Jewellery exports surge after India, UAE sign economic pact

More than 350 buyers from 25 countries gathered in Dubai for the Indian Gem and Jewellery Export Promotion Council (GJEPC).

Held from November 8 to 10, the show is supported by agencies such as the Ministry of Commerce of India and aims to boost exports of Indian jewellery businesses, expand the international retail network of jewellers, and take advantage of the Comprehensive Economic Partnership Agreement (CEPA) by the Government of India and the government of the United Arab Emirates (UAE), which was formed earlier this year.

“I am delighted to learn that a large number of top Indian manufacturers are presenting Indian-made gems and jewellery products to an influx of global buyers,” said Sunjay Sudhir, Indian Ambassador to the UAE. “This reflects the recent signing of the India-UAE CEPA’s spirit, and the importance of Dubai’s durability as an important business platform and exhibition.”

The GJEPC report said the UAE has been a key market for Indian gems and jewellery exports, accounting for 14% of total exports in this category in 2021-22.

“After India-UAE CEPA, India’s overall gem and jewellery exports to the UAE increased by 12.36% to US$2.9 billion during the period [of] Compared to the previous year, April-September 2022,” said Council Chairman Vipul Shah. “IGJS is an important platform for building trade relations and taking advantage of the trade opportunities offered by CEPA. ”

“We welcome every jewellery maker in the world to come and present their jewellery and sell it to a global audience,” added Chandu Siroya, Deputy Chairman of Dubai Gold & Jewellery Group. “Dubai is the world’s jewellery destination as we have over 195 nationalities living in the UAE. The jewellers here have adapted well and we cater to every taste in the world. India plays a role in delivering jewellery to the UAE important role.”