Editor’s Note
This article highlights India’s strategic trade expansion into Saudi Arabia’s jewellery market, framed as an initial step in diversifying export partnerships beyond traditional reliance on the US.
The Gem & Jewellery Export Promotion Council (GJEPC) on Thursday inaugurated the Saudi Arabia Jewellery Exhibition (SAJEX) 2025 in Jeddah, marking a significant step in strengthening India-Saudi trade relations. The three-day B2B fair, scheduled for September 11 to 13 at the Jeddah Superdome, will host more than 200 exhibitors across 250 booths.
SAJEX 2025 aims to align Indian craftsmanship with Saudi Arabia’s fast-growing jewellery demand, which is projected to reach $8.3 billion by 2030. The exhibition brings more than 200 Indian and global jewellers under one roof, catering to the increasing demand in Saudi Arabia.
Gems and jewellery contribute about $890 million to the $52.8-billion trade between India and Saudi Arabia in FY25, according to GJEPC.
Krith Bhansali, Chairman of GJEPC, said this while highlighting the bilateral synergies between the two nations.
He elaborated on India’s strengths, noting that India today is a $165-billion powerhouse in the gem and jewellery sector, which includes an $85-billion retail market, $30 billion in exports, and a $50-billion bullion trade.
Suhel Ajaz Khan, Ambassador of India to Saudi Arabia, opined that in a changing world order, SAJEX opens new avenues for economic cooperation between “two traditional and natural” trade partners. He underscored that, while Saudi Arabia represents about 50% of the Gulf region’s gems and jewellery consumption, India is one of the world’s largest exporters of gems and jewellery.
he said.
In light of unilateral tariffs now becoming the norm, he said that the key future strategy lies in leveraging complementary strengths across Indian sectors, including gems and jewellery, where India’s export capabilities and Saudi Arabia’s large consumer market are set to yield robust trade gains.
At SAJEX 2025, Suhel Ajaz Khan, the Indian envoy to Saudi Arabia, told ET Online’s Shariq Khan that Saudi Arabia’s jewellery market is a major untapped opportunity for Indian exporters. He also emphasised the India–Saudi partnership as a steady anchor in volatile global trade conditions. With rising tariffs reshaping global trade, he urged the traditional partners to deepen cooperation.
Echoing the sentiments, Siddharth Mahajan, Joint Secretary, Ministry of Commerce & Industry, noted that India brings unmatched scale, quality and innovation, being the world’s largest exporter of cut and polished diamonds, the second-largest exporter of silver jewellery, and among the top three exporters of gold jewellery. Together, India and Saudi Arabia, he emphasised, can shape a new era of bilateral trade, cultural collaboration and global brand building.
Saudi Arabia’s Ministry of Investment official Khalid A. Al-Sheddi said that the Kingdom’s fast-growing market “creates exceptional opportunities for partnership with India’s global leadership in gems and jewellery.”
The event will showcase diamond and coloured gemstone pieces, 18K-22K gold jewellery, platinum and lab-grown diamonds, and will also host a World Jewellery Investment Forum co-organised with the Kingdom’s Ministry of Investment.
Exhibitors at the venue said the expo will act as a strong platform to explore synergies, exchange expertise, and build long-term partnerships. Indian manufacturers such as Hasmukh Parekh Jewellers, Modern Impex, ZAR Jewels Pvt. Ltd, JKS Jewels Pvt. Ltd, Sky Gold & Diamonds Limited and Senco Gold Limited are among the headline participants, joined by companies from the UAE, Turkey, Hong Kong and Lebanon. The show is expected to draw more than 2,000 business visitors, including 400 top jewellers.
Key officials present at the event included Fahad Al Jubairy, Assistant Deputy Minister for Industrial Investment at the Ministry of Industry and Mineral Resources, (Govt of Saudi Arabia); Princess Nourah Al-Faisal, designer and industry leader; and Fahad Ahmed Khan Suri, Consul General of India in Jeddah.
