India-EU FTA: Unlocking New Horizons for Gem and Jewellery Trade

The India-EU Free Trade Agreement (FTA) offers zero-duty access for gems and jewellery, poised to double trade to USD 10 billion in three years. By eliminating 2-4% duties, it empowers Indian exporters, enhancing market diversification and competitiveness amid declining exports to the US.

The India-European Union (EU) Free Trade Agreement is set to revolutionize the gem and jewellery trade, potentially doubling its value to USD 10 billion within three years, the Gem and Jewellery Export Promotion Council (GJEPC) announced.

By eliminating the 2-4% duties on precious jewellery, the agreement unlocks substantial export potential across the EU's 27 member countries, attracting the world's elite buyers. This strategic deal aims to bolster India's declining exports to other markets, particularly the US.

According to GJEPC Chairman Kirit Bhansali, zero-duty access amplifies India's market diversification and competitiveness, allowing Indian exporters to leverage their design and manufacturing expertise. This comes at a time when metal prices are high, and global trade dynamics are shifting, providing new opportunities for growth and brand expansion across Europe.