Today: 1 June 2025
9 January 2023
1 min read

India’s gem, jewellery exports see growth after CEPA with UAE

India’s current fiscal year ends on 31st March, making this the last quarter. The India International Jewellery Show and the India Gem and Jewellery Machinery Expo are ongoing in Mumbai now…reports Asian Lite News

The UAE-India Comprehensive Economic Partnership Agreement (CEPA) helped achieve an increase in India’s gem and jewellery exports in this financial year by 8.26 percent, according to Vipul Shah, Chairman of the Gem and Jewellery Export Promotion Council (GJEPC) in India.

“The Ministry of Commerce and Industry in New Delhi operationalised the CEPA with the UAE in May 2022. The last quarter of the fiscal year is very crucial as it demands strong growth to achieve this year’s target of $45.7 billion,” Shah said at the inauguration of India’s first design-centric jewellery show of the calendar year 2023.

India’s current fiscal year ends on 31st March, making this the last quarter. The India International Jewellery Show and the India Gem and Jewellery Machinery Expo are ongoing in Mumbai now.

Shah said, “This year, the show has become bigger, better and greener than ever before. India’s overall gem and jewellery exports this fiscal year saw a growth of 8.26 percent compared to last year.”

He added that in addition to the UAE-India CEPA, a Free Trade Agreement (FTA) with Australia has been operationalised, noting that “Two more FTAs are expected this year.”

Business delegations from the UAE, Bahrain and Saudi Arabia are attending the twin events in Mumbai. The Gem and Jewellery Export Promotion Council, set up by India’s Department of Commerce, said this is the first time a Saudi Arabian delegation is attending a GJEPC exhibition. The Saudi delegation has 18 prime buyers.

India’s Minister of State for Commerce and Industry, Anupriya Patel, said at the event that the Ministry “has taken several steps such as the implementation of the simplified regulatory framework for gems and jewellery exports through e-commerce, reduction of duties for imports of diamonds, a new gold monetisation policy and hallmarking norms. The government is committed to the promotion of exports.”

ALSO READ: UAE Gears up for DP World ILT20

Previous Story

OIC Calls For Emergency Meet to Discuss Al Aqsa

Next Story

Sharjah Ruler inspects Mleiha wheat farm

Latest from -Top News

UAE aid for Gaza in global focus

Titled Hope Remains, the documentary brings to light the UAE’s leading role in providing vital aid and support to the people of Gaza. The International Humanitarian and Philanthropic Council has released a

Syria, Israel begin quiet talks

The announcement came just hours after Israeli warplanes reportedly carried out new airstrikes in Syria’s coastal provinces of Tartus and Latakia, hitting a range of military targets. Syria has confirmed the commencement

Gaza truce deal hits new snag

US says Hamas’ reply to the ceasefire plan was “totally unacceptable” and accused the Palestinian group of dragging the negotiations backward. The latest attempt to broker a ceasefire in Gaza has hit

IAEA flags Iran enrichment spike

The International Atomic Energy Agency (IAEA), in two separate but related reports, said Iran has boosted its uranium stockpile enriched up to 60% purity by nearly 50% since February. Iran has vehemently

World needs Dubai’s ambition: Morgan

Piers Morgan has hailed Dubai’s transformation as an example of what visionary leadership can achieve. British broadcaster Piers Morgan has praised the extraordinary ambition and vision of His Highness Sheikh Mohammed bin
Go toTop

Don't Miss

UAE outlines pathway for practical, viable energy transition 

Al Jaber joined world leaders, ministers, and experts at the

Abu Dhabi Police receive 38K emergency calls during Eid break

Brigadier Nasser Al Maskari, Head of Central Operations, said the