The Indian gem and jewellery market, currently valued at USD 85 billion, is poised for rapid growth, projected to reach USD 130 billion by 2030 according to the Gem & Jewellery Export Promotion Council (GJEPC), the apex trade body of the gem and jewellery industry.
While addressing a press conference Vipul Shah, chairman of GJEPC said “GJEPC has invested Rs 150 crores in the global generic promotion of diamonds till date. To strengthen this effort, GJEPC partnered with De Beers to promote diamonds through Retail Alliance in India, with a formal MoU signed on January 7.””
De Beers Group, the world’s leading diamond company, and GJEPC announced the commencement of a strategic collaboration to strengthen the natural diamond narrative within the Indian gem and jewellery trade.
The collaboration titled, INDRA – Indian Natural Diamond Retailer Alliance, will focus on supporting independent retailers in India with tools that go beyond the conventional like leveraging Artificial Intelligence to create customized retailer campaigns.
GJEPC will be organizing its inaugural exhibition in Saudi Arabia from 11-13 September 2025. This event aims to serve as a gateway for strengthening bilateral trade between India and the GCC region, unlocking unparalleled opportunities for collaboration and growth. “This will serve as a gateway to boost bilateral trade between India and the GCC region,” said Mr. Shah.
Additionally, in a move to boost gem and jewellery exports via e-commerce, GJEPC signed an MoU with DHL Express, the global leader in international express services, to facilitate the efficient shipping of India-crafted jewellery worldwide, said Mr Shah.
On the export front, Mr. Shah remained optimistic about 2025. “With the US President Donald Trump’s return to the White House, there is hope for renewed stability in the geopolitical landscape, revitalized trade, and stronger supply chains, driving global demand for gems and jewellery. However, GJEPC is continuously exploring new markets while strengthening its presence in existing ones,” said Mr Shah.
*GJEPC is also planning to make Singur in West Bengal as a global export hub for fashion and costume jewellery. “Singur has a skilled workforce of around 1 lakh Bengali artisans, who are working in manufacturing units located in and around Singur, Hooghly. 20% of the workforce are women and the development of Singur as an export hub will give a boost to the local cottage industry too. Vendors who import raw materials are located in Singur. Imported quality Gypsum manufacturing also started in Singur recently. Singur in Hooghly district is ideally located centrally and close to 5 railway stations, close to NH-2 which is connected to Kolkata International Airport.
Singur has artisanal heritage as Kolkata’s renowned craftsmanship serves as a foundation, offering a rich legacy of artistic skills that can be leveraged by Singur’s jewellery manufacturers. He added, “Shifting global trade dynamics, with the US directing procurement away from China, present a strategic opportunity for Singur’s manufacturers to meet this demand and elevate their global presence.
