Indian jewelers shift focus to Saudi Arabia amid US tariff
With the US hitting Indian gem and jewelry exports with a steep 50% tariff this year, Indian jewelers are turning to Saudi Arabia and West Asia for new opportunities.
Trade between India and Saudi Arabia topped $42 billion in FY25, and gems and jewelry exports to the kingdom jumped 45% to $151.5 million.
Studded gold jewelry exports alone surged by 55%, tapping into a Saudi market set to nearly double by 2030.
SAJEX 2025 in Jeddah this September
At SAJEX 2025 in Jeddah this September, over 200 exhibitors from both countries came together, backed by official support, to deepen industry ties.
The event spotlighted India's rising influence in global jewelry and set the stage for more collaboration.
India has an FTA with UAE
India already has an FTA with the UAE, is close to sealing one with Oman, and expects to finalize talks with Qatar in October, plus a new investment treaty with Saudi Arabia.
With European demand for sustainable pieces rising and West Asia loving artisanal designs, these moves could help make Saudi Arabia a key hub.