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
JOS ALUKKAS Announces Special Offers for Akshaya Tritiya
Festive Deals Include Up to 50% Off Making Charges, Diamond Discounts, Gold Rate Protection & Exclusive Cashback Benefits
Jos Alukkas, a trusted name in quality, innovation, and trendy jewellery in India, has announced an array of special offers as part of Akshaya Tritiya celebrations, which fall on 19th & 20th April 2026.
Booking offers are currently available at Jos Alukkas, allowing customers to pay just 10% and benefit from gold rate protection, providing an enhanced and rewarding shopping experience with a wide selection of gold, platinum, and diamond jewellery.
Customers can avail a flat 50% discount on making charges for selected gold, diamond, and platinum jewellery. In addition, an exclusive offer of a flat 30% discount on diamond value is available on all collections.
Customers can also receive a free gold coin with every purchase of 10 grams of gold jewellery, as well as a free gold coin per carat on diamond purchases. Additionally, there is a 0% loss on the exchange of old 22kt gold.
Commenting on the campaign, Paul Alukkas, Managing Director, Jos Alukkas, said:
“Akshaya Tritiya is a significant and celebratory occasion for us at Jos Alukkas, just as it is for our customers. This year, we are presenting an exquisite and diverse range of jewellery across categories, offering something for every preference. We are also witnessing a growing demand for lightweight, contemporary designs. Our specially curated festive offers reflect our commitment to blending tradition with evolving consumer preferences, making this occasion truly memorable.”
As part of the festive promotion, customers purchasing gold jewellery can receive a cashback of Rs. 100 per gram from stores. This cashback can be redeemed between 19th April and 3rd May and is not applicable to gold coins, gold bars, or silver purchases.
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