India–UK FTA to Propel Gem & Jewellery Exports to USD 2.5 Billion: GJEPC Chairman

Surat, Gujarat – The India–UK Free Trade Agreement (FTA) has ushered in a new era of growth and opportunity for the Indian gem and jewellery sector, with exports projected to rise from the current $941 million to an impressive $2.5 billion in the next three years. This significant development was welcomed by Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), who called it a “transformative milestone” achieved under the visionary leadership of Prime Minister Narendra Modi.

Bhansali, who was part of the Indian business delegation present during the historic signing, said, “It was an immense privilege to witness this momentous occasion. This landmark accord unlocks exciting new opportunities for our sector and strengthens our trade relationship with the UK.”

The FTA is expected to elevate bilateral trade in the gem and jewellery sector to an estimated $7 billion. With duty concessions now in place, Indian exporters will enjoy greater market access and competitiveness in the UK, one of the world’s most lucrative jewellery markets.

Kirit Bhansali also presented a commemorative book titled Gem of a Partnership to PM Modi, showcasing the deep-rooted trade ties and immense potential of the India–UK gem and jewellery relationship.

“The recent FTAs, including this one, are being forged with key consumer markets, offering our sector strategic focus and priority. It was a matter of pride to represent the industry and showcase our craftsmanship on a global stage,” Bhansali added.

At the UK–India Reception, Bhansali highlighted the Indian Crafts Reimagined jewellery collection, which captivated audiences with its homage to India’s rich design heritage. The collection drew inspiration from traditional Indian arts like filigree, Meenakari, Kashmiri architecture, Warli, and enamelling.

The GJEPC sees the FTA as a step forward in aligning with the Prime Minister’s ‘Design in India’ vision, empowering artisans and boosting the country’s global brand.