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
VBJ Brings Its Signature Jewellery Showcase To Trichy This Aadi
~ Explore The Widest Range Of Gold, Diamond, Solitaire and Precious Stone Jewellery ~
VBJ, Vummidi Bangaru Jewellers, India’s most trusted heirloom jewellery brand, is set to host an exclusive two-day jewellery exhibition in Trichy on 29th & 30th July 2026 at Ramyas Hotel, Swarnam Hall, Williams Road, Cantonment, Trichy. Building on the immense love and patronage received from customers across the region, VBJ is bringing its signature collections closer to jewellery connoisseurs in the city, along with an exclusive Aadi offer of 20% off on Making Charges and Value Addition (VA) on gold, diamond, solitaire, precious stone and bridal jewellery.
The exhibition will present an extensive selection of jewellery collections featuring bridal masterpieces, elegant necklaces, bangles, earrings, rings, chains, gemstones and contemporary everyday designs. Thoughtfully curated to cater to evolving customer preferences, the showcase reflects VBJ’s enduring legacy of exceptional craftsmanship and uncompromising quality.
Speaking about the exhibition, Amarendran Vummidi, Managing Partner, VBJ, said:
“Trichy has always been an important market for us, and we are delighted to bring our exclusive jewellery exhibition to the city once again. As we prepare to open our new showroom here, this exhibition is our way of celebrating the trust and affection customers have shown us over the years. We warmly invite everyone to explore our exquisite collections and make the most of our exclusive Aadi offers.”
Adding to this, Jithendra Vummidi, Managing Partner, VBJ, said:
“This exhibition brings together some of VBJ’s finest signature collections, featuring an extensive range of gold, diamond, solitaire and precious stone jewellery. Whether customers are looking for heirloom bridal masterpieces or elegant everyday designs, the showcase offers something for every jewellery lover. With our exclusive Aadi offers, we are delighted to make this experience even more special.”
As a fifth-generation family-run brand, VBJ takes immense pride in its legacy as the creator of the historic Sengol (sceptre) – a sacred symbol of India’s democratic journey. Rediscovered after 72 years through meticulous research by the VBJ team, the Sengol was reinstated beside the Speaker’s chair in India’s new Parliament building, Sansad Bhavan, by Hon’ble Prime Minister Narendra Modi, marking VBJ’s enduring bond with India’s cultural and national heritage.
Further strengthening its regional presence, VBJ is set to open its all-new showroom on Karur Bypass Road, Trichy, soon, reaffirming the brand’s long-term commitment to serving customers across Tamil Nadu with personalised experiences and exceptional craftsmanship. The exhibition will remain open from 11 AM to 8 PM on both days.
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