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
PNG Jewellers Celebrates Shravan With The Return Of Its Signature Mangalsutra Mahotsav
From Timeless Gold To Contemporary Diamond Designs, The Annual Festival Offers An Extensive Collection Of Mangalsutras That Blend Tradition With Everyday Elegance
Reinforcing its commitment to celebrating one of India’s most cherished symbols of marriage, PNG Jewellers has announced the return of its much-awaited Mangalsutra Mahotsav, to be held from 13 August to 13 September 2026 across all PNG Jewellers stores in India. The annual festival showcases the brand’s widest-ever collection of mangalsutras, thoughtfully curated to suit the evolving preferences of Indian women while honouring the timeless significance of the ornament.
Over the years, Mangalsutra Mahotsav has become one of PNG Jewellers’ marquee annual initiatives, offering customers an extensive variety of traditional, contemporary and lightweight designs that seamlessly complement both festive occasions and everyday wear. This year’s collection reflects changing consumer preferences, featuring elegant gold mangalsutras, solitaire-inspired diamond styles, minimalist daily wear designs, and statement pieces that celebrate individuality alongside tradition.
Designed for married women of all ages, the festival also caters to husbands and families looking to gift a meaningful piece of jewellery during the auspicious month of Shravan. With an emphasis on affordability without compromising on craftsmanship, the Mahotsav enables customers to discover designs that suit every style, personality and budget.
As part of the festival, customers can avail themselves of Mangalsutra jewellery with making charges starting from just 7.99% for a limited period, valid until 13th September 2026. The exclusive offering brings together timeless design and craftsmanship, making it an ideal occasion to celebrate the enduring symbol of love, tradition and commitment.
Commenting on the occasion, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:
“Mangalsutra has always held deep emotional significance, but today’s women are redefining how they wear and celebrate it. At PNG Jewellers, our endeavour has been to preserve its cultural essence while introducing designs that complement contemporary lifestyles. Through Mangalsutra Mahotsav, we continue to offer one of the country’s most extensive collections, ensuring every woman finds a design that reflects her personality, whether rooted in tradition or inspired by modern elegance.This annual festival is our way of celebrating both heritage and self-expression.”
Backed by nearly two centuries of trust and craftsmanship, PNG Jewellers continues to innovate across categories while remaining deeply connected to India’s cultural traditions. Through initiatives such as Mangalsutra Mahotsav, the brand reaffirms its commitment to delivering exceptional design, unmatched variety and meaningful value to customers across its growing retail network.
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