking, knowledge sharing, and recognition, including the prestigious National Jewellery Awards tomorrow. Together, we are shaping the future of the industry with confidence and vision.”
This show will be featuring diverse product categories—Gold & Silver Jewellery, Couture & Diamond studded Jewellery, Loose Diamonds, Gemstones & Pearls, Lab Grown Diamonds & Jewellery, and Allied & Machinery GJS is a tribute to India’s 5,000-year-old jewellery heritage
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