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CEPA completes 3 years; powering India-UAE trade and economic ties

Bilateral gem and jewellery trade surged from US$ 20.88 billion in FY2022 to US$ 28.15 billion in FY2024, reflecting a robust 35% increase

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The *Comprehensive Economic Partnership Agreement (CEPA)* between *India and the UAE*, formalised on 18th February 2022, has profoundly strengthened economic ties between the two nations. As we commemorate its third anniversary, it is evident that CEPA has significantly enhanced trade opportunities, particularly for India’s gem and jewellery industry.

Since CEPA’s implementation, trade between India and the UAE has witnessed remarkable growth. The bilateral gem and jewellery trade surged from US$ 20.88 billion in FY2022 to US$ 28.15 billion in FY2024, reflecting a robust 35% increase. India’s gem and jewellery exports to the UAE also soared by over 60%, from US$ 4.95 billion in FY2022 to US$ 8.04 billion in FY2024.

Notably, UAE’s share in India’s total exports rose from 13% in FY2022 to 25% in FY2024, overtaking Hong Kong as India’s second-largest export market. This underscores the transformative impact of CEPA on India’s trade dynamics.

One of the most significant benefits of CEPA has been the duty-free access for all gem and jewellery products, including gold, silver, and platinum jewellery, along with polished diamonds and gemstones.This development has motivated Indian exporters to increase their supply of various gem and jewellery items to the UAE, capitalising on the enhanced market access provided by the agreement.

This policy shift has led to substantial growth in key export categories:

Plain Gold Jewellery: Exports surged by 127.62%, reaching US$ 4,240 million in FY2024.

Studded Gold Jewellery: Increased by over 50%, from US$ 917 million in FY2022 to US$ 1,382 million in FY2024.

Worked Lab-Grown Diamonds: Witnessed a 58.16% growth, reaching US$ 172 million in FY2024.

Platinum Jewellery: Recorded a staggering 820.87% increase, reaching US$ 23 million.

Coloured Gemstones: Grew by 17.19% to US$ 9.34 million

*Kirit Bhansali*, Chairman, GJEPC, said, “The India-UAE CEPA has propelled our gem and jewellery exports to new heights, growing by over 60% from US$ 4.95 billion in FY2022 to US$ 8.04 billion in FY2024. The UAE now accounts for nearly a quarter of India’s total gem and jewellery exports, surpassing Hong Kong. The duty-free advantage has unlocked immense opportunities, particularly in plain gold jewellery, which saw a 127% surge. As we celebrate three years of CEPA, we remain committed to strengthening this vital partnership and exploring new avenues for growth.”

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Harit Zaveri Jewellers Presents Its Signature Heritage Collection – Saanjh, Bringing Together Timeless Craftsmanship, Uncompromising Quality and Exceptional Value

Some Jewels Don’t Just Complete A Look, They Become A Part Of Your Story

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The conversation while getting ready. A mother fastening the clasp of a necklace. Friends adjusting bangles and their hair between photographs. The pause before stepping into the mandap. The laughter that wasn’t planned, all a part of your story to celebrate the joyful moments of life. 

Keeping this in mind, Harit Zaveri Jewellers unveil their latest bridal collection – Saanjh. This collection reflects that shift. It embraces weddings as they are today: intimate, layered and deeply personal. 

This collection draws from India’s traditions while reflecting the way today’s brides approach weddings: with intention, individuality and a desire to wear pieces that resonate with their character and story

Crafted in 22 KT gold, the collection features bridal necklaces layered with uncut polki and kundan work, statement chokers, temple-inspired jhumkas, engraved bangles, sculptural cuffs, cocktail rings and intricate detailing enriched with emerald-green enamel, ruby accents and motifs. Every detail has a purpose. Handcrafted gold work, floral engravings, enamel accents come together in pieces that honour heritage without feeling bound by it.

It moves effortlessly across celebrations, from pre-wedding rituals to the wedding ceremony and beyond, while carrying the craftsmanship and cultural language that has always defined Harit Zaveri Jewellers.

Harit Zaveri Jewellers continue their commitment to preserving traditional artistry while creating bridal jewellery for a new generation. Designed with versatility in mind, the collections feature necklaces, earrings, bangles, rings and statement pieces that seamlessly complement weddings, festive occasions and everyday celebrations. 

Every piece is meticulously handcrafted using refined techniques and carefully selected materials, ensuring superior quality, durability and lasting beauty. Rooted in India’s rich jewellery-making traditions, the collections are created for today’s discerning customers who value authenticity, fine craftsmanship and jewellery that becomes part of life’s most cherished moments. 

Harit Zaveri, Joint Managing Director at Harit Zaveri Jewellers shared:

“At Harit Zaveri Jewellers, we have always believed bridal jewellery should feel personal, something that reflects a bride’s story and individuality. Many of our clients naturally gravitate towards one-of-a-kind pieces that resonate with their personality and become part of their memories for years to come. With this Polki collection, we wanted to celebrate craftsmanship with the richness of emeralds, a stone that beautifully complements a variety of bridal colours and effortlessly completes a look.

“Above all, quality remains at the heart of everything we create because we believe jewellery should feel as enduring as the memories and moments attached to it.”

Harit Zaveri Jewellers remains committed to offering the right craftsmanship, the right quality and the right price, making beautifully crafted jewellery accessible without compromising on excellence or trust. 

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