Editor’s Note
In response to recent U.S. tariffs, Indian jewellery exporters are strategically shifting focus to new markets in West Asia. This pivot is marked by the launch of a dedicated B2B trade show in Jeddah this September, aiming to establish a crucial foothold in the region.
Indian Exporters Pivot to West Asia
Stung by U.S. tariffs on Indian diamond and jewellery exports, the country’s exporters are now looking to establish a foothold in the untapped West Asia market. As a first step, a dedicated B2B jewellery show, the first of its kind, is to be held at the Jeddah Superdome from September 11-13.
SAJEX 2025 Details
More than 100 exhibitors are set to participate across 200 booths. SAJEX 2025 (The Saudi Arabia Jewellery Exposition) will host over 2,000 buyers from Saudi Arabia, the UAE, Hong Kong, and Lebanon. Indian exporters will showcase diamond and coloured gemstone jewellery; 18-karat, 21-karat, and 22-karat plain gold jewellery; platinum jewellery; lab-grown diamond jewellery; and bridal and gifting collections, as well as jewellery technology.
Industry Leader on Strategic Goals
“SAJEX marks a strategic step forward in our mission to strengthen India–Saudi ties in the gem and jewellery sector. Saudi Arabia’s jewellery market is projected to grow from $4.56 billion in 2024 to $8.34 billion by 2030, driven by a young, high-spending demographic and a growing appetite for both traditional and modern designs. Our goal is to build on this momentum and collaborate closely with Saudi partners to position the Kingdom as a future hub for jewellery trade in the region and beyond. This is not just an exhibition — it’s the beginning of a long-term partnership built on trust, opportunity, and shared growth,”
said Kirit Bhansali, chairperson of the Gem and Jewellery Export Promotion Council.
India is the largest exporter of cut and polished diamonds, with 14 out of every 15 diamonds globally being cut and polished here. Until the U.S. suddenly imposed heavy tariffs, it was the single largest importer of Indian diamonds.
Impact of U.S. Tariffs and Market Diversification
“Due to the U.S. tariffs, our industry is worried about its fate. 30% of my export basket is to the U.S. alone, and that has dried up after the tariffs. 70% of jewellery manufactured in the Andheri SEEPZ SEZ alone goes to the USA. We need to find newer markets. It will take some time. But we are seeing some good results in the U.K. and UAE due to the Free Trade Agreements. We are extremely interested in Saudi Arabia as their per capita income is huge. The new rulers are business-friendly. I had a couple of meetings with them,”
Mr. Bhansali told The Hindu.
“India’s diamond industry has always turned challenges into opportunities. We value our skilled artisans greatly. While we hope that good sense prevails and that the U.S. reverses its tariffs, we will also keep looking at newer markets – may it be domestic or international. We are number one in diamond export and we will work our way out of the challenges,”
said Dinesh Lakhani, Group Director of Kiran Diamonds, the world’s largest exporter of cut and polished diamonds.
Challenges in Market Entry
But the path is not easy for jewellery manufacturers.
“The jewellery sector is different. It caters to a particular taste and sensibility. What we have been designing for the U.S. for years now, can’t be sold in the Saudi market. Someone else has already been catering to their jewellery requirements. So establishing yourself, building new relations and understanding their design aesthetics won’t be an overnight process,”
said Adil Kotwal, CEO of Creations Gems & Jewellery Pvt. Ltd.
