Kolkata: With the India-EU Free Trade Agreement (FTA) negotiations nearing conclusion and the upcoming India-EU Summit in New Delhi on 27th January 2026, the Gem & Jewellery Export Promotion Council (GJEPC) has been consistently urging the government to negotiate duty free market access for Indian made jewellery exports to EU.
With the gold and silver prices at an upsurge, this will give significant market advantage to Indian made products.
The GJEPC notes that current EU import duties—ranging from 2.5% to 4% on gold, silver, platinum, imitation jewellery and coins —constrain the competitiveness of Indian exporters.
To address this, the Council has formally sought the removal or reduction of these tariffs. In a move to ensure a balanced and mutually beneficial agreement, the GJEPC has also proposed calibrated concessions on select imports from the EU, particularly regarding diamonds and coloured gemstones.
Kirit Bhansali, Chairman, GJEPC, said: “ Tariff reduction on jewellery products is critical to help Indian exporters raise their share in Europe’s large import market, improve margins for MSMEs, and support employment across the value chain.”
A strong FTA is viewed as a catalyst for transforming the Indian export profile. By levelling the playing field, the GJEPC believes Indian exporters can move beyond raw material supply to scale volumes in higher-value jewellery categories, strengthening India’s long- term positioning in the global trade ecosystem.
The apex body has urged the government to secure meaningful, sector-specific outcomes that will expand India’s footprint in the European gem and jewellery market.
India and the European Union already share a robust bilateral trade relationship in the sector, valued at around US$ 5.15 billion. As of CY2024, India’s exports to the EU stood at US$ 2.7 billion, while imports totaled US$ 2.5 billion.
While exports are currently dominated by cut and polished diamonds (valued at US$ 1.72 billion), followed by gold jewellery (US$ 453 million) and silver jewellery (US$ 85 million), the GJEPC has been highlighting immense, untapped potential in finished jewellery categories.
