GEM AND JEWELLERY EXPORT PROMOTION COUNCIL
Akshaya Tritiya sees tepid demand on gold price surge
Gold demand during India's Akshaya Tritiya festival remained subdued as record prices curbed jewellery purchases, despite a slight increase in investment demand. Consumers shifted towards gold coins, with overall buying volume lower, though value spending was higher due to elevated prices. This reflects a changing trend of price-sensitive buyers purchasing throughout the year.
Gold demand weakens in March as price volatility triggers buying wariness
Indian gold demand showed strength in early 2026. Retailers saw significant revenue growth, boosted by weddings and festivals. Gold ETFs experienced substantial inflows, extending a positive trend. Despite some profit-taking, investor interest in gold remained robust. Expansion plans by jewellers indicate confidence in the market.
Gold demand set to remain resilient ahead of Akshaya Tritiya; Bullion remains preferred safe-haven for wealth creation
Gold demand remains strong ahead of Akshaya Tritiya, with retail investors viewing bullion as a key wealth creation tool. Despite high prices, the festival drives demand, supported by gold's safe-haven appeal amidst global uncertainties. Younger buyers are increasingly opting for lightweight jewellery and digital gold, while investment products like coins and bars are also gaining traction.
15 banks get government nod to import gold & silver for 3 years
India has authorized 17 banks to import gold and silver. This authorization is effective for three years from April 1, 2026. The move resolves a customs clearance delay that had stalled shipments. This decision brings relief to importers and ensures smooth trade of precious metals. The new authorization is valid until March 31, 2029.
Exporters seek removal of cap on interest subvention
Indian exporters are calling on the government to lift the cap on interest subvention. They state current support is insufficient to counter rising global trade uncertainties. The Federation of Indian Export Organisations believes the subsidy scheme needs revision. This aims to provide more substantial relief to businesses facing higher borrowing costs and fluctuating export demand.
India’s current account deficit may rise to 2% of GDP in FY27 if oil stays at $82–87: CRISIL
Rising oil prices could push India's current account deficit to a concerning two percent of GDP, as highlighted by a Crisil report. This prediction hinges on the volatile global market conditions we’re currently facing. While US tariff reductions may bolster exports to some extent, the ongoing unrest in West Asia is another pivotal aspect that could affect the situation.
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Kalyan Jewellers, Titan, and other jewellery stocks tumble up to 6% while MMTC rallies 16%. Here's why
Indian banks have reportedly halted gold and silver import orders, causing jewellery stocks like Kalyan Jewellers and Titan to fall. MMTC, however, surged on market rumors of being permitted to import gold. This situation has led to significant amounts of precious metals stuck at customs, awaiting a formal government order, potentially impacting supply ahead of Akshaya Tritiya.
Labour-intensive sectors see steep fall in exports in March
The fiscal year 2026 brought a mixed bag for India's exports. On one hand, engineering goods, electronics, and pharmaceuticals excelled, driving growth. On the flip side, textiles and gems were hampered by market fluctuations. Disruptions in West Asia's trade routes complicated logistics, affecting shipments significantly. Interestingly, electronics imports surged, crossing the $100 billion threshold.
Pharma exports fall to five-year low in March amid West Asia crisis
India's pharma exports saw a sharp 23.17% fall in March. The West Asia war disrupted shipping routes and air transit hubs. This led to increased freight costs and potential losses of ₹2,500-₹5,000 crore. Despite strong growth earlier in FY26, the conflict impacted crucial transit points like Dubai and Abu Dhabi. This affected the flow of vital medicines to global markets.
Akshaya Tritiya 2026 gold offers: Tanishq, Joyalukkas, Malabar Gold & Diamonds, Kalyan Jewellers, KISNA announce discounts and rate lock schemes
Akshaya Tritiya 2026: Jewellery brands are launching special offers for Akshaya Tritiya 2026. Customers can avail pre-booking schemes, cashback, and gold rate protection plans. These schemes allow buyers to lock in gold prices or benefit from lower rates.
India's trade gap shrinks in March, swells in FY26
India's trade deficit saw a reduction in March as the West Asia conflict disrupted trade flows. Exports and imports both declined, narrowing the monthly deficit. However, the overall trade deficit for the fiscal year widened. Despite challenges, India achieved record exports of $860 billion in FY26, showcasing resilience. Several free trade agreements are expected to boost future trade prospects.
Geopolitical tensions cripple India-Middle East trade in March
India's trade with the Middle East saw a significant drop in March. Exports and imports fell by over 50 percent. This decline resulted from disruptions caused by the US-Israel attack on Iran. The Strait of Hormuz, a vital shipping route, faced temporary closure. This impacted shipments of gems, jewellery, engineering goods, and rice.
India's FDI plan for ecommerce; Tata charges up iPhone biz
India is planning to allow FDI in inventory-based ecommerce exclusively for exports. This and more in today's ETtech Top 5.
India gem and jewellery exports rise to ₹2.44 lakh crore in FY26 amid global headwinds
In FY26, India's gem and jewellery sector reported an impressive ₹2,44,827.26 crore in exports, demonstrating a modest growth in rupee terms. However, exports in dollar value experienced a downturn amidst global market turbulence. To counter this, exporters expanded their reach, finding new opportunities in the UAE, Australia, and Canada.
For FDI, E-comm exports must be in separate cart
India is considering allowing FDI in inventory-based e-commerce exclusively for exports. This move aims to boost outbound shipments without affecting domestic retailers. Strict safeguards, including physical segregation of warehouses, are being evaluated to ensure export-bound goods are not sold locally.
India's gems, jewellery exports dip 35 per cent in March on US-Iran conflict: GJEPC
India's gems and jewellery exports saw a significant drop in March, largely due to the West Asia conflict impacting logistics and insurance costs. Despite this setback, the industry is exploring opportunities to become a rough diamond trading hub. While demand weakened in some key markets, other regions provided support. The council anticipates a recovery as geopolitical tensions ease.
West Asia war: Amid gloom and doom in Surat and Tiruppur’s textile clusters, one industry offers hope
As the West Asia conflict drags down most sectors in India’s two major textile hubs, one segment in Surat is opening up new opportunities
India-UK free trade pact may come into force from second week of May: Official
The India-UK free trade agreement is set to begin in the second week of May. This pact will allow 99 percent of Indian exports to enter Britain duty-free. Tariffs on British products like cars and whisky will also be reduced in India. A separate agreement will prevent double social levies for temporary workers. This aims to boost trade significantly.
Piyush Goyal holds talks with Saudi Arabia trade minister on stronger supply chains
India's Commerce Minister Piyush Goyal met with Saudi Arabia's Trade Minister Majid bin Abdullah Al Qassabi. They discussed strengthening supply chains affected by the West Asia crisis. Both ministers expressed optimism for early progress on the India-GCC Free Trade Agreement negotiations. The discussions also focused on ensuring smooth trade flows and recovering from disruptions.
Rice export rules relaxed for select European countries
India has eased rice export rules for many European nations. An inspection certificate from EIC/EIAs is now only required for exports to the EU, UK, Iceland, Liechtenstein, Norway, and Switzerland. Other European countries are exempt for six months. New rules also align feather and skin export policies with EU and UK regulations.
West Asia crisis: Piyush Goyal meets Kuwait, UAE to restore trade, energy flows
India's Commerce Minister Piyush Goyal met with leaders from Kuwait and the UAE. Discussions focused on restoring trade and energy supplies disrupted by recent events. India offered assistance to Kuwait for food security. Both sides emphasized dialogue and diplomacy. Efforts are underway to ensure smooth trade flows and continuity of essential supplies.
Crisil warns of potential hit to India remittances amid West Asia conflict
India's remittance flow faces potential impact from the West Asia conflict. A third of diaspora inflows originate from Gulf Cooperation Council countries. A reduction in diaspora incomes could affect India's current account deficit. This comes at a time when the trade deficit is already under pressure. India is the world's largest beneficiary of remittances.
West Asia crisis: Commerce ministry discusses shipping, port, packaging challenges with exporters
Indian commerce ministry met with exporters to tackle West Asia crisis impacts on packaging, shipping, and port operations. Discussions addressed rising material costs, supply chain disruptions, and potential solutions.
$116 bn at risk: Why a fragile West Asia ceasefire may not ease pressure on India’s engineering exports
India's engineering exports face significant strain from the West Asia conflict, with a recent ceasefire offering limited relief. Disruptions to sea routes and rising input costs, particularly for petrochemical derivatives and LPG, are eroding export volumes and impacting manufacturing processes. Industry stakeholders urge caution as the situation remains volatile.
Exporters' body FIEO sees 2-3 pc fall in goods exports during 2025-26
Indian merchandise exports are projected to decline by 2-3% in 2025-26. Global economic uncertainties, amplified by the West Asia crisis, are the primary drivers. This situation has already impacted shipments, increasing freight and raw material costs. While goods exports face a downturn, services exports are anticipated to grow. Exporters hope for stabilization following a ceasefire announcement.
US-Iran ceasefire, Hormuz reopening to ease shipping disruptions: FIEO
Exporters welcome the ceasefire between the US and Iran. The reopening of the Strait of Hormuz eases shipping disruptions and reduces costs. This brings immediate relief to Indian exporters trading with the Gulf region. However, exporters remain cautious due to the temporary nature of the truce. Sustained stability is crucial for restoring confidence and ensuring smooth trade flows.
Duty relief to SEZs allows limited domestic sales without diluting export focus: Experts
This move aims to support units facing weak global demand. Experts believe this offers a cushion for capacity utilisation and revenue. Sectors like electronics and textiles are expected to benefit.
Why fixing India’s export machinery is key to hitting the $2 trillion goal
India aims for $2 trillion in exports by 2030. Current growth is slow, and global market share is small. The country faces challenges in export geography and product diversity. A new strategy is proposed. It includes a unified trade facilitation agency, increased investment in trade fairs, and large sector-specific exhibitions.
Several measures announced to cushion exporters from Gulf conflict impact: DGFT
India is taking steps to help exporters facing challenges due to the Gulf conflict. Key sectors like gems, jewellery, rice, and pharma are affected. The government is working with insurers and banks on insurance and finance issues. Measures are being devised to resolve exporter problems.
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