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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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Rokde Jewellers Launches ‘Tax Free Mahotsav’ – Shop Jewellery and They Will Pay the GST

Limited-period festive campaign boosts jewellery buying sentiment in Vidarbha as customers enjoy GST-free purchases across gold, diamond, and bridal collections till March 31, 2026.

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Rokde Jewellers, widely regarded as Vidarbha’s most trusted and fast-growing regional jewellery brand, has announced its latest customer-centric campaign, ‘Tax Free Mahotsav’, reinforcing its commitment to value-driven retail and customer delight. The limited-period campaign, valid till 31st March 2026, brings a compelling benefit for jewellery buyers, wherein the GST on every purchase will be borne by Rokde Jewellers. With its customer-first promise, “Aapki Khushiyon Ki Kharidi Par GST Hum Bharenge,” the initiative is designed to make every purchase more rewarding during one of the busiest shopping periods of the year.

Timed to align with peak wedding and festive demand, ‘Tax Free Mahotsav’ offers customers a meaningful financial advantage while investing in jewellery for weddings, gifting, and milestone occasions. By absorbing the GST component, Rokde Jewellers effectively enhances purchasing power, enabling customers to upgrade their choices and maximise value within their planned budgets. The offer is applicable across the brand’s entire portfolio, including certified gold jewellery, diamond collections, platinum ranges, bridal jewellery, festive and daily wear designs, as well as contemporary designer pieces.

Rokde Jewellers currently operates eight strategically located showrooms across Vidarbha, ensuring wide accessibility and a consistent customer experience across the region. In Nagpur, the brand has a strong presence at Laxmi Nagar, Mahal, Itwari, Koradi, Hingna Road, and Airport locations, along with established showrooms in Bhandara and Gondia.  This robust retail footprint allows the brand to effectively serve customers across urban, semi-urban, and district markets, further strengthening its position as one of the most trusted jewellery networks in the region.

Commenting on the campaign, Director Paras Rokde stated that jewellery purchases are closely tied to life’s most meaningful occasions, and through ‘Tax Free Mahotsav’, the company aims to extend additional value to its customers by taking on the GST burden. He added that the initiative reflects the brand’s ongoing commitment to transparency, trust, and making jewellery shopping more rewarding for every customer.

Continuing its growth momentum, Rokde Jewellers has confirmed its upcoming expansion into emerging markets such as Gadchiroli, Chandrapur, and Yavatmal. These additions are part of a well-defined strategic roadmap aimed at building a comprehensive jewellery retail presence across every major district in Vidarbha.

From a strong Nagpur base to a rapidly expanding multi-district presence, Rokde Jewellers has evolved into a regional jewellery powerhouse. Built on a foundation of purity assurance, craftsmanship, and customer-first initiatives, the brand continues to redefine organised jewellery retail in Vidarbha.

Customers are encouraged to visit any Rokde Jewellers showroom before 31st March 2026 to take full advantage of the ‘Tax Free Mahotsav’ benefits.- T&C Apply

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