The FTA is expected to strengthen trade flows by reducing costs, improving ease of market access and encouraging deeper sourcing partnerships between businesses in both countries
London: The rollout of the landmark India-UK Free Trade Agreement (FTA) on July 15, 2026 is expected to be a transformative milestone for India’s gem and jewellery industry, opening the door to significantly greater market access, enhanced competitiveness and accelerated bilateral trade with one of its key export markets. With zero-duty access for nearly 99% of Indian exports to the United Kingdom, the agreement is expected to unlock substantial growth opportunities for Indian manufacturers, exporters, MSMEs and skilled artisans.
The FTA is expected to reshape India-UK gem and jewellery trade by improving the price competitiveness of Indian products across categories including diamond jewellery, coloured gemstone jewellery, silver jewellery and lab-grown diamond jewellery. The Gem and Jewellery Export Promotion Council (GJEPC) estimates that India’s gem and jewellery exports to the UK could more than triple from current levels to $2.5 billion over the coming years, helping propel bilateral trade in the sector towards the $7 billion milestone.
To help the industry capitalize on these opportunities from the outset, the GJEPC organized the second edition of the India-UK Buyer-Seller Meet (BSM) 2026 in London. Strategically timed ahead of the implementation of the India-UK FTA, the two-day event brought together Indian exporters and leading UK buyers to forge commercial partnerships, gain insights into evolving consumer preferences and accelerate business opportunities under the new trade framework.
The event was inaugurated by Nidhi Mani Tripathi, Minister (Economic), High Commission of India, London, in the presence of Kirit Bhansali, Chairman, GJEPC; Mehdi Saadian, Chair, National Association of Jewellers (NAJ); Katie Cottham, Buying & Merchandising Manager, H&T Group plc (UK); and Will Evans, Director (Assay Master), London Assay Office, UK alongside key industry stakeholders.
Nidhi Mani Tripathi, Minister (Economic), High Commission of India, London, said, “The India-UK Free Trade Agreement marks a transformative milestone in our economic partnership. As the Agreement comes into effect on July 15, platforms such as the India-UK Buyer-Seller Meet will play a vital role in fostering business collaborations and unlocking new opportunities. With bilateral trade currently at around $56 billion, we look forward to expanding this partnership to $120 billion by 2030-31.”
Speaking about the opportunities for the gem and jewellery sector, Kirit Bhansali, Chairman, GJEPC, said, “Implementation of the India-UK FTA presents a significant competitive advantage for India’s gem and jewellery industry. Duty-free access to the UK market from July 15 will enhance the attractiveness of Indian products and create new opportunities across key product segments. We are confident of increasing India’s gem and jewellery exports to the UK from the current $754 million to around $2.5 billion over the next few years, while contributing to the growth of bilateral trade in the sector to nearly $7 billion.”
Vijay Mangukiya, Convener, International Exhibitions, GJEPC, said, “The India-UK Buyer-Seller Meet is part of GJEPC’s broader strategy to deepen commercial engagement between the two countries ahead of the implementation of the India-UK FTA. Beyond facilitating direct business interactions through this platform, GJEPC will further strengthen India’s presence in the UK market through the India Pavilion at Jewellery Show London this September. We are also working closely with our UK partners to bring buyer delegations to IIJS Bharat Premiere and the International Gem & Jewellery Show (IGJS) in Jaipur, creating sustained opportunities for business, sourcing and long-term partnerships across both markets.”
India’s gem and jewellery trade with the UK has already demonstrated strong momentum. In 2025, India’s exports to the UK stood at approximately $754 million, while imports from the UK reached around $3.07 billion, taking total bilateral trade in the sector to $3.83 billion. The FTA is expected to further strengthen these trade flows by reducing costs, improving ease of market access and encouraging deeper sourcing partnerships between businesses in both countries.
As the industry enters a new phase of enhanced market access and trade facilitation, GJEPC will continue to strengthen India’s position as a preferred global sourcing destination for gems and jewellery.
The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India in 1966, is an apex body of the gems & jewellery industry, mandated with accelerating exports in the sector. It represents 10,900+ members in the Indian jewellery industry.
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