Jewellery Exporters Targets Saudi Arabia Amid US Tariff Pressure

(MENAFN- KNN India) New Delhi, Sep 18 (KNN) India's gems and jewellery industry is increasingly turning its focus toward Saudi Arabia as it seeks to reduce reliance on the United States market, which has recently imposed steep 50 per cent tariffs on Indian jewellery exports.

These duties have prompted Indian exporters to explore alternative destinations to sustain growth.

To accelerate this shift, the Gem & Jewellery Export Promotion Council (GJEPC) organised the first-ever Saudi Arabia Jewellery Exposition (SAJEX 2025) in Jeddah from September 11 to 13.

The expo witnessed participation from over 200 Indian exhibitors and attracted around 2,000 buyers from Saudi Arabia and neighbouring countries, highlighting the strong business interest in this emerging market.

India currently exports gems and jewellery worth about USD 28.5 billion annually, with nearly one-third of these exports traditionally going to the U.S.

The recent tariff hikes have accelerated efforts to diversify export destinations, and Saudi Arabia has emerged as a promising growth market due to its rising demand and favourable demographics.

Saudi Arabia's jewellery market, currently valued at USD 4.5–4.6 billion, is projected to grow to USD 8.34 billion by 2030, driven by increasing disposable incomes, urbanisation, and a growing appetite for luxury and design-led jewellery.

Industry experts believe this creates a strategic opportunity for Indian manufacturers to build long-term trade partnerships in the region.

Officials from GJEPC expect SAJEX to open new trade channels, foster investment collaborations, and strengthen India-Saudi Arabia ties in the global gems and jewellery supply chain, reducing dependence on Western markets.

(KNN Bureau)

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