National News
India’s GJ sector ready to take a major leap with India-UK FTA: GJEPC
The India-UK CEOs Forum convened in Mumbai on 8-9 October brought together business leaders from both nations to explore the opportunities unlocked by the new India-UK Comprehensive Economic & Trade Agreement (CETA). Among the distinguished participants was Kirit Bhansali, Chairman, GJEPC, who represented India’s gem and jewellery sector at the high-powered meeting.
The two-day forum focused on how the CETA signed in May this year will reshape bilateral trade by removing tariffs on 99% of Indian exports to the UK and 90% of UK exports to India.
Bhansali spoke about “Leveraging the India–UK CETA to Achieve Growth and Jobs,” alongside prominent Indian business figures including Uday Kotak, Karan Rathore, Dilip Shanghvi, Naren Goenka, Anil Agarwal, Harish Ahuja, Bhadresh Dodhia, and Namit Joshi. Each shared insights on how the agreement could boost competitiveness and create employment across key sectors.
The forum was co-chaired by Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises, and Bill Winters, Group Chief Executive, Standard Chartered, with senior government officials in attendance, including Amardeep Singh Bhatia, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, who addressed participants at the opening session.

Addressing the CEOs Forum Kirit Bhansali highlighted the gem and jewellery sector’s perspective: “The India-UK Free Trade Agreement marks a pivotal moment for the Indian gem and jewellery sector, unlocking immense growth opportunities and reinforcing our global leadership. With exports to the UK set to more than double to USD 2.5 billion within three years, this partnership will not only boost trade but also generate over 140,000 new jobs, directly benefiting artisans, manufacturers, and exporters across all key segments.
The FTA strengthens India’s position as a world leader in diamonds, gold, silver, and lab-grown stones, while enabling deeper market access and collaboration with UK retailers. We at GJEPC are committed to leveraging this historic agreement to drive innovation, employment, and sustainable growth for the industry and the millions who depend on it.”
For India’s gems and jewellery sector,Kirit Bhansali’s presence underscored the industry’s growing role in the global economy. With tariff barriers easing and market access expanding, the UK offers significant potential for export growth, design collaboration, and technology-driven value addition. The CETA promises to strengthen this momentum and position India’s gem and jewellery industry for an even more prominent role in shaping the future of India–UK trade relations.
National News
Bengaluru-based lab-grown diamond jewellery startup ONYA raises ₹5.5 crore in pre-seed funding led by Zeropearl VC
The brand scales to four profitable high-street stores in Bengaluru, touching ₹2 crore MRR in 11 months
ONYA, one of India’s fastest-growing offline-first, premium lab-grown diamond jewellery brands, has raised Rs.5.5 crore in a pre-seed round led by Zeropearl VC. The round also saw participation from prominent angel investors including MyGate founders Vijay Arishetty, Abhishek Kumar, Shreyans Daga, and Rohit Jindal; UrbanVault founder Amal Mishra; and Alkendra Pratap Singh, Managing Director of Crescendo Industries Pvt. Ltd. and Director of KE Engineers Pvt. Ltd., among others. The fresh capital will be used to accelerate ONYA’s offline retail expansion across major Indian cities.
ONYA, short for “On You,” was founded on a simple idea: to create art that looks good On You. The inspiration came from a deeply personal moment when two people ready to begin their life together realized that the ring they loved was beyond reach. That experience sparked a mission to make beautifully designed and meaningful diamond jewellery accessible to everyone. Today, ONYA stands for crafting soulful lab-grown diamond pieces that mark life’s most cherished celebrations in every Indian home.
Within 11 months, ONYA has expanded to four profitable high-street stores in Bengaluru, achieving a monthly revenue run rate of ₹2 crore. The company has also strengthened its leadership team with the appointment of Gaurav Choudhary, former Director of Products at xto10x, who joins as Co-founder.

Himani Yadav, Founder of ONYA, said, “ONYA didn’t begin as a business idea — it began with a personal moment. My engagement ring was a lab-grown diamond long before the category became mainstream, and that experience made me realize how many people felt priced out of meaningful jewellery. ONYA was created to change that by bringing emotion, accessibility, and intention back into fine jewellery.
Being backed by Zeropearl VC at this stage — and by someone like Bipin, who brings a decade of deep consumer-brand investing experience, including in jewellery — adds immense value and clarity to our journey. The fact that ONYA fits naturally into Zeropearl VC’s Indiluxe thesis reinforces that we’re building in the right direction. This partnership gives us the confidence to take thoughtfully designed lab-grown diamonds to more homes across India.”
Bipin Shah, Founder and Managing Partner, Zeropearl VC, said At Zeropearl VC, we back founders who deeply understand the problem they’re solving — and Himani’s clarity stood out from day one. The ONYA team is already showing early signs of cracking an offline & Design first approach in premium lab-grown diamond space which strongly aligns with our Indiluxe thesis. Young India’s shift in how they view jewellery is undeniable, and ONYA is building right at that inflection point.

Their design focus and customer obsession give us strong confidence — and we see this as a gateway to expanding into more premium, next-gen consumer categories over time.” ONYA’s jewellery features IGI-certified lab-grown diamonds set in BIS Hallmarked gold, blending scientific precision with elegant design. With this investment, ONYA plans to expand its product lines, open more customer-first experience stores, and deepen its connection with India’s growing base of conscious luxury
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