January 27, 2026 | Source: GJEPC | gjepc.org | News on Air
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OVERVIEW
The Gem and Jewellery Export Promotion Council (GJEPC) has welcomed the India-EU Free Trade
Agreement that eliminates import duties on Indian gems and jewellery products — aiming to double
bilateral trade from USD 5 billion to USD 10 billion.
GJEPC Chairman Kirit Bhansali thanked Prime Minister Narendra Modi and Commerce Minister
Piyush Goyal — calling it the "mother of all trade deals."
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KEY HIGHLIGHTS
- India-EU FTA: ZERO duty on Indian gems & jewellery
- Current duties removed: 2-4%
- Target: USD 10 billion bilateral trade
- Current EU gems trade: ~USD 5 billion
- All 27 EU member countries benefit
- GJEPC also welcomes India-US trade agreement
- West Asia tensions already cut exports 20% — USD 1.2 billion impact warned
- India International Jewellery Show IIJS Signature targets Rs 30,000-35,000 crore business
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WHO BENEFITS & HOW
DIAMOND POLISHERS (Surat, Gujarat):India polishes 90% of world's diamonds.
Before FTA: EU charged 2-4% import duty.
After FTA: ZERO duty on Indian diamonds.
Result: Indian diamonds cheaper in EU
→ More orders for Surat polishing units
→ Direct boost to livelihoods of lakhs of workers in Gujarat .
GOLD JEWELLERY MAKERS (Mumbai, Jaipur, Chennai):
Before FTA: European buyers paid 2-4% extra tax on Indian gold jewellery.
After FTA: Zero duty means Indian gold jewellery now equally competitive with Italian and Turkish
designs in Europe.
Result: More demand for Indian designs
→ Higher revenue for Indian jewellers .
GEMSTONE EXPORTERS (Jaipur):
India exports Ruby, Emerald, Sapphire and other coloured gemstones globally.
Before FTA: EU imposed duty on these too.
After FTA: Zero duty on all gemstones.
Result: Indian gemstones now cheapest in European markets vs competitors .
PLATINUM JEWELLERY EXPORTERS:
Growing segment of Indian exports.
Zero duty gives clear price advantage
over other country suppliers in EU.
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IMPACT IN NUMBERS
- Current India-EU gems trade: ~USD 5 billion
- Target after FTA: USD 10 billion
- Additional revenue potential: USD 5 billion+ for Indian industry
- Jobs: Industry employs 5 million Indians directly
- More exports = More employment .
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ADDITIONAL NEWS FROM GJEPC
1. INDIA-US TRADE AGREEMENT:
GJEPC also welcomes India-US interim trade agreement as major relief for gem & jewellery exports to
USA — India's largest gems export market.
2. WEST ASIA WARNING:
GJEPC warns West Asia conflict has already cut India's gems exports by 20%.Potential impact: USD
1.2 billion over next 3 months. Government support sought for alternative shipping routes.
3. IIJS SIGNATURE SHOW:
India International Jewellery Show IIJS Signature 2025 targeted Rs 30,000-35,000 crore business with:
- 3,400 stalls
- 1,700+ exhibitors
- International buyers from 60 countries
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WHAT EXPORTERS SHOULD DO NOW
Step 1: Register with GJEPC
Website: gjepc.org
Step 2: Get RCMC Certificate
Required for FTA benefits
Step 3: Check Certificate of Origin
Needed for zero duty under EU FTA
Step 4: Explore EU buyers
Use GJEPC buyer database
Step 5: Participate in trade fairs
IIJS Signature — premier B2B show
Step 6: Check India-EU FTA
product-specific rules of origin at commerce.gov.in
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ABOUT GJEPC
The Gem and Jewellery Export Promotion Council (GJEPC) is India's apex body for gems and
jewellery sector since 1966.Supported by Ministry of Commerce and Industry, Government of India.
Members: 8,000+ exporters
Website: gjepc.org
Headquarters: Mumbai
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SOURCE:
GJEPC | gjepc.org
News on Air | newsOnAir.gov.in
Date: January 27, 2026