30% of UAE’s gems and jewellery sourced from India, says Export Promotion Council

According to GJEPC, the UAE currently imports gems and jewellery amounting to USD 3.12 billion from India

“The UAE imports a total of $10.48 billion worth of jewellery from around the world, and a significant portion, approximately 30%, is sourced from India,” Vipul Shah, the Chairman of Gem and Jewellery Export Promotion Council (GJEPC), has said.

The gem and jewellery trade between India and UAE has grown significantly, particularly following the India-UAE CEPA agreement. The UAE currently imports gems and jewellery amounting to $3.12 billion from India, GJEPC stated.

Shah made the remarks while addressing the third edition of the International Gem and Jewellery Show (IGJS) in Dubai on Tuesday. The show from October 10-12 is supported by the Ministry of Commerce and Industry, the Government of India, and the Embassy of India in UAE. Additionally, it is supported by Dubai Gold and Jewellery Group, while Suntech is the co-sponsor, and Sequel serves as the logistics partner.

IGJS Dubai has a global focus and is dedicated to offering top-quality Indian jewellery exclusively to international buyers. Tawhid Abdullah, the Chairman of Dubai Gold and Jewellery Group, said: “We are proud of the increase in bilateral gem and jewellery trade after the signing of the India-UAE CEPA. It’s a win-win situation.”

As part of the council’s commitment to strengthening trade relations with the UAE, GJEPC established the India Jewellery Exposition (IJEX) centre in Dubai which serves as a dedicated B2B platform and provides GJEPC members with the opportunity to exhibit their products and secure orders in the UAE market throughout the year.

Courtesy: retail.economictimes.indiatimes.com