Union Budget 2026: Women Founders Share Budget Expectations

By: WE Staff

Bindu Sharma, Founder & Creative Director, Mavitrra: A bespoke diamond jewellery entrepreneur known for blending refined craftsmanship with individuality and personal expression.

As Budget 2026 approaches, the gems and jewellery sector is navigating a delicate moment -- high gold and diamond prices have dampened consumer demand while international trade challenges and tariff pressures persist. Domestic buyers are cautious, and export players are striving to remain competitive amid global headwinds.

The Budget must focus on predictability and relief that restores confidence rather than short-term incentives alone. Continued stability in indirect taxes, coupled with a rationalised GST structure on gold and precious metals, can make handcrafted jewellery more accessible to Indian families and improve the sector’s export potential.

There is a clear industry call for procedural reforms at customs and duty rationalisation on cut and polished diamonds that support both organised retail and artisan-led craftsmanship. Simplifying compliance and reducing costs will help smaller designers and workshops invest in skill development and design innovation, the true backbone of India’s jewellery identity.

Ultimately, jewellery purchases are deeply personal, tied to emotions, milestones, and cultural traditions. A Budget that emphasises consumer sentiment, supports domestic value addition, and strengthens India’s position in the global gem and jewellery market will allow brands like ours not just to survive, but to shine.