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
Divine Solitaires strengthens partnership with Anopchand Tilokchand Jewellers to accelerate solitaire growth in Raipur
Jignesh Mehta and Siddharth Baradiya align on future growth as Divine Solitaires scales its natural diamond footprint through local market leadership
Divine Solitaires is further strengthening its footprint in key regional markets through its focused partner-led expansion strategy. In Raipur, its growing association with Anopchand Tilokchand Jewellers (AT Jewellers) is playing a pivotal role in accelerating the solitaire category and driving stronger business outcomes in the region.
By combining Divine Solitaires’ globally benchmarked solitaire standards with AT Jewellers’ strong local market presence, the partnership is enabling both brands to build deeper consumer trust, enhance category visibility, and capture a larger share of the evolving solitaire demand in the city.
As consumer awareness and preference for solitaires continue to rise, jewellers aligned with structured, branded offerings are increasingly gaining a competitive edge in their respective markets. Divine Solitaires’ partner-driven model is designed to help jewellers capitalise on this shift—offering not just superior product standards but also a clear pathway to scale in a high-growth segment.
Jignesh Mehta, MD & Founder, Divine Solitaires, said:
“Our partnership with Anopchand Tilokchand Jewellers reflects how we are building the solitaire category market-by-market with strong regional players. In markets where we work closely with our partners, we are seeing stronger momentum in solitaire demand and improved category performance.
This model gives jewellers a clear edge—access to globally benchmarked diamonds along with the ability to differentiate and scale in a high-potential category. As we expand, our focus remains on building such strong, long-term partnerships across key markets.”
Jignesh Mehta recently visited the AT Jewellers store in Raipur, where he met with the leadership team led by Siddharth Baradiya to review market performance and align on future growth plans.
Siddharth Baradiya, Owner, Anopchand Tilokchand Jewellers, added:
“Our association with Divine Solitaires has significantly strengthened our solitaire offering and positioned us more competitively in the Raipur market. It has helped us build greater customer trust while driving consistent growth in this category.”
With a presence across 200+ stores in 100+ cities, Divine Solitaires continues to expand its partner network selectively across high-potential markets. Early partner jewellers are already benefiting from stronger category traction, and the brand remains focused on collaborating with leading retailers to drive the next phase of growth in the natural diamond solitaire segment.
Divine Solitaires strengthens partnership with Anopchand Tilokchand Jewellers to accelerate solitaire growth in Raipur
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