K Srinivasan, Convener – Gold Jewellery Panel, GJEPC, identified the lack of adequate Ease of Doing Business (EoDB) measures as a key factor eroding the competitiveness of India’s gold and jewellery exports at the CII Gems & Jewellery Conference in New Delhi on 30 September.
Speaking during a panel discussion on “India’s Next Export Opportunity: From Market Access to Global Market Leadership”, Srinivasan said India has significant potential to become a leading global hub for gems and jewellery. However, exporters continue to face procedural complexities, regulatory delays, high transaction costs and multiple compliance requirements across the value chain.
“These factors directly affect the speed, cost and flexibility with which Indian businesses can respond to global demand,” Srinivasan said.
He noted that the global competitive landscape is becoming more challenging, with China strengthening its position in international markets and expanding its exports, while opportunities continue to emerge across global jewellery markets.
Srinivasan said the fundamental challenge is that global supply is becoming increasingly competitive while demand is not growing at the same pace. In such an environment, countries that can offer faster processes, lower costs, greater predictability and stronger trade facilitation will be better positioned to gain market share.