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
Hari Krishna Group’s 12th Amrit Ganga Tirth Yatra Brings 1,380 Members Together in a Celebration of Faith, Gratitude and Togetherness
The yatra includes 344 Radha Krishna couples, 490 employees’ parents, 310 parents-in-law, 54 organising committee members, 63 invited guests, 150 artists, 77 kitchen staff and 96 support staff
For Hari Krishna Group, employees are never just employees; they are family. And when someone becomes part of the HK family, their parents become our parents too.
Living this belief for over a decade, Hari Krishna Group has commenced its 12th Amrit Ganga Tirth Yatra 2026, bringing together 1,380 members of the HK family on a spiritual journey to Haridwar and Rishikesh. More than an annual pilgrimage, the yatra is a heartfelt tribute to parents and elders whose love, sacrifices and blessings have shaped generations.
This year, the yatra includes 344 Radha Krishna couples, 490 employees’ parents, 310 parents-in-law, 54 organising committee members, 63 invited guests, 150 artists, 77 kitchen staff and 96 support staff, making it one of the most cherished traditions of the Hari Krishna Group. Every invitation reflects the organisation’s culture of treating employees and their families as one extended family.


Months of meticulous planning go into making this journey comfortable and memorable for every elder. From travel, accommodation and healthcare to meals, hospitality, sightseeing and daily assistance, every arrangement is thoughtfully planned so that participants can focus entirely on their spiritual experience with complete peace of mind.
The journey began with the traditional Vadil Vandana ceremony at the Group’s Surat and Mumbai offices, where elders were welcomed with shawls as a mark of honour. Employees also performed Pad Prakshalan, the sacred tradition of washing the feet of parents and elders, expressing gratitude for their lifelong sacrifices. Inspired by the timeless values of Shravan Kumar, employees accompany the senior members throughout the pilgrimage, ensuring they experience every moment with comfort, care and dignity.

Over the coming days, participants will take part in Rudra Abhishek, Ganga Snan, the divine Ganga Aarti at Har Ki Pauri, yoga and meditation sessions, spiritual discourses, cultural performances, recreational activities and tree plantation initiatives. The itinerary also includes visits to the sacred destinations of Rishikesh, Ram Jhula, Laxman Jhula, Janki Jhula, Mansa Devi and Chandi Devi, creating an enriching experience that beautifully blends spirituality, wellness and togetherness.
Speaking on the occasion, Savjibhai Dholakia, Visionary Founder and Chairman of Hari Krishna Exports, said:
“Every parent spends a lifetime creating a better future for their children. This yatra is our humble way of expressing gratitude to them. At Hari Krishna Group, we have always believed that our employees are family, and naturally their parents become our parents too. Their blessings are our greatest strength, and serving them is our greatest privilege. If we can bring smiles to their faces and create memories they cherish for a lifetime, we feel truly blessed.”
As the 12th Amrit Ganga Tirth Yatra begins, Hari Krishna Group continues to uphold a tradition where business and values walk hand in hand. More than a pilgrimage, the yatra is a living expression of gratitude, respect and togetherness, reminding every member of the HK family that while businesses may be built with vision, enduring legacies are built by honouring parents, preserving culture and staying rooted in family values.
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