A representative image of jewellery.
Credit: iStock photo
Mumbai: The India–UK Comprehensive Economic & Trade Agreement (CETA) is set to double India’s gem and jewellery exports to the United Kingdom to USD 2.5 billion within three years, creating over 140,000 new jobs and strengthening India’s position as a global leader in diamonds, gold, silver, and lab-grown stones.
The Gem & Jewellery Export Promotion Council (GJEPC), which represents India’s gem and jewellery sector, was present at the India-UK CEOs Forum, which was addressed by Prime Minister Narendra Modi and British Premier Keir Starmer at the sidelines of the Global Fintech Fest.
GJEPC Chairman Kirit Bhansali said that 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,” he added.
“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,” Bhansali pointed out.
“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,” he added.
The two-day forum focused on how the CETA, signed earlier this year, will reshape bilateral trade by removing tariffs on 99 per cent of Indian exports to the UK and 90 per cent of UK exports to India.