National News
India-EFTA TEPA secures duty-free access for gems & jewellery to Switzerland, Norway & Iceland, Liechtenstein
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.
National News
Bhima Gold Unveils Ashtalakshmi Coin Collection for Akshaya Tritiya, Blending Devotion with Exquisite Design
A culturally rooted, insight-led launch that reimagines festive gold buying through storytelling, symbolism, and spiritual relevance.
In a move that blends cultural storytelling with product innovation, Bhima Gold has unveiled its Ashtalakshmi Coin Collection for Akshaya Tritiya – positioning gold not just as a purchase, but as a deeply symbolic expression of prosperity, faith, and intent.
Timed with one of India’s most significant gold-buying occasions, Akshaya Tritiya, the launch reflects a deeper cultural shift in consumer behaviour. While the festival continues to drive strong purchase intent, there is a growing preference for meaningful, purpose-led buying experiences over purely transactional consumption.
Aligned with this evolving mindset, the Ashtalakshmi coin collection has been thoughtfully conceptualised to blend tradition with deeper symbolism. Inspired by the eight sacred forms of Goddess Lakshmi, each coin represents a distinct dimension of prosperity—from wealth and nourishment to courage, knowledge, and continuity.

By bringing together Adi Lakshmi, Dhana Lakshmi, Dhanya Lakshmi, Gaja Lakshmi, Santana Lakshmi, Veera Lakshmi, Vijaya Lakshmi and Vidya Lakshmi, the collection reframes gold coins from being a generic festive purchase to a story-driven, culturally immersive product experience – one that resonates across generations and belief systems.
This launch also aligns with Bhima Gold’s larger centenary narrative of “Together Purever,” which focuses on legacy, shared traditions, and evolving consumer meaning. The collection becomes an extension of that philosophy – reinforcing how heritage brands are reinterpreting tradition for a more aware and emotionally driven consumer.
Customers can pre-book their favourite jewellery by paying just 10% in advance & get their jewellery on Akshaya Tritiya at the lowest rate, which gives customers more flexibility and helps them plan their purchases with greater confidence, especially at a time when gold prices are high.
Akshaya Tritiya has traditionally been associated with intention, belief, and the aspiration for prosperity, extending beyond a purely transactional act of buying gold. The Ashtalakshmi Coin Collection has been conceptualised to reflect this deeper cultural and spiritual significance, with each coin designed to carry a distinct meaning and sense of purpose. The initiative also aligns with evolving consumer preferences, where there is a noticeable shift towards jewellery that offers emotional, cultural, and spiritual resonance in addition to intrinsic value.
With gold prices near record highs and consumer sentiment becoming more considered, Bhima’s Ashtalakshmi Coin Collection signals a broader shift in the category — from price-led promotions to meaning-led engagement, where design, storytelling, and cultural relevance drive both differentiation and demand.
As legacy brands navigate a new era of conscious consumption, Bhima Gold’s latest offering highlights how tradition can be reimagined as experience, making gold buying not just an act of investment, but an expression of identity and belief.
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