International News
Zambia Lifts 15% Export Duty on Precious Gemstones
Gemfields Group Limited has expressed strong support for the Zambian government’s decision to suspend the 15% export duty on precious gemstones and metals, a move expected to significantly boost the country’s emerald industry. The suspension, announced by Zambia’s Minister of Finance, Dr. Situmbeko Musokotwane, is effective immediately, meaning the duty will no longer apply to emeralds mined by Kagem Mining Limited. The company is majority-owned by Gemfields (75%) with the remaining 25% held by Zambia’s Industrial Development Corporation.
Gemfields CEO, Sean Gilbertson, lauded the government’s swift action, stating, “We express our sincere thanks to President Hakainde Hichilema’s government for their prompt and impressive action in addressing the 15% export duty on precious gemstones. The Zambian emerald sector has experienced exceptional growth over the past 16 years and is now the world’s largest emerald exporter. This decision signals a clear commitment to fostering growth and job creation in Zambia, putting our industry back on track for continued success.”
International News
GJEPC Brisbane Outreach Connects Indian Exporters With Queensland Jewellery Trade
India’s Gem and Jewellery Exports To Australia Reached US$374.33 Million In FY2025–26, Up 16% From US$322.72 Million A Year Earlier
The Brisbane portion of GJEPC’s Australia-New Zealand trade mission brought Indian gem and jewellery exporters into discussions with Queensland’s jewellery retailers, wholesalers and business bodies, while reinforcing the opportunities created by the India-Australia ECTA.
Led by Vijay Mangukiya, Convener – International Events, GJEPC, the delegation visited Brisbane on 24-25 August 2026 and met Ms. Neetu M. Bhagotia, Consul General of India in Brisbane, as part of its engagement with the local jewellery and business community.
India’s gem and jewellery exports to Australia reached US$374.33 million in FY2025–26, up 16% from US$322.72 million a year earlier, as the India–Australia ECTA’s tariff-free market access continues to open opportunities for Indian exporters.
Sridhar Iyengar, Director – International Events, GJEPC, facilitated B2B interactions with local jewellery businesses and representatives of industry and business organisations. The programme included Michael Hill, Salt Wholesaling, Omi En Vogue, Prince Jewellers, along with representatives from Business Chamber Queensland and the Australia India Business Council. The outreach also took the delegation to established jewellery stores such as Wallace Bishop and Hardy Brothers, providing an on-ground view of Australian jewellery retail presentation and merchandising.
The engagement provided the Indian delegation with a closer understanding of Queensland’s retail and wholesale landscape and opportunities to connect Indian manufacturing capabilities with local businesses. The participating Indian companies span natural and lab-grown diamonds, gold, silver, platinum, coloured gemstones and contemporary jewellery.
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