Browsing: GJEPC

GJEPC Leadership Meets Finance Minister To Seek Relief Measures Amid U.S. Tariff Impact. Kirit Bhansali, Chairman, along with Shaunak Parikh, Vice Chairman and Sabyasachi Ray, Executive Director, met the Hon’ble Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman, on 24th September to seek urgent relief measures for the gem and jewellery sector, which has been severely impacted by the recent imposition of a 50% tariff by the United States.

The event showcases India’s finest craftsmanship, innovative designs, and diverse collections, including diamonds, coloured gemstones, gold, and lab-grown jewellery. Bringing together leading exhibitors and international buyers, SAJEX provides a dynamic platform for business collaboration, networking, and expanding trade opportunities between India and the global jewellery market, reinforcing India’s position as a key hub for the gems and jewellery industry. The Gem & Jewellery Export Promotion Council (GJEPC) proudly inaugurated the first edition of SAJEX 2025 in Jeddah on 11th September 2025.

The US announcement of a sweeping 50% tariff on all Indian goods is a deeply concerning development. This move would have far-reaching repercussions across India’s economy—disrupting critical supply chains, stalling exports, and threatening thousands of livelihoods. The Indian gem and jewellery sector, in particular, stands to be severely impacted. The United States is our single largest market, accounting for over $10 billion in exports—nearly 30% of our industry’s total global trade. A blanket tariff of this magnitude is severely devastating for the sector