Editor’s Note
This article highlights the anticipated boost to India’s gem and jewellery exports following the India-UK free trade agreement, with GJEPC’s Sabyasachi Ray projecting a rise from $764 million to $2.5 billion in three years, driven by tariff removal and strong demand from the UK’s South Asian diaspora.
Sabyasachi Ray, Executive Director of the Gem and Jewellery Export Promotion Council (GJEPC), believes the agreement will strengthen India’s position in both traditional and modern jewellery segments. The UK has a large South Asian consumer base, creating strong demand for handcrafted, ethnic and lightweight jewellery made in India.
By Manisha Gupta
July 16, 2026, 3:02:27 PM IST (Published)
2 Min Read
Sabyasachi Ray, Executive Director of the Gem and Jewellery Export Promotion Council (GJEPC), said India’s gem and jewellery exports to the UK currently stand at around $764 million and are expected to reach $2.5 billion within three years. He attributed the expected growth to the India-UK free trade agreement, which removes tariffs and improves the competitiveness of Indian jewellery in the UK market.
The council believes the agreement will strengthen India’s position in both traditional and modern jewellery segments. The UK has a large South Asian consumer base, creating strong demand for handcrafted, ethnic and lightweight jewellery made in India. At the same time, Indian manufacturers are expected to gain market share in machine-made and studded jewellery that was earlier sourced from Europe.
Ray also said the India-UK agreement could serve as a stepping stone ahead of the proposed India-European Union trade deal. Once the EU agreement comes into force, Indian exporters expect access to a much larger market under similar tariff advantages.
On the export front, GJEPC remains optimistic after a strong performance in June. Lower gold prices helped improve demand in volume terms, while exporters managed to navigate temporary supply-related challenges. Studded jewellery exports remained robust, supported by healthy demand for both natural and laboratory-grown diamonds. The council also sees early signs of stability returning to the natural diamond market after an extended slowdown, with prices improving in some categories.
Regionally, the United States continues to be the strongest export market for Indian gem and jewellery products. Europe is also showing encouraging momentum, helped by a gradual shift in sourcing away from China and Hong Kong. China, however, remains a weak market, with GJEPC expecting the recovery to take longer as demand remains subdued.