India is the largest exporter of cut and polished diamonds with every 14 of the 15 diamonds globally getting cut and polished here.
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Stung by the U.S. tariffs on Indian diamond and jewellery exports, the country’s exporters are now looking to set their foot in the untapped West Asia market. As a first step, a dedicated B2B jewellery show, the first of its kind, is to be held at Jeddah Superdome from September 11-13.
More than 100 exhibitors are set to participate across 200 booths. SAJEX 2025 (The Saudi Arabia Jewellery Exposition) will have more than 2,000 buyers from Saudi Arabia, UAE, Hong Kong and Lebanon. Indian diamond and jewellery exporters will showcase diamond and coloured gemstone jewellery; 18karat, 21karat, and 22karat plain gold jewellery; platinum jewellery; lab-grown diamond jewellery, bridal and gifting collections; jewellery technology.
“SAJEX marks a strategic step forward in our mission to strengthen India–Saudi ties in the gem and jewellery sector. Saudi Arabia’s jewellery market is projected to grow from $4.56 billion in 2024 to $8.34 billion by 2030, driven by a young, high-spending demographic and a growing appetite for both traditional and modern designs. Our goal is to build on this momentum and collaborate closely with Saudi partners to position the Kingdom as a future hub for jewellery trade in the region and beyond. This is not just an exhibition — it’s the beginning of a long-term partnership built on trust, opportunity, and shared growth,” said Kirit Bhansali, chairperson of Gem and Jewellery Export Promotion Council.
India is the largest exporter of cut and polished diamonds with every 14 of the 15 diamonds globally getting cut and polished here. Till the U.S. suddenly imposed heavy tariffs on India’s diamond and jewellery exporters, the country was the single largest importer of Indian diamonds.
”Due to the U.S. tariffs, our industry is worried about its fate. 30% of my export basket is to the U.S. alone, and that has dried up after the tariffs. 70% jewellery manufactured in Andheri SEEPZ SEZ alone goes to the USA. We need to find newer markets. It will take some time. But we are seeing some good results in U.K., UAE due to the Free Trade Agreements. We are extremely interested in Saudi Arabia as their per capita income is huge. The new rulers are business-friendly. I had a couple of meetings with them,” Mr. Bhansali told The Hindu.
“India’s diamond industry has always turned challenges into opportunities. We value our skilled artisans greatly. While we hope that good sense prevails and that the U.S. reverses its tariffs, we will also keep looking at newer markets – may it be domestic or international. We are number one in diamond export and we will work our way out of the challenges,” Dinesh Lakhani, Group Director of Kiran diamonds, the world’s largest exporter of cut and polished diamonds, told The Hindu.
But the path is not easy for the jewellery manufacturers. “The jewellery sector is different. It caters to a particular taste and sensibility. What we have been designing for the U.S. for years now, can’t be sold in the Saudi market. Someone else has already been catering to their jewellery requirements. So establishing yourself, building new relations and understanding their design aesthetics won’t be an overnight process,” said Adil Kotwal, CEO, Creations Gems & Jewellery Pvt. Ltd.
Published – September 09, 2025 08:03 pm IST
