A delegation from the Gem & Jewellery Export Promotion Council (GJEPC) met Union Finance Minister Nirmala Sitharaman in New Delhi on 27th March 2026 to deliberate on key industry concerns. The delegation was led by Kirit Bhansali and included Shaunak Parikh, Sabyasachi Ray, and K. K. Duggal.
A major highlight of the discussion was the expansion of Special Notified Zones (SNZs), along with leveraging the ongoing Gulf crisis to position India as a preferred hub for diamond and gold trading—potentially redirecting business from established centres like Dubai and Antwerp. The delegation also suggested allowing the temporary relocation of jewellery and diamond inventories to India through Customs Bonded Warehouses.
The meeting further addressed the broader impact of global trade disruptions, challenges faced by exporters, and the need for policy support to strengthen competitiveness, improve ease of doing business, and drive investment and infrastructure growth within the sector.