Today: 5 May 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 Reopens Doors to Lebanon

The prime minister expressed Lebanon’s “utmost gratitude and appreciation to the UAE” and President Sheikh Mohamed bin Zayed Al Nahyan….reports Asian Lite News Lebanon welcomed the decision by the United Arab Emirates

SYRIA RAIDS: Arab League Slams Israel

The Arab League condemned the airstrikes and called on the international community and the United Nations to confront what it described as “repeated violations committed by Israel against the Syrian state.” The

India Rises, Africa Watches 

While struggling economies in Africa engulf themselves in ideological battles and take sides in the tariff battles, nations like India are placing their national interest first and navigating Global Trade challenges in

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of
Go toTop

Don't Miss

‘Rainy Summer’ initiative launched at Dubai Parks

Products by Ferjan Dubai are being showcased at the events,

Over 60k subscribe for UAE’s job loss insurance scheme

The scheme aims to provide financial security to workers and