‘India’s gem, jewellery sector shows resilience’

India’s gem and jewellery industry continues to demonstrate remarkable resilience and a spirit of innovation, said Kirit Bhansali, chairman of the Gem and Jewellery Export Promotion Council (GJEPC), at the inauguration of the 4th edition of IIJS Bharat-Tritiya 2026 at Bengaluru International Exhibition Centre (BIEC) here on Saturday, March 21.

Speaking at the opening session of GJEPC’s annual expo here, Mr. Bhansali said reaching ₹2.28 lakh crore in exports with over 4% growth between April 2025 and February 2026, despite a 44% dip in traditional markets like the U.S. was a testament to the industry’s successful strategy of market diversification.

“With our domestic market projected to reach $130 billion by 2030 and new FTAs unlocking doors in the UAE, Australia and beyond, we are not just navigating challenges, we are redefining them,’’ he added.

According to GJEPC, the expo, a B2B jewellery trade show, serves as a strategic sourcing gateway for the upcoming festive and wedding seasons, bringing together the entire jewellery ecosystem.

Speaking on the occasion, Gunjan Krishna, commissioner for Industrial Development and director of Industries and Commerce, Government of Karnataka, said, “While India already dominates the diamond market, our next leap must be into the high-end luxury space, leveraging our rich tapestry of heritage, from southern temple styles to northern polki. As the industry navigates global volatility, we must focus on design-led value addition and building homegrown luxury labels.’’

Supported by the Government of Karnataka and the Ministry of Commerce and Industry, the 2026 edition of the expo features over 1,100 exhibitors across over 1,900 stalls.