The Gem & Jewellery Export Promotion Council highlighted India's leading role in lab-grown diamond exports, emphasizing the growing market share of lab-grown diamonds as a sustainable and ethical alternative to mined diamonds. This positions the industry for economic growth while addressing ethical and environmental concerns.

GJEPC expressed concerns over a 27% U.S. reciprocal tariff imposed on Indian gem and jewellery exports, warning of disruptions in trade flows and increased burdens on exporters. The Council is urging both the Indian and U.S. governments to negotiate a bilateral trade agreement to mitigate the tariff's negative impact.

On April 3, 2025, GJEPC leadership detailed the implications of proposed U.S. Trump tariff hikes on the Indian gem and jewellery sector. The organization called on the Indian government to implement support measures such as special short-term relief, simplified financing, and pursuit of new trade agreements to counteract the adverse effects of these tariffs.

GJEPC has submitted detailed recommendations to the Indian Government urging policy interventions such as establishing Safe Harbour rules for rough diamond sales, reducing import duties on cut & polished diamonds and precious metals, and extending the MOOWR framework. These proposals aim to boost export competitiveness, safeguard employment for 4.3 million workers, and level the playing field for MSMEs in the gem and jewellery sector.

The Gem & Jewellery Export Promotion Council (GJEPC) has submitted several recommendations to the Indian Government ahead of the Union Budget 2024-25. The proposals include introducing a Safe Harbour Rule for rough diamond sales, reducing import duties on cut & polished diamonds, extending MOOWR benefits, and lowering duties on precious metals, all aimed at bolstering competitiveness, supporting MSMEs, and safeguarding employment in a sector that sustains millions of jobs.

Shri Vipul Shah, Chairman of GJEPC, publicly praised the Union Budget 2023-24 for its pro-reform and export growth-oriented measures. The reaction highlighted policy moves such as reduced customs duty on lab-grown diamond seeds, increased support for MSMEs, and tax benefits aimed at improving worker conditions. At the same time, the endorsement raises concerns over corporate complicity with an administration increasingly viewed as authoritarian.