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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

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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.”

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National News

Svariya Introduces a New Era of Everyday Jewellery with ‘Unleash Jewellery. Not Rules.’ Philosophy

Svariya Redefines Everyday Jewellery with Effortless Style and Wearability

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In an era where personal style is becoming an everyday expression of identity, emerging demi-fine jewellery brand ‘Svariya’ is redefining how jewellery is worn, experienced, and lived in. Built on the philosophy ‘Unleash Jewellery. Not Rules’ the brand challenges long-standing norms that have traditionally defined the jewellery industry.

For years, jewellery has been associated with care instructions- remove before showering, store properly, avoid daily wear. Svariya reimagines this approach by creating pieces that are articulated for real life- effortless, durable, and meant to be donned without hesitation.

Positioned in the fast- growing demi-fine jewellery segment, Svariya offers thoughtfully designed collections crafted using high-quality materials such as stainless steel, silver, zircon stones, and premium gold plating. The brand’s jewellery is anti-tarnish, waterproof, and hypoallergenic, allowing it to seamlessly integrate into everyday routines.

 “At Svariya, we believe jewellery should fit into your life effortlessly,” as quoted by Vishnupriya Singh, who is also the CEO of the brand. “Our philosophy, ‘Unleash Jewellery. Not Rules is about giving every woman the freedom to wear her jewellery without worrying about upkeep.

Designed with a minimalist yet statement-making aesthetic, Svariya’s pieces are created for the smooth transition across occasions, from daily work wear to social gatherings, without compromising on style statement. The brand focuses on versatility and longevity, ensuring that its collections remain relevant beyond seasonal trends.

The emergence of brands like Svariya reflects a broader shift in consumer preferences, where modern women are increasingly seeking products that combine elegance with ease. As lifestyles become more dynamic, jewellery is no longer confined to special occasions but has become an integral part of everyday wear.

With a digital-first approach and a strong focus on product quality, Svariya aims to build a meaningful presence in the affordable luxury jewellery space, catering to consumers who value both aesthetics and functionality. More than just adornment, Svariya represents a mindset—one that encourages confidence, individuality, and effortless style. Through its philosophy, the brand invites consumers to move beyond traditional rules and embrace jewellery as a natural extension of their everyday lives.

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