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India-EFTA TEPA secures duty-free access for gems & jewellery to Switzerland, Norway & Iceland, Liechtenstein

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As the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA) comes into force on 1st October, India’s gems & jewellery exporters stand to gain from sustained duty-free access to key European markets — an advantage that has been preserved and reinforced under the new pact.

Signed on 10 March 2024, TEPA is India’s first FTA with developed European economies — Switzerland, Norway, Iceland and Liechtenstein. It reflects a commitment not just to freer trade in goods and services, but also to investment, sustainable development, and job creation.

For the gems and jewellery sector, TEPA secures duty-free access for several important product lines across EFTA nations.

Switzerland: Cut & polished natural diamonds, gold jewellery, and polished rubies, sapphires & emeralds

Norway: Cut & polished natural diamonds, gold jewellery, silver jewellery, and imitation jewellery

Iceland: Gold jewellery, silver jewellery, and imitation jewellery

The agreement goes beyond tariff elimination by creating a stable and predictable trade framework for exporters. It also brings a strong investment component, with EFTA countries committing USD 50 billion in FDI over the first decade, followed by another USD 50 billion in the subsequent five years.

This inflow is expected to generate one million direct jobs, with opportunities for design innovation, precision manufacturing and technology upgrades that could particularly benefit India’s jewellery MSMEs. Additionally, easier access to advanced equipment, inputs and capital from Europe is set to strengthen India’s value chains and improve the competitiveness of its jewellery exports.

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Candere expands Karnataka presence with Kengeri store opening

Lifestyle jewellery brand by Kalyan Jewellers strengthens Bengaluru footprint with modern retail experience and launch offers up to ₹35,000 off per carat.

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Candere, the lifestyle jewellery brand by Kalyan Jewellers known for its modern and trend-led designs, has expanded its retail presence in Karnataka with the launch of its newest store in Kengeri, Bengaluru. This new addition further reinforces the brand’s commitment to offering accessible, stylish, and contemporary jewellery for today’s discerning customers.

The Kengeri store represents Candere’s continued expansion in Karnataka, bringing its curated jewellery experience to one of the city’s rapidly developing residential and commercial neighbourhoods. The expansion strengthens the brand’s presence in key urban markets, catering to the growing demand for modern, design-led jewellery. Thoughtfully designed, the Kengeri store offers a contemporary retail environment complemented by personalised in-store assistance, reflecting Candere’s commitment to elegance, innovation, and an elevated shopping experience.

Known for its lightweight, versatile, and trend-forward jewellery, Candere appeals to Gen Z, working professionals, and style-conscious individuals looking for contemporary designs at accessible price points starting from Rs.10,000. Each piece is designed to help customers express their personal style through contemporary jewellery that blends seamlessly into everyday life.

To mark the launch of its new store, Candere is offering special promotions: Get up to Rs.35,000 off per carat + Rs.850 off per gram on making charges.

With the launch of its store in Kengeri, Candere continues to strengthen its omni-channel presence, integrating its digital expertise with a growing physical retail network. Supported by the heritage and trust of Kalyan Jewellers, the brand continues to enhance the jewellery-buying journey with a focus on transparency, ease, and customer relevance.

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