The Indian jewellery sector is renowned for diversified range of products and its finest craftsmanship. It has witnessed a remarkable growth in terms of gems & jewellery exports over the years. It is the fastest growing industry in terms of forex earnings and employment generation. This sector is boosting more in India due to “Make in India” initiative as manufacturing of gold and diamonds is done at a cheaper rate in India than the rest of the world and therefore, gaining competitive advantage due to more availability of skilled and cheap labour. India performs exceptionally great in the international market, with an envious 20.6% share in exports of diamonds in 2020. This sector contributes around 7.5% to GDP (Gross Domestic Product) and 14% to India’s total merchandise export. This sector ranks in the top ten countries globally, which is a testament to the importance and immense potential of this sector. Therefore, this paper is an attempt to study the impact of pandemic on gems and jewellery sector in India and to highlight the efforts made by regulatory authorities to improve the performance of this sector. In this paper, the researcher has witnessed decline in export performance of the gems and jewellery sector from April 2019 to February 2020 and further highlighted the contribution made by various regulatory authorities like GJEPC, Indian Government to provide relief to improve the performance of this prominent sector of Indian economy.