National News
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
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.”
National News
IJEX 6TH Fam provides comprehensive insights into ME market
Five-day immersion under GJEPC’s Export Mentorship Programme equips Indian exporters with market intelligence, retail exposure, and strategic clarity across the UAE jewellery landscape.
The five-day Familiarisation (FAM) Program by GJEPC’s India Jewellery Exposition Centre (IJEX), Dubai, provided Indian jewellery exporters with comprehensive insights into the Middle East market, focusing on regional dynamics, consumer preferences, and retail environments across the UAE.
The 6th batch of the IJEX FAM Programme, initiated and facilitated under GJEPC’s Export Mentorship Programme (EMP), delivered a structured five-day immersion into the UAE jewellery ecosystem, combining market intelligence, design orientation, logistics guidance, and extensive retail visits across Dubai, Abu Dhabi, and Sharjah. Participants consistently highlighted the programme’s practical value, mentorship, and clarity in building export readiness.
Day 1: Understanding the Middle East Landscape
The programme commenced at IJEX with an introduction session followed by a presentation on navigating the Middle East jewellery market, covering regional dynamics, consumer preferences across emirates, export opportunities, and positioning strategies across wholesale and retail segments. Delegates then visited Ithraa Wholesale & Retail, Goldcenter Building, Gold House, Jewel Plaza, Traditional Gold Souq, African Souq, and Gold Land, together representing around 475 retailers and 460 offices, giving participants a broad view of both wholesale and traditional trading ecosystems.
Day 2: New Dubai Retail and Design Insights
A designer interaction session focused on branding, cultural motifs, and regional aesthetics relevant to GCC consumers. Market visits to Mall of the Emirates, Lulu Hypermarket – Al Barsha, Gold & Diamond Park, and Dubai Hills Mall allowed delegates to observe nearly 115 jewellery retailers across luxury malls, diaspora-focused outlets, and specialised diamond boutiques, highlighting differences in merchandising, product mix, and customer behaviour.
Day 3: Logistics, Compliance and Market Diversity
A session by Ferrari Freight Forwarders covered import procedures, documentation, duties, and secure logistics handling. Subsequent visits to Dubai Mall, Dubai Design District (d3), Karama Centre, and Meena Bazaar brought delegates in contact with about 150 retailers, spanning ultra-luxury international brands to culturally driven Indian diaspora markets, reinforcing the diversity of customer segments within the UAE. .
Day 4: Abu Dhabi Market Exploration
Visits to Madinat Zayed Gold Centre, Hamdan Street, and Abu Dhabi Mall covered roughly 132 jewellery stores, offering insights into the capital’s consumer preferences across luxury, traditional Arabic styles, and price-sensitive segments. Delegates reported improved clarity in identifying suitable positioning and product strategies for different emirates.
Day 5: Strategy Alignment and Expansion
The final day focused on one-to-one consultations with the IJEX team, followed by a certificate ceremony and a visit to Sharjah Blue Souq, where delegates explored around 110 jewellery stores known for 18kt, 21kt, and 22kt gold, diamonds, and silver collections, further expanding their understanding of regional demand across the Northern Emirates.
Overall, participants described the programme as informative, well-organised, and strongly supportive, with several stating that the experience provided clarity, confidence, and a concrete roadmap for entering export markets through IJEX.
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