India’s gem and jewellery sector recorded a 9.07% decline in exports during April 2026, with cut and polished diamonds and plain gold jewellery facing significant pressure. However, silver jewellery, platinum jewellery, studded gold jewellery, and coloured gemstones registered notable growth amid rising bullion prices and changing global demand trends.

GJEPC leadership met Maharashtra Chief Minister Shri Devendra Fadnavis to discuss key industry priorities including Maharashtra State Gem & Jewellery Policy 2025, India Jewellery Park Mumbai, single-window approvals for exhibitions, and metro connectivity for Bharat Diamond Bourse.

The All India Jewellers and Goldsmith Federation (AIJGF) met Union Minister Shri Chirag Paswan Ji to discuss concerns regarding the jewellery industry, gold demand, livelihoods, and the proposed Bullion Bank Framework aimed at reducing India’s Gold Import Bill.

AIJGF has urged the Government of India to establish a regulated Bullion Bank Framework to mobilise idle gold, reduce the Gold Import Bill, and safeguard the livelihoods of nearly 35 million people connected to the jewellery and bullion ecosystem.

A major gold smuggling case at Delhi Airport has highlighted growing concerns over increasing illegal gold trafficking after India raised import duties on precious metals. Customs officials seized 115 gold bars worth over ₹5.7 crore from a US passenger arriving from San Francisco, pointing to a broader rise in organised smuggling activity.

India has tightened import regulations for select silver categories under the revised DGFT policy framework. The move places specific silver products under the “Restricted” category, requiring authorisation for imports meant for domestic consumption, while export-oriented imports remain exempt.

GSI, in collaboration with Bharat Ratnam Mega CFC, successfully conducted a Gem Identification Masterclass focused on gemstone education, technical expertise, treatment detection, and consumer transparency for jewellery industry professionals.

CA Surendra Mehta, National Secretary of IBJA, discusses the challenges around gold imports, Gold Monetisation Scheme (GMS), lending and borrowing regulations, and key government measures aimed at controlling CAD and reducing pressure on the rupee.

GJC organised a virtual Industry Meet on 13th May 2026 with participation from over 250 jewellers and stakeholders across India to discuss the impact of the recent import duty hike on Gold, Silver & Platinum and the future outlook of the Gems & Jewellery industry.

The All India Gem and Jewellery Domestic Council (GJC) inaugurated its new office in Mumbai on 14th May 2026, with prominent dignitaries, industry stalwarts, COA members, and policymakers attending the landmark occasion.