The gem and jewellery trade between India and the UAE has witnessed substantial growth, particularly after the implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), with approximately 30% of the total gems and jewellery imported by the emirate sourced from India, as reported by the Gem and Jewellery Export Promotion Council (GJEPC). The UAE presently imports gems and jewellery worth USD 3.12 billion from India.
Speaking at the third edition of the International Gem and Jewellery Show (IGJS) in Dubai, Vipul Shah, Chairman of GJEPC, highlighted that the UAE imports a total of USD 10.48 billion worth of jewellery globally, with a significant share, around 30%, originating from India.
The IGJS show, held from October 10-12 and supported by the Ministry of Commerce and Industry, Government of India, and the Embassy of India in the UAE, witnessed a record-breaking attendance of 500 buyers from 32 countries. The event, backed by the Dubai Gold and Jewellery Group and co-sponsored by Suntech, showcased 45 exhibitors with product categories including diamond and gemstone-studded jewellery and gold jewellery at over 50 booths.
Tawhid Abdullah, Chairman of Dubai Gold and Jewellery Group, expressed pride in the increased bilateral gem and jewellery trade following the India-UAE CEPA, considering it a win-win situation. He encouraged the GJEPC to organize larger exhibitions, urging the inclusion of a more diverse set of jewellers from different parts of India in the Dubai show.
To strengthen trade relations with the UAE, the GJEPC established the India Jewellery Exposition (IJEX) centre in Dubai, serving as a dedicated B2B platform. This center provides GJEPC members with the opportunity to exhibit their products and secure orders in the UAE market throughout the year.
