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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 Celebrates The Season Of Everyday Indulgence With ‘Drops Of Joy’

This Monsoon, Senco Invites Consumers To Embrace Everyday Moments With Jewellery That Celebrates Self-Expression, Personal Milestones and The Simple Joy Of Treating Yourself

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The monsoon has quietly become a season of self-upgrades, when the modern Indian woman slows down to celebrate herself through small yet meaningful indulgences. Whether it’s investing in something she’s long wanted, refreshing her wardrobe, or picking up a piece of jewellery simply because it brings her joy, the season has evolved into a time for personal rewards rather than just festive shopping.

Reflecting this evolving consumer mindset, Senco Gold & Diamonds unveils its ‘Drops of Joy’ monsoon campaign, celebrating everyday moments with thoughtfully crafted gold and diamond jewellery and attractive seasonal offers. Customers can enjoy up to 20% off on diamond jewellery, up to 40% off on gold jewellery making charges, making charges starting from 6%, along with 0% deduction on old gold exchange, even if the jewellery was purchased from another jeweller, making it easier than ever to upgrade to something new.

The campaign also taps into another significant shift in jewellery consumption. Once reserved for weddings and milestone occasions, diamonds are increasingly becoming an everyday expression of personal style, with younger consumers embracing wearable, versatile and accessible pieces that fit effortlessly into their daily lives. Against the muted backdrop of the monsoon, diamonds become a personal source of brightness, adding sparkle to ordinary moments and making every day feel a little more special.

Speaking about the campaign, Joita Sen, Director & Head of Marketing & Design, Senco Gold & Diamonds, said:

“The monsoon has a beautiful way of reminding us to slow down and appreciate the little things, a quiet coffee, an unexpected compliment, spending time with loved ones, or simply taking a moment for ourselves. With ‘Drops of Joy’, we wanted to celebrate these everyday moments that often bring the biggest smiles. Jewellery today is no longer only about grand occasions; it has become a way for people to express themselves every day.

Through these offers, we hope to make owning a beautiful piece of jewellery even more accessible, whether you’re buying your first diamond, exchanging old gold for something new, or simply treating yourself because you deserve it.”

The campaign reflects Senco’s continued focus on making fine jewellery more approachable for modern consumers by combining thoughtful pricing with timeless craftsmanship. With collections spanning gold, diamonds, platinum and more, the brand continues to redefine jewellery as an everyday expression of style and self-celebration while remaining deeply meaningful.

The ‘Drops of Joy’ monsoon offers are available across all Senco Gold & Diamonds showrooms, on the Senco App, and at www.sencogoldanddiamonds.com, for a limited period starting 3 July 2026.

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