The inaugural Saudi Arabia Jewellery Exposition (SAJEX) organised by GJEPC at the Jeddah Superdome marked more than just another trade show—it represented a watershed moment in India-Saudi relations and the birth of what promises to become a landmark event for the global gems and jewellery industry.
From 11th to 13th September 2025, over 100 exhibitors across 200 booths showcased the finest in jewellery craftsmanship, while more than 1,500 unique international trade buyers explored opportunities in a market set to nearly double to US$8.34 billion by 2030.
The timing couldn’t have been better. With India-Saudi total bilateral trade touching US$42 billion in FY 2024-25, and India’s gem and jewellery exports to the Kingdom rising 45% to US$151.5 million, SAJEX arrived as both a celebration of existing ties and a catalyst for future growth. The 55% jump to $129.31 million in studded gold jewellery exports alone signals the appetite Saudi consumers have for Indian craftsmanship.
What made SAJEX truly special wasn’t just the numbers—it was the spirit of collaboration that permeated every conversation, every handshake, and every business card exchanged. As Her Royal Highness Princess Nourah Al-Faisal – Designer, Entrepreneur, and Industry Leader, noted, “I’m especially delighted to be with our partners from India, who have stood by me in business for over 30 years—we are truly fortunate to have you. It makes perfect sense to build an ecosystem closer to home that fosters creativity and collaboration. Our youth are incredibly talented, dedicated, and full of potential, but they need the right support—educational, industrial, and more—to unlock it. India’s deep expertise and experience in this industry make it the ideal partner to help us build that infrastructure. Together, we can create new opportunities, open pathways, and empower a new generation of designers to achieve their dreams.”
The exhibition floor buzzed with conversations that revealed fascinating insights about Saudi Arabia’s evolving jewellery landscape. Abhishek Sand, Co-founder, Savio Jewellery, Jaipur captured the market dynamics perfectly: “In Saudi Arabia, the ratio of sellers to buyers is very low—each retailer works with only two or three suppliers. If India establishes the right agreement, like the CEPA with UAE, Saudi could become the biggest export market for India.”
This scarcity of suppliers creates a unique opportunity. While gold dominates about 80% of the Saudi jewellery market, Sand pointed out that “the remaining 20% of studded jewellery is still a huge opportunity. Currently, much of this is routed through Dubai. If India can supply directly under an FTA, with the quality we provide, Saudi buyers will be very happy, and demand will grow even more.”
The sentiment was echoed by Raghavan Ramaswamy from Oro Precious Metals, who found that “buyers here are particularly interested in lightweight plain gold pieces.” For Shikha Kothari of Kosha Fine Jewels, the response was encouraging: “This market is growing and we’re offering trendy jewellery which people here are seeking. It’s a great market, extremely booming, with a lot of scope for growth, especially for Indian jewellery manufacturers.”
Exhibitors from neighbouring GCC markets also weighed in. Mr. Arzo of Arzo Jewellery, Bahrain, said, “The Saudi market holds strong potential, given its size and population strength. We came here because we believe in this growth and in the trust Saudi consumers already place in Bahraini jewellery.” While 21-karat and 22-karat gold jewellery remains dominant, he acknowledged growing interest in diamonds and gemstones. The main challenges, he noted, were taxation and logistics: “With VAT at 15% and a 5% duty, it’s not easy to increase business. But with collaboration between governments, this can improve. Our short-term strategy is to focus on exports, but in the mid-term, we plan to establish manufacturing in Saudi itself to overcome these hurdles.”
Jeddah-based jeweller Mohamed Said Bin Waber from Masag Gold & Jewelry observed this shift firsthand: “In Saudi Arabia, gold remains the most popular choice, but demand is also growing for diamonds and coloured gemstones. Younger consumers are drawn to new designs, while pilgrims and tourists continue to shape the market.”
The market spans all socio-economic segments, from mass-market collections to top-end luxury, requiring tailored approaches for each demographic. This diversity creates opportunities for Indian manufacturers across the entire spectrum of jewellery offerings.
Building Trust in a New Market
One of the most significant themes throughout SAJEX was the emphasis on trust-building. As exhibitor Adil Kotwal, Managing Director, Creations Gems & Jewellery noted, “Saudi buyers are impressed by the quality of our diamond jewellery, and while they have traditionally sourced from a handful of suppliers, SAJEX has provided excellent exposure to India’s world-class capabilities.”
The challenge isn’t just about product quality—it’s about understanding local preferences and building relationships. Visitor Ahmed Alammari, CEO, Dewan Aldahab Jewellery, welcomed the mix of “manufacturers and wholesalers from Dubai and India” who met a real demand, noting that such events are rare here. Visitors, including myself, are enjoying the experience and making purchases — a clear sign of its success.”
Adding a broader retail perspective, another visitor Ehab Al Khuffash, Country Manager – KSA, Damas, added: “SAJEX in Jeddah is a fantastic opportunity for the jewellery industry and retailers in Saudi Arabia. For the first time, the show brings together a wide range of exhibitors from around the world, including Dubai. We wish everyone a highly successful exhibition.”
However, challenges remain. The high customs duties and VAT on direct deals mean most business flows via Dubai, which only incurs a 5% levy. As Adil Kotwal pointed out, “Building connections here will take time, especially with the cumulative 20% customs duty plus VAT on direct deals.”
Despite these challenges, the regulatory environment is evolving rapidly. Both governments are committed to resolving licensing and regulatory issues through structured engagement, with optimism running high as Saudi achievements under Vision 2030 are ahead of schedule.
The exhibition showcased how technology is reshaping the jewellery landscape in Saudi Arabia. From advanced manufacturing solutions to omnichannel retail strategies, technology emerged as a vital component for success in the Saudi market. Young Saudi consumers expect seamless integration between online research and in-store purchasing experiences.
A Market in Transformation
The success of SAJEX 2025 has set high expectations for future editions. Visitor Mohamed Said Bin Waber expressed the collective sentiment: “By 2026, we look forward to an even bigger show with more exhibitors and participants.” The exhibition demonstrated that Saudi Arabia wants partnerships beyond simple B2B trade—in design, manufacturing, and retail.
For many exhibitors, the potential felt both vast and promising. Sanjay Jain, Founder, Manoj Ornaments described it perfectly: “Saudi Arabia has its own unique culture and tremendous potential. Participating in SAJEX feels like standing at the edge of an ocean—you know the depth is there, but you must dive in to fully understand it. This is just the beginning, and while challenges exist, we are already seeing serious enquiries and interest. With consistency and preparation beyond just attending shows, the Saudi market can open up vast opportunities for Indian jewellers.”
This sentiment of long-term potential was shared by Nikhil Parekh, Director, Hasmukh Parekh Jewellers, who sees the Kingdom’s trajectory clearly: “Saudi Arabia is progressing rapidly, and by 2030–35 it could well compete with established jewellery hubs like Dubai and Doha. For us, Kolkata-made jewellery has a definite place in this growing market.” His confidence stems from exploring “collaborations with leading wholesalers to establish a strong footprint in the Kingdom.”
CA Pawan Kumar, Owner, Suntech Business Solutions captured the urgency perfectly: “The Saudi market is growing rapidly, which is why we are opening offices in Riyadh and Jeddah and have already recruited our teams. For anyone looking to grow in the GCC region, being part of the Saudi market is essential—if you’re not here, you risk missing the train of growth.”
Joint manufacturing ventures represent a major opportunity, with Saudi positioned as both a consumer and a potential production hub for the broader GCC and MENA regions. The Kingdom’s strategic location, combined with its Vision 2030 initiatives, makes it an attractive base for companies looking to serve the broader Middle Eastern market.
The Road Forward
SAJEX 2025 proved that when vision meets opportunity, extraordinary things happen. The exhibition succeeded not just in showcasing beautiful jewellery, but in creating a platform for meaningful partnerships that respect cultural nuances while embracing innovation.
As Kirit Bhansali, Chairman, GJEPC, noted, “SAJEX represents a significant step towards deepening India-Saudi collaboration, creating new opportunities for trade, innovation, and industry leadership.” The success of this inaugural edition has laid the foundation for what promises to be a transformative partnership between two nations with complementary strengths and shared aspirations.
For Indian jewellery manufacturers, SAJEX has opened a door to one of the world’s most promising markets. For Saudi Arabia, it has provided access to India’s unmatched expertise in gems and jewellery. Together, they’re writing a new chapter in the global jewellery story—one that promises to benefit both nations and the industry as a whole.
The question now isn’t whether to engage with the Saudi market, but how quickly and effectively companies can establish their presence in this rapidly evolving landscape. As the market continues its journey toward the projected US$8.34 billion by 2030, those who move decisively today will be best positioned to benefit from tomorrow’s opportunities.
Panel Discussions: Charting the Future Together
Moderated by Manisha Gupta, Editor, Commodities & Currencies, CNBC TV 18, the three panel discussions at the Global Jewellery Investment Forum added depth to these market observations.
The first, “Investment Prospects for the Gem & Jewellery Industry: Facilitating Seamless Trade by India & the Kingdom of Saudi Arabia with the World”, highlighted Saudi Arabia’s vast reserves of gold, silver, platinum, and gemstones, alongside India’s strengths in cutting, polishing, and training. Panellists stressed that Vision 2030 and India@2047 are natural complements, and that building smoother trade channels is key to unlocking Saudi Arabia’s role as a global hub.
The second, “Retail & Manufacturing: Co-creating the Future of Jewellery for the GCC Consumer”, examined how Vision 2030 and women’s empowerment are reshaping jewellery demand. Cultural preferences for 21/22-karat gold and bold designs remain strong, but younger Saudis are increasingly drawn to diamonds and branded jewellery. The discussion emphasised that joint manufacturing ventures, omnichannel retail, and partnerships beyond simple B2B trade will be critical to reaching the projected US$8-10 billion market by 2030.
The third, “Labs & Associations: Harmonising the Market”, focused on the importance of trust and certification in an evolving ecosystem. Experts pointed to blockchain, grading consistency, and consumer education as essential to building credibility. With millions of tourists buying jewellery in Saudi Arabia and carrying it abroad, panellists agreed that harmonised standards and stronger collaboration between labs, government, and associations are vital for positioning the Kingdom as a trusted global jewellery hub.