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.