Mumbai, India’s premier hub for gem and jewellery exports, flagged off the first jewellery export consignment to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement (CETA).
The Mumbai flag-off was part of a nationwide initiative held across Delhi, Surat, Jaipur, Chennai and Kolkata to mark India’s first jewellery exports to the UK under the landmark trade agreement.
Zero-duty access
The India–UK CETA ushers in a new phase for India’s gem and jewellery industry by providing zero-duty access to the UK market from the day the agreement comes into force.
The agreement removes UK import tariffs of up to 4%, giving Indian exporters a competitive advantage in the UK’s $4-billion jewellery import market.
It is expected to boost exports, attract investments and generate employment across the sector.
Faster trade
Mumbai Commissioner of Customs Santosh Kumar said, “The implementation of the India–UK Comprehensive Economic and Trade Agreement opens new opportunities for Indian exporters by improving their competitiveness in the UK market.
Customs is committed to supporting this growth through faster clearances, reduced dwell time and seamless trade facilitation, ensuring exporters can fully leverage the benefits of the agreement.”
FTA to boost production
SEEPZ Development Commissioner Dnyaneshwar Patil, said, “Our current exports to the UK are around ₹3,000 crore, and we expect this to grow to nearly ₹6,000 crore over time. The FTA will boost production, create new opportunities for exporters, and drive greater demand for Indian gems and jewellery.”
Export outlook
GJEPC Chairman Kirit Bhansali said “With zero-duty access, we expect India’s gem and jewellery exports to the UK to increase from around $754 million to nearly $2.5 billion over the next three years.”
GJEPC Vice Chairman Shaunak Parikh said “Mumbai has always been the gateway of India’s gem and jewellery exports. The India–UK CETA gives Indian exporters a significant competitive edge.”
Industry background
The Gem & Jewellery Export Promotion Council (GJEPC) is the apex body representing India’s gem and jewellery export industry. The sector is among the country’s largest foreign exchange earners and contributes significantly to employment, manufacturing and exports.
As Indian jewellery enters the UK market with zero-duty access for the first time, exporters are expected to strengthen their presence in premium global markets and accelerate the industry’s long-term growth.