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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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Senco Gold & Diamonds Brings An Exclusive Jewellery Exhibition To Bikaner, Celebrating Rajasthani Craftsmanship And Senco’s Kolkata Karigari Heritage

The exclusive exhibition brings together traditional Rajasthani jewellery, regional craftsmanship and Senco’s Kolkata karigari heritage, alongside an extensive selection of gold and natural diamond jewellery, lightweight traditional designs, live experiences, customer engagement activities and exclusive rewards from 14th to 31st August 2026.

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Senco Gold & Diamonds is hosting an exclusive jewellery exhibition at its Bikaner store from 14th to 31st August 2026, as customers begin preparing for the upcoming festive and wedding season. At the heart of the exhibition is a celebration of jewellery craftsmanship, bringing together traditional Rajasthani jewellery, regional jewellery craftsmanship and the rich karigari heritage of Kolkata that has been an integral part of Senco’s identity.

The showcase brings the breadth and versatility of Senco’s jewellery offering under one roof, highlighting the distinctive jewellery traditions of Rajasthan, with regional pieces such as Baju Bandh, Rakdi Set, Shishful, Nath, Bangdi, Panchlda, Tinlda and Kantha. These traditional creations reflect the ornate detailing, cultural influences and craftsmanship associated with the region, allowing customers to explore Rajasthan’s jewellery heritage alongside Senco’s broader collection of contemporary and traditional designs. 

The exhibition also offers an opportunity to explore the wider portfolio, with brands and collections created for different expressions of jewellery and lifestyle. From lightweight gold jewellery and Aham’s contemporary men’s jewellery to couture-led designs, Vivaha’s bridal offerings and Gossip’s silver and fashion jewellery, the portfolio reflects Senco’s focus on giving customers greater choice across occasions, aesthetics and ways of wearing jewellery.

Designed as more than a jewellery showcase, the exhibition brings together live artistry, entertainment, refreshments and interactive customer experiences, creating a festive environment for customers and families.

The celebrations continue on 15th August with Independence Day and Teej celebrations, alongside live Mehendi Art, Nail Art and jewellery photoshoots. On 16th August, customers can enjoy further exhibition activities, including live beauty experiences and jewellery photoshoots.

The exhibition enters its customer engagement phase from 28th to 31st August, with a line-up of interactive activities including live Lac Bangle Making. The exhibition culminates on 31st August with Grand Customer Engagement and Closing Activities.

Adding to the excitement is an Exclusive Lucky Draw, giving customers an opportunity to win surprise gifts and exclusive coupons. Customers making purchases eligible during the exhibition period from 14th to 31st August 2026 can participate in the draw.

Speaking on the occasion, Suvankar Sen, MD & CEO, Senco Gold & Diamonds, said:

“India’s jewellery traditions are incredibly diverse, and that diversity is something we have always celebrated at Senco. Rajasthan has its own rich jewellery language and craftsmanship, while our roots in Kolkata have given us a deep connection with karigari and the art of jewellery making.

Bringing these together in Bikaner allows customers to experience that diversity alongside the breadth of what Senco offers today, from gold and diamonds to 9KT, 14KT and 18KT gold, from necklaces and earrings to kadas, bangles, rings and mangtikkas, and from statement jewellery to lightweight traditional pieces designed for ease of wear. Most importantly, we want customers to experience the trust and craftsmanship that Senco has built over generations, while discovering jewellery that feels relevant to their own celebrations and style.”

The Bikaner exhibition reflects Senco Gold & Diamonds’ approach to creating retail experiences that go beyond the jewellery itself, bringing together craftsmanship, regional heritage, design versatility and customer engagement. As customers prepare for the festive and wedding season, the exhibition offers an opportunity to discover the richness of Indian jewellery traditions alongside Senco’s contemporary design sensibility, with a wide selection of jewellery and a vibrant programme of experiences, entertainment and rewards.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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