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Emirates-owned Transguard seals deal with GJEPC to securely transport diamonds, jewellery between India and Dubai

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Through Transguard’s arrangement with Dubai Customs, duty and VAT will be collected only on sold items at the end of exhibitions at IJEX

Transguard, a part of the Emirates Group, has signed an exclusive deal with the Gem and Jewellery Export Promotion Council of India (GJEPC), according to which it will provide end-to-end logistics support – from round-the-clock transportation and door-to-door services to vault management and safe storage of diamonds and jewellery- between India and Dubai. Transguard securely transports billions of dollars’ worth of gems, jewellery, cash and other valuables annually.

GJEPC has set up its first international office, the India Jewellery Exposition (IJEX) centre, at the Gold Souk in Deira, Dubai. Its members will use the space to exhibit and showcase gems and jewellery from India. Transguard will ensure secure logistics and management, including the safe check-in and check-out process of gems and jewellery.

Transguard will fully insure all exhibitors’ products stored in the vault as part of the agreement. The team is expected to handle diamonds, jewellery and gems worth around Rs 225 crore this year, with exponential growth predicted in the next three years as trade between India and Dubai continues to boom. India’s gems and jewellery exports to the UAE grew by a whopping 16.54% to $5.77 billion in 2022-23.

Exhibitors visiting Dubai can expect a customs process. Through Transguard’s arrangement with Dubai Customs, duty and VAT will be collected only on sold items at the end of exhibitions.

Rabie Atie, senior vice president, Transguard, said, “We have built a robust reputation for providing efficient, risk-free, safe and secure services that lead to a stress-free customer experience. We’re extremely proud to be involved with the first shipment arriving in Dubai under the CEPA agreement. Our partnership with GJEPC is a bellwether of the growing India-UAE trade ties, further boosting both economies.”

Sabyasachi Ray, executive director, Gem & Jewellery Export Promotion Council of India, said, “We were seeking a strong and dependable partner in Dubai to offer the logistics services to our members exhibiting at the India Jewellery Exposition (IJEX) Centre. Transguard was the obvious choice, being a Dubai Government entity renowned in the UAE, as a reliable provider of business support and outsourcing services.

“The IJEX Centre is a crucial initiative that seeks to capitalise on the advantages of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE. The pact has opened numerous prospects to enhance trade between the two nations. It has especially been highly beneficial for the Indian jewellery sector, resulting in a multi-fold increase in plain gold jewellery exports to the Middle East. By teaming up with Transguard, IJEX aims to ensure our members have complete confidence in the logistics support process.”

Courtesy: Khaleej Times

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