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Key Points

India's gem and jewellery sector is set for a remarkable transformation through the new Free Trade Agreement with the UK. The bilateral deal promises to eliminate tariff barriers and unlock significant export opportunities. GJEPC Chairman Kirit Bhansali predicts substantial economic benefits, including potential job creation and enhanced market access. This agreement marks a pivotal moment for India's global trade positioning and economic collaboration with the United Kingdom.

Key Points: India UK Trade Gem Exports to Double Under FTA Deal

  • Bilateral trade agreement to remove 99% tariffs on Indian exports
  • Gem exports projected to reach $2.5 billion in three years
  • FTA expected to create over 140,000 new jobs
  • Strengthens India's global leadership in diamond and jewellery sectors
2 min read

India's gem & jewellery exports to UK poised to double in 3 years: GJEPC

GJEPC Chairman reveals massive growth potential for India's gem and jewellery sector through landmark India-UK Free Trade Agreement

"This partnership will not only boost trade but also generate over 140,000 new jobs - Kirit Bhansali, GJEPC Chairman"

Mumbai, Oct 9

India's gem & jewellery exports to the UK are expected to more than double to $2.5 billion within three years following the India-UK Free Trade Agreement, Gem and Jewellery Export Promotion Council Chairman Kirit Bhansali said on Thursday.

Addressing the CEOs forum at the India-UK meet here, Bhansali said: "This partnership will not only boost trade but also generate over 140,000 new jobs, directly benefiting artisans, manufacturers, and exporters across all key segments."

He said the FTA marks a pivotal moment for the Indian gem and jewellery sector, unlocking immense growth opportunities and reinforcing its global leadership.

The FTA strengthens India's position as a world leader in diamonds, gold, silver, and lab-grown stones, while enabling deeper market access and collaboration with UK retailers. GJEPC is committed to leveraging this historic agreement to drive innovation, employment, and sustainable growth for the industry and the millions who depend on it, Bhansali added.

With tariff barriers easing and market access expanding, the UK offers significant potential for export growth, design collaboration, and technology-driven value addition. The CETA promises to strengthen this momentum and position India's gem and jewellery industry for an even more prominent role in shaping the future of India-UK trade relations, according to a GJEPC statement.

The two-day CEOs forum focused on how the CETA, signed in May this year, will reshape bilateral trade by removing tariffs on 99 per cent of Indian exports to the UK and 90 per cent of UK exports to India.

The forum was co-chaired by Bharti Enterprises founder and Chairman Sunil Bharti Mittal and Standard Chartered Group Chief Executive Bill Winters, with senior government officials, including Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Amardeep Singh Bhatia, who addressed participants at the opening session.

Meanwhile, the UK India Business Council (UKIBC) also hailed the successful conclusion of UK Prime Minister Keir Starmer's visit to India, which saw major new announcements, including 1.3 billion pounds in new Indian investments into the UK and agreements to expand British university campuses in India.

The UKIBC also highlighted other big announcements in the joint statement of the two Prime Ministers, which include the establishment of the India-UK Connectivity and Innovation Centre and the setting up of the India-UK Joint Centre for AI, along with enhanced cooperation on AI, clean energy, and advanced manufacturing, and new connectivity links between the two countries.

- IANS

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Reader Comments

R
Rohit P
Great to see India's manufacturing strength getting global recognition. Our diamond cutting and polishing industry is world-class. The FTA will help us compete better with other global players. Jai Hind! 💎
D
David E
As someone in the UK retail sector, this is exciting news. Indian craftsmanship in jewellery is exceptional, and with tariff barriers easing, British consumers will get better access to these beautiful products at competitive prices.
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Ananya R
While the export growth is impressive, I hope the government ensures fair wages and working conditions for the artisans. Sometimes in the excitement of numbers, the human element gets overlooked. The focus should be on sustainable growth.
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Sarah B
The AI and clean energy collaborations mentioned are equally important. While jewellery exports are significant, the broader India-UK partnership across technology and sustainability shows both countries are thinking long-term. Well done!
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Vikram M
Surat and Mumbai's jewellery hubs are going to benefit massively from this. The design collaboration with UK retailers will help Indian manufacturers understand global trends better. Make in India is working! ✨
K
Kavya N
Good to see lab-grown stones getting recognition alongside traditional diamonds and gold. This shows India is adapting to changing consumer preferences worldwide. The future looks bright for our jewellery industry! 🌟

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