India Gem & Jewellery Industry Backs PM Modi Appeal Amid Global Challenges

Surat | Gujarat — In a strong show of solidarity, India’s gem and jewellery industry has extended full support to Prime Minister Narendra Modi’s appeal in light of the prevailing global economic situation and national interest priorities.

Acknowledging the significance of the message, industry stakeholders stated that they “fully understand the reason and respect the appeal made by the Prime Minister,” adding that the sector stands firmly with the nation during challenging times.

“We are responsible stakeholders in India’s growth story and will act in the larger national interest while ensuring stability in the sector,” an industry representative said.

The gem and jewellery sector, one of the largest contributors to India’s export economy, plays a critical role in employment generation. It supports nearly 5 million workers, including artisans, craftsmen, designers, and small business owners across the country.

Industry leaders emphasised that resilience has always been a defining trait of the sector. “Whether it was the Gold Control Act, the 80:20 rule, or other regulatory phases, the industry has consistently adapted, evolved, and emerged stronger,” another spokesperson noted.

With annual exports valued at approximately USD 28 billion and a domestic market size of around USD 85 billion, the sector remains a vital pillar of India’s economic framework.

At present, consultations are underway with key stakeholders to develop balanced and practical solutions that align with both industry sustainability and national priorities. Officials confirmed that collaborative discussions will continue in the coming weeks to ensure a smooth transition and minimal disruption to livelihoods.

“We are committed to working together to find a responsible way forward while safeguarding employment and maintaining India’s global competitiveness,” the industry statement added.