National News
New Personal Carriage Facility by Kolkata Customs Set to Boost Gems & Jewellery Export Efficiency
In a significant step to promote exports from Eastern India, the Office of the Principal Chief Commissioner of Customs, Kolkata Zone, has launched a new personal carriage facility for the export of gems and jewellery through Kolkata Port. The initiative is designed to streamline trade operations and enhance the ease of doing business in the region.
Unveiled during an official launch event, the new facility allows exporters to hand-carry gems and jewellery abroad for exhibitions, promotional activities, and trade purposes. Customs officials presented comprehensive guidelines and procedural details to help stakeholders take full advantage of the facility.
Shri S.H. Dange, IRS, Principal Chief Commissioner of Customs, Kolkata Zone, urged exporters to make use of this progressive measure, highlighting its potential to support the growth of the gems and jewellery (G&J) sector.
The event drew participation from key industry stakeholders, including the Gem & Jewellery Export Promotion Council (GJEPC), represented by Shri Pankaj Parekh, Eastern Regional Chairman, along with Regional Committee Members and senior officials.
Leading jewellery brands such as M/s. Sabyasachi Calcutta LLP, M/s. Hasmukh Parekh Jewellers, and M/s. Modern Impex were present and welcomed the initiative, noting its value for international brand promotion and export facilitation.
National News
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
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’.
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.
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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)
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