National News
India-NZ FTA- GJEPC Targets 200% Export Growth to $50 Million in 3 Years
Zero-duty Access Under the India–New Zealand FTA Set to Triple Exports and Strengthen India’s Competitive Edge in a High-Growth Market
The Gem & Jewellery Export Promotion Council (GJEPC) welcomes the signing of the India–New Zealand Free Trade Agreement (FTA) on 27 April 2026, calling it a timely step to open a high-potential market for Indian exporters.
While current gem and jewellery exports to New Zealand stand at about USD 16.61 million, the zero-duty access secured under the agreement is expected to drive growth to nearly USD 50 million over the next three years.
The Council highlighted a clear duty advantage over competitors such as China and Thailand, which is likely to improve India’s market share across gold, silver, platinum, and fashion jewellery. It also pointed to opportunities to leverage the Indian diaspora and expand retail presence through local partnerships.
Kirit Bhansali, Chairman, GJEPC, said:
“The India–New Zealand FTA supports diversification of export markets beyond the US and GCC. With zero-duty access, exports can grow from USD 16.61 million to nearly USD 50 million in three years, while improving competitiveness against China and Thailand.”
GJEPC added that recent large-scale Indian investments in New Zealand’s jewellery retail segment signal long-term potential, with the FTA expected to support both exports and deeper economic engagement.
- Visit gives CG greater insights into diamond trade and import-export operations
- BDB Committee Highlights Close Ties between Diamond Industries in UAE and India
The Hon’ble Consul General of India to Dubai, Shri Vishnu Vardhan Reddy, visited the Bharat Diamond Bourse (BDB) complex on July 24, and after being shown around the complex, engaged with members of the Bourse Committee.
The visit enabled the Consul General to gather better insights into the functioning of the diamond trade and the operations within the Bourse. He also observed the smooth functioning of import-export trade in diamonds between the two countries, facilitated by the PCCCC run by Indian Customs within the complex.
The UAE is one of India’s most significant trading partners in the field of diamonds and jewellery. Bilateral trade between the two countries reached US$33.51 billion in FY2025-26.
In addition to a tour of the complex to understand the complete cycle from the import of rough diamonds to the export of polished diamonds, Shri Vishnu Vardhan Reddy also spent time interacting with Mehul Shah, Vice President, BDB, and other Committee members.
The BDB Committee highlighted the close connections between diamond companies in Mumbai and those in Dubai, as well as the regular interactions between the two centres. They thanked Shri Vishnu Vardhan Reddy for the cooperation they have always received from the Indian Embassy and expressed confidence that this visit would further streamline the movement of import-export parcels between the two countries.
Shri Vishnu Vardhan Reddy appreciated the global standards of the infrastructure and systems within the Bharat Diamond Bourse, as well as the professionalism with which the import-export trade operates. He assured the BDB Committee of the continued support of the officials at the Indian Embassy in the UAE.
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