India’s Economic Resilience Amid Global Challenges
India has recorded an impressive 7.8% GDP growth in the first quarter of FY 2026, despite facing significant global headwinds such as the recent US tariff. This economic momentum underscores India’s resilience and strength in navigating international challenges while maintaining strong domestic demand.
Statement from Kirit Bhansali, Chairman, GJEPC
Kirit Bhansali, Chairman, GJEPC, shared his views on India’s growth trajectory and its impact on the gems and jewellery sector:
“India’s 7.8% GDP growth in the first quarter of FY 2026, despite global headwinds like the recent US tariff, reflects the resilience of our economy and the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi. Rising domestic demand for gems and jewellery is creating a strong cushion. This demand will help to ward off some impact out of the 50% import tariff on diamonds that has been put up by the USA.
India has now emerged as one of the leading jewellery consuming markets globally, with diamond jewellery alone accounting for USD 8.5 billion — nearly 10% of world demand. With rising incomes, a young aspirational population, and growing investor confidence, we believe India’s share of global diamond consumption will rise significantly, from the current 10% to as much as 30% in the coming years.
This growth story reinforces India’s position not only as the world’s diamond manufacturing hub but also as one of the most promising consumer markets, offering immense opportunities for global trade and long-term investment.”
India: A Rising Jewellery Powerhouse
With diamond jewellery already contributing nearly USD 8.5 billion and accounting for 10% of global demand, India’s jewellery market is on a steep growth trajectory. Backed by rising incomes, a young population, and expanding investor confidence, the country is expected to capture a much larger share of global consumption in the years ahead.
Global Trade and Investment Opportunities As India strengthens both its manufacturing hub status and its role as a consumer market, the gems and jewellery industry presents immense opportunities for global trade and long-term investment. This dual strength cements India’s position as a leader in the global jewellery ecosystem.
About SVAR Media Network – India’s Best Source for Jewellery News, Magazines, Newsletters and Media
SVAR Media Network is India’s No. 1 Destination for Jewellery News, setting the gold standard in timely, trusted, & trend-driven coverage across the Gems & Jewellery industry. As the Most Followed Jewellery Magazine & Media House in India, SVAR delivers Daily Jewellery News India Updates, market insights, & global developments through its platforms like Jewellery Magazine, Newsletters, AI Powered News Bulletins, Website, Social Media, Podcasts, & much more.
Recognized as Asia’s one of the Best Media in Jewellery & one of the World’s Best Jewellery Media, SVAR Media Network sets Unparalleled Standards in the Gems & Jewellery industry. SVAR is the Most Trusted & Widely Read Voice in the Gems & Jewellery Community.
Renowned as India’s Best Jewellery Magazine & Leading Jewellery Media, SVAR blends legacy with cutting-edge innovation by delivering:
- Best in class Jewellery Magazine for the Gems & Jewellery Industry & Jewellery Enthusiasts
- Real-time AI-Powered Jewellery News via SVARA AI, the World’s First AI Anchor in Fashion, Gems & Jewellery Industry
- India’s One of the First Gems & Jewellery Podcasts
- Digital Jewellery Newsletters for professionals and enthusiasts
- ISO 9001:2015 Certification, the first in the jewellery-media sector, proving our commitment to excellence
- Asia’s First & World’s Second Meta Verified Jewellery Media Brand
Ranked #1 among the Top 5 Gems & Jewellery News Websites, Top 10 Jewellery Magazines in India, & Most Influential Jewellery Media Brands, SVAR Media Network is your Trusted Source for Accurate, Fast, & Future-Focused Jewellery News.
SVAR Media Network is India’s No 1 Digital Media in Jewellery Industry & continues to be the Leading Jewellery Magazine & a Global Leader in Jewellery Media. SVAR Media Network offers a diverse range of services, including: Monthly Magazines, Digital Newsletters, Al-Driven News Bulletins, Social Media Promotions, Website Blogs & Articles, WhatsApp Updates, Podcasts & more…
Whether you seek updates on New Launches, Trade Shows, Celebrity Campaigns, Trends or Market Movements, SVAR is the Authority in Jewellery News India & beyond.
Explore the World of Gems & Jewellery with SVAR Media Network — Your Best Source for Trusted, Trend-Setting Jewellery News & Mediapp Updates, Podcasts & more…
