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
QWEEN Becomes India’s First Jewellery Brand To Introduce 7 Colours Of Gold
The Brand Challenges The Conventional Three-Colour Palette, Giving Consumers Seven Distinct Colours Of Gold To Choose From.
QWEEN, India’s first self-discovery, 100% natural experiential luxury jewellery brand, has introduced 7 Colours of Gold, becoming the first jewellery brand in India to offer seven distinct gold colours to consumers. The offering brings together material innovation and craftsmanship to give consumers greater choice in expressing themselves through gold jewellery, expanding the conventional three-colour palette available in the country.
While coloured gold in the market is often created by changing the appearance of gold through rhodium plating or other surface treatments, QWEEN takes a fundamentally different approach. Each colour is created through carefully developed gold alloy compositions, so the colour comes from the gold itself, not from a coating on top of it.
QWEEN’s 7 Colours of Gold comprise Snowfall White, Cloudy Grey, Clover Green, Rose Bloom, Champagne Fizz, Desert Noon, and 24K Sunrise. Designed around the wearer’s individuality, the offering allows consumers to choose jewellery that complements their mood, skin tone, wardrobe, personality and lifestyle, making each piece feel deeply personal.
Seven colours is only the beginning. QWEEN moves beyond the traditional three-colour palette to make gold more personal and customisable, allowing consumers to choose their own gold colour across designs, while contemporary pieces bring multiple colours of gold together in unique combinations. The idea is simple: gold no longer has to come in one colour, or even one combination.
Amit Kumar, Co-Founder and CEO, QWEEN said:
“Gold has always been deeply emotional in India. It marks our milestones, carries memories and often becomes part of the stories we hold on to. At QWEEN, we believe something this personal should also leave room for self-discovery and self-expression. A woman is never just one version of herself; she has 20,000 shades. With 7 Colours of Gold, we wanted to give her more ways to express them, by reimagining not just how gold is worn, but what gold itself can look like.”
To showcase the offering, QWEEN has unveiled an innovative billboard featuring seven signature Apostrophe design rings, each in a distinct colour of gold, alongside the line, “Old is Gold. But Gold isn’t Old anymore.” The billboard’s lights switch on one by one, illuminating each colour in sequence and bringing the full seven-colour palette to life.
Consumers can explore the 7 Colours of Gold at QWEEN’s store at Aditya Ancora, Sector 50, Noida, where the experiential retail setting allows them to discover jewellery at their own pace.
QWEEN Becomes India’s First Jewellery Brand To Introduce 7 Colours Of Gold
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