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
Indriya, Aditya Birla Jewellery Unveiled India’s Largest Sustainable Jewellery Rangavalli
The Installation Transformed An Iconic Jewellery Design, From Indriya’s Festive Collection Padmika, Into A Magnificent Rangavalli, A Grand Celebration For Vijayadashami.
Indriya, Aditya Birla Jewellery, on unveiled India’s Largest Sustainable Jewellery Rangavalli, crafted from grains, at Orion Mall and Shri Sathya Ganapathi Shirdi Saibaba Temple on in Bengaluru, as a tribute to our rich cultural heritage and enduring festive traditions. Spanning 400 sq. ft. at Orion Mall and 1,600 sq. ft. at the temple, the large-scale Rangavalli installations, inspired by an iconic jewellery design from Indriya’s latest festive collection, Padmika, transform the intricate artistry of fine jewellery into magnificent expressions of a cherished cultural tradition steeped in devotion, craftsmanship and community spirit.

Padmika crafted in 22KT gold celebrated the revival of Gulabi Meenakari, a rare pink enamel craft, and the necklace featured an intricate nakshi floral detailing alongside the auspicious motif of Goddess Lakshmi seated on a lotus, symbolising prosperity, abundance and new beginnings. Reimagined as a magnificent Rangavalli using eco-friendly materials including rice, millets and seeds, the installation translated the intricate artistry of the necklace into a large-scale tribute to our cultural heritage. Bringing together thousands of individual elements, the artwork reflected the precision, patience and craftsmanship shared by both jewellery-making and Rangavalli creation. Created using grains, millets and seeds, the installation celebrated the enduring beauty of traditional art forms while offering visitors a distinctive and immersive festive experience.


Rooted in cultural authenticity, the initiative drew on the expertise of the renowned Rangoli artist Shikha Sharma popularly known as the “3D Rangoli Queen” and creator of record-breaking Rangoli artworks. By translating the detailing of an iconic temple jewellery design into Rangavalli, Indriya celebrated two art forms that shared a deep appreciation for intricate patterns, craftsmanship and the coming together of individual elements which created something extraordinary.
Sustainability was integral to the initiative and it extended the purpose of the installation beyond the festive celebration. Following Vijayadashami, the rice, millets and seeds used in the artwork were responsibly repurposed through feeding drives for birds and animals in partnership with Akhil Karnataka Prani Daya Sangh Gaushala.
Speaking about the initiative, Shantiswarup Panda, Head of Marketing & Visual Merchandising at Indriya, said:

“At Indriya, our endeavour is to celebrate India’s rich cultural heritage through meaningful and contemporary expressions. The Jewellery Rangavalli is an extension of that vision, reimagining an iconic Padmika design through a beloved festive tradition that resonates deeply with our audiences. As a brand inspired by culture and craftsmanship, we wanted to create an experience that not only showcases the artistry behind our jewellery but also invites consumers to engage with it in a memorable and immersive way. Through this initiative, we celebrate heritage, craftsmanship and the spirit of togetherness that lies at the heart of Vijayadashami.”
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