India’s Gem and Jewellery Sector Strengthens Ties with Thailand Through Multiple MoUs

India’s gem and jewellery sector has taken a significant step towards strengthening its trade relationship with Thailand by signing multiple memorandums of understanding (MoUs). These agreements aim to enhance cooperation, streamline gemstone standardisation, and foster innovation in jewellery design and production.

Thailand remains a key trading partner for India in the gem and jewellery industry. Indian exports account for 15% of Thailand’s total gem and jewellery imports, making it one of the top ten importers of Indian jewellery products. Despite this strong trade relationship, India’s gross exports in the sector stood at ₹2,02,640 crore (US$ 23,188 million) in the first 10 months of FY25, reflecting a 12.11% decline compared to the previous year.

Key MoUs Signed to Boost Industry Collaboration

Three key agreements were signed between Indian and Thai jewellery trade associations:

1. Standardising Gemstone Quality and Research

The Gems and Jewellery Research and Laboratories Centre (IIGJ-RLC) signed an MoU with the Gem & Jewellery Institute of Thailand (GIT), a public body under Thailand’s Ministry of Commerce. This partnership aims to promote gemstone standardisation, joint research initiatives, and knowledge exchange, ensuring greater transparency and trust in the industry.

Chairman of IIGJ Jaipur and Director of IIGJ-RLC, Mr. Nawal Agarwal, emphasised that the agreement would enhance gemstone certification processes, benefiting both traders and consumers.

2. Strengthening the Coloured Gemstone Trade

The Jewellers Association Jaipur entered into an MoU with the Chanthaburi Gem and Jewellery Traders Association, focusing on boosting the coloured gemstone trade between India and Thailand.

According to Mr. Alok Sonkhia, President of the Jewellers Association Jaipur, the agreement will facilitate better trade policies and strengthen business relations between coloured gemstone traders in both countries.

3. Advancing Silver Jewellery Design and Market Reach

A third MoU was finalised between the Sitapura Gems and Jewellery Industry Association (SGJIA) and the Thai Silver Exporters Association (TSEA). This agreement seeks to drive innovation, design excellence, and market expansion in silver jewellery.

Mr. Arvind Gupta, President of SGJIA, noted that this collaboration would help improve design standards, encourage new product development, and increase global competitiveness in silver jewellery exports.

Conclusion: A Step Forward for the Jewellery Industry

These MoUs mark a significant milestone in India-Thailand jewellery trade relations, ensuring better standardisation, stronger collaborations, and enhanced market access. By focusing on knowledge sharing, research, and design innovation, the agreements are expected to create new growth opportunities for both countries in the global jewellery market.

As the industry navigates evolving global trends, such partnerships will be instrumental in driving sustainable growth and strengthening India’s position in the international gem and jewellery trade.

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