With the India-EU Free Trade Agreement (FTA) negotiations nearing completion and the upcoming India-EU Summit in New Delhi on 27 January 2026, the Gem & Jewellery Export Promotion Council (GJEPC) has urged the Government of India to secure duty-free market access for Indian jewellery exports to the EU. With rising gold and silver prices, such concessions would offer a significant competitive advantage for Indian-made products.
Strategic Proposals
Currently, EU import duties of 2.5–4% on gold, silver, platinum, imitation jewellery, and coins limit the competitiveness of Indian exporters. GJEPC has formally requested the reduction or elimination of these tariffs. To ensure a balanced FTA, the council has also suggested calibrated concessions on select EU imports, especially diamonds and coloured gemstones.
Shri Kirit Bhansali, Chairman of GJEPC, said: “We appreciate the efforts of Hon’ble Prime Minister Shri Narendra Modi and Commerce and Industry Minister Shri Piyush Goyal in advancing the India-EU FTA. Reducing tariffs on jewellery is vital to help Indian exporters increase their market share in Europe, improve MSME margins, and support employment across the value chain.”
Unlocking Market Potential
A robust FTA could transform India’s export profile, allowing the country to move beyond raw material supply and scale in higher-value jewellery categories. India currently exports $2.7 billion worth of gem and jewellery products to the EU, with imports at $2.5 billion. Cut and polished diamonds dominate ($1.72 billion), followed by gold jewellery ($453 million) and silver jewellery ($85 million).
India’s share of the EU market remains low: 4.1% in gold jewellery, 4.2% in silver, and just 2% in imitation jewellery. According to ITC Trade Map, India has an untapped export potential of $16 billion in jewellery products to the EU. GJEPC expects the FTA to enable Indian exporters to tap into this opportunity, strengthen global positioning, and scale high-value finished jewellery categories.
