The All India Gem & Jewellery Domestic Council inaugurated its Mumbai office on May 14 while urging industry support for revised gold duty measures and proposing a structured Gold Monetization Scheme roadmap.

As India raises gold import duty to 15%, leading jewellery players and trade bodies support gold conservation measures while warning of liquidity pressure, export challenges and rising risks to MSMEs.

The Finance Ministry has increased customs duty across multiple precious metal and jewellery categories, impacting gold, silver, platinum findings and recycled precious metal imports effective from May 13, 2026.

India–Oman CEPA abolishes duty on Indian gems and jewellery in Oman from December 2026, with GJEPC projecting exports rising from $ 35 million to $ 150 million within three years.

The Gem & Jewellery Export Promotion Council presented key policy proposals to the Government seeking tax reforms, industry incentives, and regulatory ease to strengthen India’s leadership in diamonds, gold, coloured gemstones, and lab-grown diamonds.

Industry leaders have praised the Union Budget for boosting consumer demand through tax reforms, increasing disposable income, and supporting economic growth

The Union Budget 2025-26 brings relief and strategic reforms for the jewellery sector. While the customs duty on gold remains steady at 6%, key changes include new tariff classifications for gold and silver, along with significant duty cuts on platinum findings and jewellery components

The World Gold Council (WGC) has expressed concerns about the potential hike in gold import duties in India’s upcoming Union Budget for 2025

The ICRA report projects a robust 14-18% year-on-year growth in India’s gold jewellery consumption for FY25, driven by factors like the customs duty cut, festive demand, and rural income boost. Organised retailers are expected to lead the growth with network expansions and rising consumer preference for branded jewellery

The domestic gold jewellery industry is projected to grow by 14-18% year-on-year in FY25, according to an ICRA report, despite expected volume contraction

Titan reported a 23% decline in its Q2 profit due to inventory losses and shrinking margins, attributed to the reduction in customs duty on gold imports. Despite this, the company saw strong growth in its jewellery and watches segments

Kalyan Jewellers, the Kerala-based jewellery retailer, posted an impressive 37% year-on-year revenue growth for the second quarter of FY25, buoyed by strong demand for gold across key markets.

CaratLane, India’s leading omni-channel jewellery brand, has launched its ‘Festive Edit’ for Diwali, featuring a diverse collection that celebrates individuality through jewellery

The Indian jewellery market is set for a strong rebound in the coming months, with Nuvama predicting an 18% surge in gold jewellery demand