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
Platinum Guild International India Strengthens Consumer Visibility Ahead Of Wedding Season
Launches A Hyperlocal Consumer Visibility Programme Across Key Markets To Drive Consideration For Platinum Jewellery
Platinum Guild International (PGI) India has announced a focused hyperlocal activation programme ahead of the upcoming wedding season, aimed at strengthening consideration for platinum jewellery across key markets. The programme will run from mid-June to mid-July 2026.
Designed to deliver high reach and frequency across premium catchments, the initiative aims to increase visibility for platinum jewellery closer to key consumer decision-making moments. Building on the momentum of Platinum Season of Love and Men of Platinum: Chosen by Mahi, PGI India is extending its consumer engagement efforts through a market-by-market activation approach that brings platinum closer to consumers during an important purchase occasion.
The programme will leverage a mix of digital and phygital platforms, including targeted digital campaigns, intent-based audience targeting, geo-targeted media across premium catchments, MyGate activations in affluent residential communities, and metro branding in Kolkata and Chennai.
The wedding season is an important period for jewellery purchase and gifting. Platinum is increasingly emerging as a meaningful choice for wedding gifting, offering consumers a distinctive way to celebrate important relationships and milestones. Through this hyperlocal programme, the focus is to build visibility where purchase journeys begin, strengthen consideration for platinum jewellery, and support retail partners across key markets as consumers prepare for an important buying season.
The initiative reflects PGI India’s continued commitment to strengthening category relevance for platinum jewellery. By creating high-frequency visibility across key consumer touchpoints, the programme aims to support retail growth during one of the most important buying periods.
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National News16 hours agoPlatinum Guild International India Strengthens Consumer Visibility Ahead Of Wedding Season
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