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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

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“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.

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National News

The Top 5 Jewellery Trends Defining The Season, Curated By Kushals Fashion Jewellery

India’s Leading Fashion Jewellery Brand Rounds Up The Jewellery Trends Defining The Season Ahead, From Festive Maximalism To Cool-Toned Metals.

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Every season brings a new mood. This one just happens to sparkle a little brighter. After seasons defined by quiet luxury, the Indian fashion scene is embracing a more expressive mood. Jewellery is now the conversation starter, the mood-lifter and, increasingly, the headline act. Ethnic Silver is reclaiming its cool factor, stacks are becoming more personal, and celebration dressing is embracing a touch of glorious colour and excess. From runway cues and red-carpet moments to the pieces already finding their way onto wish lists, Kushals Fashion Jewellery rounds up the 5 trends poised to shape the season ahead.

Sanya Malhotra in Kushals’ Everyday Collection

The Sculptural Statement

Some trends whisper. This one arrives with presence.

Oversized chain-link necklaces, chunky hoops and wide cuffs are emerging as favourites among the fashion set. Defined by bold proportions, smooth curves and striking metal forms, these pieces bring a sculptural quality to everyday dressing. Crafted in premium brass metal with a comfortable fit, they balance artistic expression with effortless wearability, proving that contemporary style is anything but predictable.

Desi Maximalism

“If festive jewellery had a love language, it would be bold.”

Celebration jewellery has never subscribed to the less-is-more philosophy. This season, desi maximalism is reclaiming its spotlight through bold and layered necklaces, ornate chandbalis, stacked bangles, and craftsmanship that’s impossible to overlook. From pieces crafted in antique finishes to intricate kundan designs and statement American diamond styles, these details bring richness and grandeur to every look. The beauty of fashion jewellery lies in its ability to deliver a high-impact look without burning a hole in your pocket. If there was ever a season to make an entrance, this would be it.

The Stack Edit

Once upon a time, matching sets ruled supreme. Now? The charm lies in the mix.

Layered chains, pendant combinations, ring and bracelet stacks and curated ear stories continue to dominate, turning jewellery into a form of self-expression. There’s no exact formula and that’s precisely the point. The beauty of stacking lies in building combinations that feel collected rather than coordinated, evolving with mood and personal style. With new designs launching every week at Kushals, there’s always something new to layer, mix and make your own.

The Silver Temple Revival

Some pieces do more than complete a look. They tell a story.

Intricately handcrafted and adorned with traditional temple and god motifs, silver temple jewellery is having a defining moment. Rich in artistry and rooted in tradition, these pieces bring depth and meaning to festive dressing. Crafted in BIS hallmarked 92.5 silver, they offer a timeless way to celebrate Indian traditions while embracing personal style. In an era of self-expression, wearing your roots proudly has never felt more relevant.

Enter: The Pastel Hues Era

Some jewellery sparkles. Colours have a little more fun.

The softer tones of the Pastel Hues collection are breathing new life into traditional silhouettes. Lavender and light pink hues, paired with American diamonds and enhanced with 18K gold plating, bring a fresh take to celebration dressing. Whether paired with pastel organza sarees, floral lehengas, or contemporary festive ensembles, these vibrant accents add personality and a welcome sense of fun. Equal parts celebratory and expressive, they prove that neutrals aren’t the only way to make a statement.

This season doesn’t ask you to choose between timeless and trend-driven. Instead, it invites you to have fun with both. Whether it’s the drama of desi maximalism, the optimism of the Pastel Hues collection, the cool factor of ethnic silver, the ease of stacking or the confidence of a sculptural silhouette, this season’s jewellery trends share one common thread: personality. The best pieces aren’t just worn—they say something about the person wearing them.

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