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
Zithara.AI Partners With Palmonas To Strengthen AI Led Revenue Growth and Customer Engagement In Jewellery Retail
Collaboration To Enable Personalised Customer Engagement, Improve Retention, and Support Scalable Revenue Growth Through AI Native CRM
Zithara.AI, an AI-native customer engagement platform for offline retailers, announced a strategic partnership with Palmonas to enhance customer engagement through data-driven solutions across the brand’s retail operations.
As part of the partnership, Palmonas will implement Zithara.AI’s AI-native CRM platform to unify customer data across multiple touchpoints, enabling a single, consolidated view of customer interactions. The platform will support intelligent customer segmentation, automated engagement workflows, and personalised communication designed to improve customer retention and increase repeat purchases. The deployment is aimed at creating a more structured and consistent approach to customer engagement as the brand continues to scale.
The integration will allow Palmonas to capture and analyse customer data across online and offline touchpoints, enabling targeted campaigns, timely follow-ups, and more relevant communication across the customer lifecycle. By helping bridge the gap between digital customer enquiries and physical store visits, the platform will support improved customer conversions, strengthen retention, and enable more effective customer journeys that contribute to revenue growth.
Speaking about the partnership, Hitesh Magoo, CMO, Demifine Fashion Pvt. Ltd., said,
“At Palmonas, our focus has always been on creating meaningful customer experiences while expanding our retail presence. As more customers discover brands through digital channels, one of the biggest opportunities for offline retailers is converting that interest into store walk-ins and lasting customer relationships. We were looking for a platform that could intelligently manage customer engagement across multiple stores while helping us improve walk-in conversions and long-term customer retention. Zithara.AI’s AI-native platform aligns with these objectives by enabling more personalised customer interactions that support stronger conversions, increased store walk-ins, and sustainable revenue growth. We look forward to leveraging its capabilities to build deeper customer relationships as we continue to scale our retail footprint.”
Varun Kashyap, Co-Founder, Zithara.AI, said,
“We are pleased to partner with Palmonas as they continue to expand their retail presence. Our platform is built to help brands organise and leverage their customer data to drive structured, consistent, and personalised engagement. This partnership reflects the growing focus among offline retailers on using technology to strengthen customer relationships and improve retention.”
Sridevi Reddy, Co-Founder, Zithara.AI, added,
“Our focus is on enabling offline retailers to become more data-driven and customer-centric. Through this partnership, we aim to help Palmonas build stronger customer connections and deliver more personalised experiences at scale.”
The partnership marks a continued focus by Zithara.AI and Palmonas on leveraging AI-native capabilities to strengthen customer engagement and support revenue growth in offline retail environments. By integrating Zithara.AI’s platform, Palmonas aims to build a more connected, efficient and scalable customer engagement framework aligned with its growth plans.
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