Union Finance Minister Nirmala Sitharaman received a delegation from the Gem and Jewellery Export Promotion Council (GJEPC) at Parliament House, New Delhi, on Wednesday, 22 July 2026, in a consultative meeting that underscores the government's ongoing engagement with one of India's most significant export sectors.

Context

The GJEPC is the apex body representing Indian exporters of gems and jewellery, and its delegations to the Finance Ministry are a recognised channel through which the sector conveys its policy priorities. Meetings at Parliament House during the Budget and inter-Budget period carry particular weight, as they feed directly into fiscal and trade policy deliberations. The council's outreach to Sitharaman reflects the sector's keenness to engage at the highest level of economic decision-making.

Policy Backdrop

India's gems and jewellery industry is a pillar of the country's merchandise export basket, making it a consistent priority in trade and fiscal planning. The Foreign Trade Policy 2023 laid out a framework of incentives and market-access measures specifically targeting labour-intensive export sectors, including gems and jewellery. The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, introduced in 2021, replaced the earlier MEIS mechanism and extended automatic export incentives to jewellery and allied products, signalling the government's intent to keep the sector competitive globally.

Duty structures on gold and precious stones, value-addition norms, and access to new international markets have been recurring agenda items in such engagements. Any revisions to these parameters — whether through Budget announcements or Foreign Trade Policy updates — can materially affect the competitiveness of Indian gem and jewellery exporters.

Stakeholders and Impact

The sector spans a wide ecosystem: large gem exporters, thousands of jewellery MSMEs, artisans, and ancillary logistics and finance providers. Decisions emerging from consultations like this one can influence export incentive rates, import duties on raw materials, and compliance requirements for small manufacturers. GJEPC members operating in hubs such as Surat, Mumbai, Jaipur, and Kolkata watch these ministerial meetings closely for signals on policy direction ahead of the next Union Budget.

Beyond domestic stakeholders, India's position in global gem and jewellery trade — competing with centres in Belgium, the UAE, and Thailand — means that policy calibration has export-market consequences as well.

What's Next

Industry observers will track whether GJEPC's representations translate into concrete measures in the next Union Budget or in amendments to the Foreign Trade Policy. Adjustments to RoDTEP rates, rationalisation of import duties on rough diamonds and gold, or enhanced market-development assistance for jewellery exporters are among the outcomes the sector typically seeks from such engagements. The Finance Minister's willingness to meet the council signals that these representations will receive formal consideration in the government's policy process.