Will India's Gem & Jewellery Exports to the UK Double in Three Years?
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Synopsis
Exciting forecasts suggest that India's gem & jewellery exports to the UK could soar to $2.5 billion within three years, following the landmark Free Trade Agreement. This growth promise not only enhances trade but is also set to create over 140,000 jobs, significantly impacting the industry and its artisans. Discover how this partnership will reshape the future!
Key Takeaways
- Projected growth: India's gem & jewellery exports to the UK expected to exceed $2.5 billion.
- Job creation: Over 140,000 new jobs anticipated due to the FTA.
- Strengthened leadership: Reinforces India's status in the global gem and jewellery market.
- Tariff reductions: CETA removes tariffs on 99% of Indian exports to the UK.
- Collaboration opportunities: Enhanced market access and partnerships with UK retailers.
Mumbai, Oct 9 (NationPress) India's gem & jewellery exports to the UK are projected to exceed $2.5 billion in just three years, thanks to the India-UK Free Trade Agreement, stated Kirit Bhansali, Chairman of the Gem and Jewellery Export Promotion Council, on Thursday.
During the CEOs forum at the India-UK meet, Bhansali remarked: "This collaboration will not only enhance trade but also create over 140,000 new jobs, directly benefiting artisans, manufacturers, and exporters across all major segments."
He emphasized that the FTA signifies a crucial turning point for the Indian gem and jewellery industry, unveiling vast growth prospects and strengthening its global leadership.
This agreement fortifies India’s status as a global leader in diamonds, gold, silver, and lab-grown stones, facilitating deeper market access and partnerships with UK retailers. GJEPC is dedicated to utilizing this historic agreement to foster innovation, employment, and sustainable growth for the industry and the millions reliant on it, Bhansali added.
As tariff barriers diminish and market access broadens, the UK presents considerable potential for export growth, design collaboration, and technology-driven value addition. The CETA is expected to enhance this trend and position India’s gem and jewellery sector for an even more significant role in shaping the future of India–UK trade relations, according to a GJEPC statement.
The two-day CEOs forum concentrated on how the CETA, signed in May this year, will transform bilateral trade by abolishing tariffs on 99% of Indian exports to the UK and 90% of UK exports to India.
The forum was co-chaired by Sunil Bharti Mittal, founder and Chairman of Bharti Enterprises, and Bill Winters, Chief Executive of Standard Chartered Group, with senior government officials, including Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), addressing participants in the opening session.
Moreover, the UK India Business Council (UKIBC) applauded the successful conclusion of UK Prime Minister Keir Starmer’s visit to India, which led to major announcements including £1.3 billion in new Indian investments into the UK and agreements to expand British university campuses in India.
Additionally, the UKIBC highlighted other significant announcements in the joint statement of the two Prime Ministers, which include the creation of the India-UK Connectivity and Innovation Centre and the establishment of the India-UK Joint Centre for AI, along with enhanced cooperation on AI, clean energy, and advanced manufacturing, as well as new connectivity links between both nations.
Point of View
It’s imperative to recognize the profound implications of the India-UK Free Trade Agreement on the gem and jewellery sector. This historic deal not only positions India as a leader in the global market but also promises substantial job creation and innovation. It’s a significant step forward in enhancing bilateral trade relations, and the nation must leverage this opportunity for sustainable growth.
NationPress
10/10/2025
Frequently Asked Questions
What is the projected growth of India's gem & jewellery exports to the UK?
India's gem & jewellery exports to the UK are expected to exceed $2.5 billion within three years following the India-UK Free Trade Agreement.
How many jobs will the trade agreement create?
The agreement is projected to generate over 140,000 new jobs, benefiting artisans, manufacturers, and exporters.
What does the Free Trade Agreement entail for the gem and jewellery sector?
The FTA will unlock growth opportunities, enhance market access, and strengthen India's global leadership in diamonds, gold, silver, and lab-grown stones.
What are the key benefits of the CETA?
The CETA will remove tariffs on 99% of Indian exports to the UK and 90% of UK exports to India, promoting significant trade growth.
What is the significance of the CEOs forum?
The CEOs forum focuses on shaping bilateral trade relations and discussing the impacts of the recently signed CETA.
