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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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National News

GJC Announces 15th Edition Of National Jewellery Awards – Celebrating Excellence & Innovation

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The All India Gem & Jewellery Domestic Council (GJC) proudly announces the 15th edition of the National Jewellery Awards (NJA’26), India’s most prestigious celebration of excellence in the gem and jewellery industry. Widely regarded as the industry’s highest honour, the National Jewellery Awards recognise and celebrate exceptional achievements in jewellery design, manufacturing, retailing, craftsmanship, innovation, and branding.

Entries for NJA 2026 are now officially open. Jewellers, designers, Women entrepreneurs and students from across India are invited to participate. Submissions will be accepted until 22nd August 2026, through the official GJC portal.

The awards provide a national platform to showcase talent, gain recognition, network with peers, and enhance knowledge of the latest jewellery trends. Winning entries will receive nationwide acclaim and media visibility, reinforcing NJA’s reputation as the industry’s most coveted recognition of excellence. The winners will be announced on 3rd October 2026 at Jio World Convention Centre, Mumbai during India Gem and Jewellery Show – GJS Diwali Edition – A Grand Business to Business Expo #HumaraApnaShow.

By honouring the vision, artistry, and entrepreneurial spirit of India’s finest jewellers, NJA continues to inspire excellence, set new industry benchmarks, and reinforce the country’s position as a global leader in the gem and jewellery sector. Over the years, NJA has evolved into the definitive celebration of India’s finest jewellery artistry, where timeless craftsmanship meets contemporary innovation. Revered as the highest honour in the gem and jewellery fraternity, the awards recognise masterful creations that embody exceptional design, meticulous craftsmanship, artistic excellence, and unparalleled quality.

NJA is GJC’s endeavour to stimulate industry growth. It is the ultimate platform to inspire and recognize true talent among GJC’s valued members and associates. Nurturing creativity and honouring innovation, inspiration, passion, craft, and devotion that inspires the flair for new talent is the core objective of NJA. The immense success and recognition of NJA Awards in the industry have determined the 15th edition, with Ernst & Young (EY) as an Independent Process Advisor to emphasize brilliant aspects catering to every vital sector of the industry. Ultimately, NJA stands as the industry’s recognition by the industry, from the industry, to the industry — a true celebration of collective excellence.

The National Jewellery Awards (NJA’26) will feature five distinguished award segments encompassing 12 carefully curated categories and 28 sub-categories, celebrating excellence across the entire gem and jewellery value chain. From breathtaking jewellery designs and impeccable craftsmanship to retail excellence, branding, manufacturing, and business innovation, the awards honour those who continue to redefine creativity and set new benchmarks for the industry. Each category reflects the evolving aspirations of India’s jewellery sector while recognizing the visionaries whose artistry, precision, and entrepreneurial excellence are shaping the future of fine jewellery.

The winners will be selected through a rigorous, multi-tier evaluation process designed to uphold the highest standards of credibility and excellence. Entries will first be assessed by a distinguished Grand Jury comprising industry veterans, entrepreneurs, advisers, financier who will evaluate each submission for its design aesthetics, originality, craftsmanship, finishing, innovation, quality, and market impact. The process will culminate in a comprehensive Screening Jury review, ensuring every winning creation and brand is judged with fairness, transparency, and uncompromising attention to detail, reinforcing the National Jewellery Awards’ reputation as the industry’s most coveted recognition of excellence.

Announcing the opening of entries, Rajesh Rokde, Chairman, All India Gem & Jewellery Domestic Council (GJC), said,

“The 15th edition of the National Jewellery Awards reflects the remarkable journey and growing stature of India’s jewellery industry. NJA has emerged as a platform that provides nationwide recognition to exceptional talent while helping businesses expand their reach and reputation.

By celebrating excellence in design, craftsmanship and innovation, the awards not only inspire the industry but also strengthen the vision of ‘Make in India’ and showcase the extraordinary capabilities of Indian jewellers to the nation. Importantly, NJA also serves to connect with the national gems and jewellery communities, supporting upcoming talent across India and motivating the traditional essence of Indian culture through jewellery.”

Avinash Gupta, Vice Chairman, GJC, said:

“The 15th edition of the National Jewellery Awards reflects the remarkable journey and growing stature of India’s jewellery industry. NJA has emerged as a platform that provides nationwide recognition to exceptional talent while helping businesses expand their reach and reputation. By celebrating excellence in design, craftsmanship and innovation, the awards not only inspire the industry but also strengthen the vision of ‘Make in India’ and showcase the extraordinary capabilities of Indian jewellers to the nation.

Importantly, NJA also serves to connect with the national gems and jewellery communities, supporting upcoming talent across India and motivating the traditional essence of Indian culture through jewellery.”

Sunil Poddar, Convenor NJA, said:

“As we celebrate the 15th edition of the National Jewellery Awards, our commitment to recognising exceptional talent remains stronger than ever. NJA continues to spotlight artisans, designers and visionaries whose dedication and innovation shape the future of the jewellery industry. Over the years, the awards have evolved into the industry’s most respected and inclusive platform, honouring creativity, passion and excellence while setting new benchmarks for success.”

Rupesh Tambi, Joint Convenor, NJA, added:

“The National Jewellery Awards have consistently celebrated excellence, craftsmanship and innovation across every segment of the industry. The 15th edition further reinforces our commitment to nurturing talent through a fair, transparent and process-driven selection mechanism validated by Ernst & Young (EY). This credibility has made NJA one of the most trusted and respected awards in the Indian jewellery industry.”

Sumeet Anand, Joint Convenor, NJA, Said:

“The NJA has grown into a benchmark of credibility and prestige over the years. As we celebrate the 15th edition, it is not just an award ceremony—it is a recognition of the relentless passion, creativity, and integrity that drive our industry forward.”

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