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
Varamahalakshmi Vratam: Elevate Your Festive Look with Kushals’ Silver Temple Jewellery
Tradition Meets Contemporary Glamour with 92.5 BIS Hallmarked Silver Temple Jewellery for Varamahalakshmi Celebrations
Varamahalakshmi Vratam is a celebration where tradition and festive style come together beautifully. From the elegance of silk sarees, the sparkle of jewellery, and the fragrance of jasmine flowers to the vibrant rangolis and the rituals that bring families together, every element adds to the festive mood.
This Varamahalakshmi Vratam, Kushals Fashion Jewellery brings together the beauty of South Indian temple jewellery with its 92.5 BIS Hallmarked silver temple jewellery collection, offering designs that add a contemporary touch while staying rooted in traditional aesthetics.
Inspired by the ornate jewellery associated with South Indian temples, the collection features statement necklaces, elegant chokers, ornate jhumkas, bangles, and rings. Designs are brought to life with motifs of Goddess Lakshmi, peacocks, lotuses, elephants and other auspicious elements, making them particularly suited to the spirit of Varamahalakshmi celebrations.
For the Varamahalakshmi pooja, pair a statement temple necklace with a silk saree to create a classic festive look. At the same time, intricately detailed jhumkas, bangles or rings can add a more understated touch. The jewellery can also be styled with Anarkalis, festive salwar suits and contemporary Indian ensembles, making the collection versatile beyond the occasion itself.
The collection also showcases details such as vibrant kemp stones, intricate filigree work and antique-inspired finishes, giving the jewellery a rich and festive character. The result is a selection that can seamlessly move from traditional festive dressing to contemporary celebrations.
Speaking about the collection, Manish Gulechha, CEO & Co-Founder of Kushals Fashion Jewellery, said,
“Varamahalakshmi Vratam is one of the most cherished festive occasions in South India, and jewellery plays an important role in how women celebrate the day. Our Silver Temple Jewellery Collection has been thoughtfully designed to offer statement pieces that honour tradition while fitting seamlessly into the way women dress and celebrate today.”
The Kushals Varamahalakshmi collection is available across 30 stores in Bengaluru, 19 stores in Hyderabad, 12 stores in Chennai, 2 stores in Coimbatore and online
Varamahalakshmi Vratam: Elevate Your Festive Look with Kushals’ Silver Temple Jewellery
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