India-UK FTA Sparks New Growth Era for Gem & Jewellery Exports

SURAT : India’s gem and jewellery industry is set for a major export boom as the landmark India-UK Free Trade Agreement (FTA) comes into force on July 15, 2026. With zero-duty access for nearly 99% of Indian exports to the UK, the agreement is expected to significantly boost competitiveness, open new markets and create fresh opportunities for exporters, MSMEs and skilled artisans.

The Gem & Jewellery Export Promotion Council (GJEPC) estimates that India’s gem and jewellery exports to the UK could more than triple from the current USD 754 million to USD 2.5 billion in the coming years, while bilateral trade in the sector is projected to reach USD 7 billion.

To help Indian exporters seize the opportunity, GJEPC organised the India-UK Buyer-Seller Meet 2026 in London on July 7-8, just days before the FTA takes effect. The event brought together 20 leading Indian manufacturers and more than 50 prominent UK buyers, including retail chains, wholesalers and independent retailers.

Inaugurating the event, Nidhi Mani Tripathi, Minister (Economic) at the High Commission of India in London, highlighted the broader significance of the agreement.

“The India-UK Free Trade Agreement marks a transformative milestone in our economic partnership. We look forward to expanding bilateral trade from around USD 56 billion to USD 120 billion by 2030-31,” she said.

GJEPC Chairman Kirit Bhansali said the agreement would provide Indian exporters with a decisive competitive edge in the UK market.

“Duty-free access from July 15 will enhance the attractiveness of Indian diamond jewellery, coloured gemstones, silver jewellery and lab-grown diamond jewellery. We are confident exports to the UK will grow to around USD 2.5 billion over the next few years,” Bhansali said.

GJEPC’s Convener of International Exhibitions, Vijay Mangukiya, said the council would continue strengthening India’s presence in the UK through trade exhibitions, buyer delegations and dedicated sourcing platforms, including the India Pavilion at Jewellery Show London and IIJS Premiere.

With lower trade barriers, improved market access and stronger business partnerships, the India-UK FTA is expected to usher in a new chapter for India’s gem and jewellery industry, reinforcing the country’s position as one of the world’s leading sourcing destinations.