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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

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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’.

Kirit bhansali

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

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This Akshaya Tritiya, Begin A Legacy With Divine Solitaires’ Diamond Coin

A Modern Heirloom For Akshaya Tritiya, Blending Tradition, Rarity, and Enduring Diamond Value

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Akshaya Tritiya is not just another festive date; it is a moment of belief, where every purchase is seen as the beginning of something enduring. For generations, it has been associated with purchases that carry forward value, meaning, and intent.

This year, Divine Solitaires reimagines this tradition with its Diamond Coin, a modern heirloom designed for those who seek more than just ritual, but a deeper sense of permanence in what they choose to own.

Crafted to mark new beginnings while holding long-term significance, the Diamond Coin brings together the emotional weight of the occasion with the enduring value of natural diamonds. It is not simply a festive buy, but a conscious purchase, one that is meant to stay, evolve, and be passed on.

The collection is available in three variants:
1-gram coin featuring a 0.10 carat diamond
2-gram coin featuring a 0.14 carat diamond
3-gram coin featuring a 0.18 carat diamond

Each coin features a rare Divine Solitaires diamond, cut in the iconic 8 Hearts 8 Arrows pattern, found in less than 1% of the world’s diamonds. With VVS clarity and EF colour, these diamonds appear icy white and colorless to the naked eye, delivering unmatched brilliance and fire.

Jignesh Mehta, Founder and Managing Director, Divine Solitaires, said,
“Akshaya Tritiya has always stood for an occasion that speaks of value and meaning. With the Diamond Coin, we wanted to move beyond the idea of a transactional purchase and create something that truly holds its worth over time. It brings together rarity, craftsmanship, and trust, making it not just relevant for the moment, but significant for years to come.”

Adding to its versatility, the coin comes with a complimentary enamel-finished jacket, allowing it to be worn as a pendant, transforming it from a symbolic purchase into something that can be experienced every day.

To make this offering more accessible, customers can book their Diamond Coin with an advance of INR 2,000.

Reinforcing its commitment to trust and transparency, every Divine Solitaires diamond is backed by a quality guarantee certificate, validating 123 rigorous quality checks, along with lifetime upgrade and buyback options.

This Akshaya Tritiya, the Divine Solitaires Diamond Coin invites consumers to look beyond tradition, and invest in something that is designed to last, both in value and in meaning.

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