National News
GJEPC on India–EU FTA: Zero Duty Access Paves Way to Double Bilateral Gem & Jewellery Trade to USD 10 Billion (~Rs. 91000 Crore)
Duty elimination expected to unlock export growth, improve competitiveness and expand India’s footprint in Europe’s jewellery market
The Gem & Jewellery Export Promotion Council (GJEPC) welcomes the elimination of import duties on Indian gem and jewellery products under the India-EU Free Trade Agreement (FTA). This removes 2-4% duties on precious jewellery, unleashing huge export potential with the 27-member EU bloc—home to the world’s elite buyers.
India’s gem and jewellery exports accounted for USD 30 billion in CY 2024. Bilateral trade with the EU reached USD 5.2 billion, with exports at USD 2.7 billion (8.92% of total) and imports at USD 2.5 billion. EU jewellery imports from India remain limited at USD 628 million, of which USD 573 million is precious jewellery and USD 55 million is fashion (imitation) jewellery—these currently attract 2-4% duties— leaving the market dominated by non-FTA competitors.
Kirit Bhansali, Chairman, GJEPC thanked Hon’ble Prime Minister Narendra Modi and Commerce & Industry Minister Piyush Goyal for securing the India-EU FTA, the ‘mother of all trade deals’.
The India-EU FTA will supercharge market diversification for the gem and jewellery industry. This transformative pact aims to double bilateral trade to USD 10 billion (~Rs. 91,000 crore) within three years. Zero-duty access to the world’s largest consumer market empowers export hubs in Gujarat, Rajasthan, Maharashtra, and West Bengal to ramp up shipments of precious jewellery (plain and studded), silver capitalizing on India’s renowned design prowess. Especially with exports to the USA down by 44%, this timely pact will help Indian exporters salvage lost ground.
Amid soaring metal prices and evolving trade dynamics, the deal enhances margins, sharpens our competitive edge in design and craftsmanship, accelerates manufacturing, and generates jobs. For Indian jewellery retailers, it opens doors to expand brands across Europe, building on their rising global footprint.”
Zero-duty access opens doors across segments, leveraging India’s edge in lightweight/minimalist gold, machine-made, studded, silver, coloured gemstone, and fashion jewellery. This will boost exports, improve competitiveness, create jobs, and significantly improve bilateral trade in the long run.
source : GJEPC
National News
September’s Blue: 5 Sapphire Jewels To Know From Irasva Fine Jewellery
As September Celebrates Sapphire As Its Birthstone, Irasva Fine Jewellery Spotlights Five Exquisite Blue Sapphire Jewels That Bring Together The Gemstone’s Timeless Allure, Rich Colour and Contemporary Elegance.
September puts the spotlight on the sapphire– a gemstone long admired for its captivating blue hues, rarity and enduring place in fine jewellery. Marking the birthstone month, Irasva Fine Jewellery presents a curated edit of five blue sapphire pieces that celebrate the gemstone in distinct silhouettes, from understated everyday elegance to statement-making jewels.
Known for its distinctive approach to fine jewellery, Irasva brings together Sapphire pieces, showcasing the depth and character of blue sapphire through refined craftsmanship and thoughtfully designed settings.
1. Round Created Sapphire and Lab Diamond Classic Solitaire Under Halo Pendant
This pendant has a wear-forever style. It holds one round Created Sapphire on a polished bail. Underneath the colored gem is a hidden halo of lab-grown diamonds. Extremely minimal yet elegant, this pendant has what it takes to be your daily go-to accessory.
- Sapphire Classic Three Stone Cluster Earrings
A classic statement piece, this pair of sapphire earrings won’t look out of place when paired with a variety of outfits. Each earring features a trio of round sapphire set on shared-prong baskets. These classic ear sparklers go with every outfit, face shape, and style so you never have to worry about looking elegant all the time.
3.Toi et Moi Created Sapphire and Lab Diamond Bypass Engagement Ring
Pick this ring if you’re searching for a modern minimalist engagement ring that tells a story and tells it in a simply romantic way. This “toi et moi” or you-and-me ring perfectly depicts the meeting of two souls. It features a slim yet curvy bypass shank, with each end topped with a pear-cut created sapphire and diamond on a three-prong basket setting.
- The Indy Cuffs
A cascading silhouette inspired by the movement of a shooting star. Finished with blue gemstones and delicate diamonds for subtle sparkle.
Link – https://www.irasva.com/products/the-indy-cuffs?_pos=10&_sid=380322f2e&_ss=r
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