Story Highlight
– GJEPC inaugurated Saudi Arabia Jewellery Exhibition (SAJEX) 2025.
– Event strengthens India-Saudi trade relations in jewellery sector.
– Exhibition hosts over 200 exhibitors in Jeddah Superdome.
– Saudi jewellery market projected to reach $8.3 billion by 2030.
– Both nations aim for robust bilateral economic partnership.
Full Story
The Gem & Jewellery Export Promotion Council (GJEPC) launched the Saudi Arabia Jewellery Exhibition (SAJEX) 2025 in Jeddah on Thursday, signalling a key advance in enhancing trade ties between India and Saudi Arabia. The event, which will run from September 11 to 13 at the Jeddah Superdome, features over 200 exhibitors at 250 booths.
SAJEX 2025 is designed to merge Indian craftsmanship with the burgeoning jewellery market of Saudi Arabia, which is forecasted to expand to $8.3 billion by 2030. The exhibition congregates both Indian and international jewellers to respond to the escalating demand within the Kingdom.
According to GJEPC, gems and jewellery currently account for approximately $890 million of the $52.8 billion trade volume between India and Saudi Arabia for the fiscal year 2025. Krith Bhansali, Chairman of GJEPC, remarked on the synergy between the two nations, stating, “Saudi Arabia is a natural partner for India’s jewellery industry. The Kingdom’s $4.5-billion jewellery market is projected to grow to $8.3 billion by 2030, fuelled by strong GDP growth of $1.1 trillion, high per capita jewellery consumption of $320 annually, and a young, fashion-forward consumer base.”
He highlighted India’s considerable presence in the gem and jewellery sector, valued at $165 billion, which includes an $85-billion retail segment, $30 billion in exports, and $50 billion in bullion. “No other country matches the diversity of our ecosystem—from diamonds and gold to silver, coloured gemstones and lab-grown diamonds. If it can’t be made anywhere, it can be made in India,” he added.
India’s Ambassador to Saudi Arabia, Suhel Ajaz Khan, expressed that the changing global landscape makes SAJEX a pivotal opportunity for enhancing economic collaboration between the two nations. He noted that Saudi Arabia accounts for around 50% of the Gulf’s jewellery consumption, while India is a leading exporter globally. “Currently, India’s share in Saudi’s gems and jewellery market is modest, indicating significant growth potential. Also, Jeddah is a hub for gems and jewellery in the Gulf region. So, there is a prospect of a strong bilateral economic partnership between the two nations,” he remarked.
Focusing on the impact of increasing unilateral tariffs, he emphasized the necessity of leveraging the complementary strengths of both countries in sectors such as gems and jewellery, which can lead to substantial trade growth.
Supporting these views, Siddharth Mahajan, Joint Secretary at the Ministry of Commerce & Industry, noted India’s unparalleled scale, quality, and innovation in the gems and jewellery sector. He highlighted India’s status as the largest exporter of cut and polished diamonds, the second-largest exporter of silver jewellery, and leading position in gold jewellery exports. Together, he asserted, India and Saudi Arabia can forge a new chapter in bilateral trade, cultural exchange, and global brand presence.
Khalid A. Al-Sheddi from Saudi Arabia’s Ministry of Investment remarked on the rapid growth of the Kingdom’s market, stating that it presents exceptional potentials for collaboration with India’s expertise in the gems and jewellery sector.
The exhibition will feature a diverse array of jewellery, including diamond and coloured gemstone pieces, 18K-22K gold items, platinum products, and lab-grown diamonds, along with a World Jewellery Investment Forum co-hosted with the Saudi Ministry of Investment.
Exhibitors believe that SAJEX will provide a valuable platform for building partnerships, exchanging expertise, and exploring collaborative opportunities. Notable Indian manufacturers participating include Hasmukh Parekh Jewellers, Modern Impex, ZAR Jewels Pvt. Ltd, JKS Jewels Pvt. Ltd, Sky Gold & Diamonds Limited, and Senco Gold Limited, alongside firms from the UAE, Turkey, Hong Kong, and Lebanon. The exhibition is anticipated to attract over 2,000 business visitors, including 400 leading jewellers.
Key attendees at the opening included Fahad Al Jubairy, Assistant Deputy Minister for Industrial Investment; Princess Nourah Al-Faisal, a prominent designer; and Fahad Ahmed Khan Suri, Consul General of India in Jeddah.