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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.

National News

5 Ways To Elevate Your Diwali Style With Diamond Stacking

Discover five stylish ways to layer, mix and stack natural diamond jewellery this Diwali, creating festive looks that blend timeless elegance with contemporary personal style.

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The best Diwali looks begin with light. It catches on silk, reflects off sequins and comes alive in the brilliance of a natural diamond. This festive season, let your jewellery take centre stage with a little more sparkle and a lot more personality.

From intimate family gatherings and card parties to glamorous Diwali soirées, jewellery is often what completes the festive look. And while a statement piece will always have its place, this season is all about a more personal approach to dressing up: layering, mixing and stacking your favourite pieces to create a look that feels distinctly your own.

Real diamonds lend themselves beautifully to this way of styling. Their timeless versatility allows them to move effortlessly from traditional to contemporary, from understated afternoon celebrations to dressed-up evenings. The key is knowing what to layer, where to add sparkle and when to let a single piece shine.

Here are five ways to make natural diamonds part of your Diwali style story this season:

Layer your necklaces for a modern festive neckline There is something effortlessly glamorous about layered necklaces with festive Indianwear. The trick is to play with length, proportion and scale rather than making every piece compete for attention. Start with a rare diamond solitaire pendant and layer it with a slightly more substantial necklace or a contemporary tennis necklace. With a traditional silk saree or an embellished blouse, richer layers can complement the grandeur of the outfit. With a simpler kurta, saree or lehenga, delicate diamond layers can bring just the right amount of luminosity. Think of it as building your look one layer at a time. The aim is not uniformity, but dimension.

Make a statement with a stack of diamond rings The days of keeping every ring perfectly matched are giving way to a more expressive approach. This Diwali, mix shapes, sizes and silhouettes to create a ring stack that feels personal. Try pairing a classic round diamond with a crisp emerald cut or contrast a sleek band with a more sculptural statement ring. And don’t feel the need to keep every ring on one finger. Spread your stack across both hands for a look that feels more effortless. The beauty of asli diamonds is that every piece brings its own character to the combination. Together, they create a look that feels considered without looking overly styled.

Give festive dressing a contemporary twist with ear stacking If you want to bring a youthful edge to traditional festive dressing, look no further than your ears. Start with a diamond stud or a pear-shaped diamond on the lobe, then build upwards with smaller round studs, delicate hoops or an elegant ear cuff. Mixing different sizes and silhouettes creates a subtle cascade of sparkle without taking away from the rest of your jewellery. It works particularly well with a sleek low bun, a side-swept hairstyle or an updo that leaves the ears beautifully exposed. Paired with a saree, lehenga or even a sharply tailored festive look, an ear stack can make classic dressing feel instantly more contemporary.

Layer your bracelets for a little wrist drama A festive outfit deserves a little sparkle every time you move. This Diwali, let your wrists do some of the talking. Pair a natural diamond tennis bracelet with classic gold bangles, a diamond cuff or a delicate chain bracelet. The contrast between the fluid brilliance of diamonds and the structured form of traditional bangles creates an effortlessly modern combination. For daytime celebrations, keep the layers lighter and more delicate. Heading to a Diwali party in the evening? Add a little more drama with varied bracelet widths and textures. The secret is to mix rather than match. Different pieces can sit beautifully together without looking like they were bought as a set.

Mix the old with the new and make it your own Perhaps the most personal way to embrace jewellery stacking is to forget the rules altogether. Pair a traditional diamond pendant with contemporary solitaire earrings. Wear a tennis necklace with a classic festive saree. Or bring an heirloom diamond into the mix with a newer piece, creating a combination that brings different chapters of your life together. This is where natural diamonds have a particular resonance. They are not pieces that need to be saved for one occasion. They can become part of your everyday wardrobe, be dressed up for Diwali and return again for birthdays, anniversaries, weddings and all the moments in between.

Ultimately, jewellery stacking is less about following a formula and more about finding combinations that feel like you. Start with the pieces you love, experiment with proportions and don’t be afraid to mix the traditional with the unexpected.

Because while trends may change, the value of a real diamond goes beyond the season. It is its brilliance, rarity and the meaning it gathers over time that makes it something to wear, return to and pass on.

This Diwali, let your jewellery tell your story, one layer, one sparkle and one memorable celebration at a time.

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