National News
Union Budget FY 2025-26
GJEPC welcomes new Export Promotion Mission, National Manufacturing Mission & the National Centres of Excellence Skilling
Budget Reaction by Mr. Vipul Shah, Chairman, GJEPC
“Union Budget presented by Hon. Finance Minister Smt. Nirmala Sitharaman puts India in the growth path to Viksit Bharat. The Budget reforms will help to realise India’s domestic growth potential and unveil a new trade roadmap to navigate global uncertainties.
GJEPC welcomes the recognition of exports as the 4th engine of growth and the new Export Promotion Mission with sectoral and ministerial targets, driven jointly by Union Commerce, Finance & MSME Ministries. This will facilitate easy access to export credit cross border and factor support to MSMEs to tackle non-tariff barriers in exports. GJEPC welcomes the digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade to be set-up as a unified platform for trade documentation and financing solutions.
GJEPC further welcomes the proposal of creating of new tariff items in Chapter 71 so as to distinguish precious metals – containing 99.9% or more by weight of silver, containing 99.5% or more by weight of gold, containing 99% or more by weight of platinum under headings 7106, 7108 and 7110 respectively. This move aligns with the representation made by GJEPC for addressing the issue of classification of alloys of Platinum (pre-dominantly containing gold), which was invariably leading to claim of unwarranted customs duty exemptions for import of Platinum under India-UAE CEPA .
Gem & Jewellery sector comprises of 85%-90% of MSMEs. The revision in classification criteria of MSMEs especially with those with turnover from Rs. 250 crore to Rs. 500 crore will help them achieve higher efficiencies of scale, technological upgradation and better access to capital. The extension of credit guarantee cover to MSMEs leading to additional credit of Rs. 1.5 lakh crore in the next 5 years will benefit and provide boost to the MSMEs in the sector.
The Government’s stable approach on duties and levies across gem & jewellery products will enhance ease of doing business. The Basic Customs duty rate has been reduced from 25% to 5% on platinum findings classified under 7113 will enable consumers to get a new product and increase affordable jewellery sales..
GJEPC welcomes the Government’s labour intensive focus enhancing productivity, quality manufacturing and global competitiveness. G & J industry is labour intensive with 5 million people employed in Exports. The announcement of National Manufacturing Mission & the National Centres of Excellence Skilling furthering ‘Make for India ‘Make for the World’ is positive and is set to have direct benefit to the sector.
GJEPC welcomes income tax relief incentives to boost consumer demand. Overall, Union Budget presented by Hon. Finance Minister Smt. Nirmala Sitharaman puts India in the growth path to Viksit Bharat. The Budget reforms will help to realise India’s domestic growth potential and unveil a new trade roadmap to navigate global uncertainties.
GJEPC remains committed to collaborating with the Government of India to ensure the sector continues to contribute significantly to the nation’s economy. Council requests the issuance of FAQs on Safe Harbour Taxation. We seek Hon. FM’s support for co-funding global diamond promotion campaigns, the inclusion of jewellery parks in the harmonised infrastructure list, and an Infrastructure Support Fund to develop a Gem Bourse in Jaipur.
GJEPC urges the Government to align regulations with global benchmarks, to set up a policy that promotes exports, innovation, use of technology, and incentivises sustainable practices.
National News
Indriya, Aditya Birla Jewellery, Curates Exclusive Gold, Heirloom-Inspired and Temple Craftsmanship For House Of Masaba’s Bridal Showcase At India Couture Week
Handcrafted By Master Artisans, Delivers On Enduring Expressions Of Culture and Artistry Through Reimagining How Traditions Are Worn For The Contemporary Bride
Indriya, Aditya Birla Jewellery, unveiled an exclusive jewellery curation for House of Masaba’s bridal showcase at India Couture Week 2026. Marking House of Masaba’s first-ever bridal couture showcase, the collection celebrated a bride who is fearless, joyful and unapologetically herself, rooted in heritage yet free in expression. Complementing this vision, Indriya brought together a thoughtfully curated selection of jewellery that reflected both India’s rich craftsmanship traditions and contemporary design sensibilities. Backed by the trust of the Aditya Birla Group, the brand showcased how heritage-inspired creations, modern silhouettes and evolving design expressions can come together for today’s consumer. The runway was further elevated by an iconic line-up featuring supermodels Madhu Sapre, who returned to the India Couture Week runway after nearly a decade, alongside Carol Gracias, Sheetal Mallar and Sakshi Sindwani, each bringing the collection to life through their distinctive presence.






Themed around reimagining how traditions are worn, the exclusive curation featured some of Indriya’s most exquisite jewellery, inspired by the country’s diverse cultures and regional design languages. From classic yellow gold and heirloom-inspired antique jewellery to temple jewellery adorned with intricate nakshi work, Rajasthan’s iconic aads, delicate filigree craftsmanship, ceremonial maang tikas and vibrant coloured stones set in gold, the curation also reflected Indriya’s contemporary design language through versatile creations crafted for modern tastes and lifestyles. Styled with House of Masaba’s bridal creations, where heritage, colour and individuality take centre stage, the jewellery became a natural extension of the show’s narrative, celebrating Indian craftsmanship through a distinctly contemporary lens.
Speaking about the collaboration, Shantiswarup Panda, Head of Marketing at Indriya, said:

“Fashion and jewellery have always shared a powerful dialogue, each elevating the other. Our collaboration with House of Masaba at India Couture Week brought together two distinct creative visions rooted in Indian heritage, offering Indriya the opportunity to present its design philosophy within a larger cultural conversation, where craftsmanship, creativity and contemporary expression come together.
The collection provided the perfect canvas for our jewellery, demonstrating how India’s rich jewellery traditions continue to evolve while remaining deeply relevant to the modern consumer.”
Every creation was handcrafted by master artisans using techniques refined over generations. Intricate detailing, exceptional stone setting and thoughtfully crafted motifs transformed each jewel into an enduring work of art. Styled with House of Masaba’s contemporary bridal silhouettes, the collection reimagined traditional jewellery beyond conventional occasions, revealing its versatility and relevance for the modern bride.
Designer Masaba Gupta said:
“I’m very excited to bring on Indriya as the jewellery partner for my first couture show. I think that the brand is at the perfect cusp of tradition and modernity. I have seen some of the pieces and instantly feel like they will belong not just on the runway but also in our wardrobes and as part of our personal collections. The jewellery is exquisitely crafted and has a lot of storytelling, and I think that the brand is very loud and proudly Indian, which I love and which is what House of Masaba stands for.

It is also a brand that has been able to ignite a lot of trust within the market because it comes from the Aditya Birla Group, and I think when it comes to fine jewellery and bridal jewellery, it’s very important to have that trust, and I think that they do that beautifully,”
Speaking about the jewellery curation, Abhishek Rastogi, Head of Design at Indriya, said:

“For House of Masaba’s showcase at India Couture Week, Indriya brought together a curation that celebrates the breadth and richness of Indian jewellery craftsmanship. Every creation reflects the artistry of master craftsmen, where generations-old techniques, intricate handwork and regional traditions come together in timeless design. Styled with contemporary couture, the collection reaffirms that India’s finest jewellery traditions are not simply preserved, they continue to evolve, proving that heritage remains an enduring source of inspiration for modern design.”
With this exclusive showcase at India Couture Week 2026, Indriya and House of Masaba presented a celebration of contemporary Indian bridal expression. Bringing together House of Masaba’s vibrant, heritage-inspired vision for the modern bride and Indriya’s curation of exceptional regional jewellery craftsmanship, the collaboration demonstrated how tradition can be continuously reinterpreted through fashion and jewellery. Together, the two brands created a powerful narrative of culture, individuality and artistry, honouring India’s rich creative legacy while shaping its future.
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