India–UK CETA News, Photo, Video and Current Affairs

Mumbai, India's financial capital and the country's premier hub for gem and jewellery exports, marked a historic milestone with the flagging off of the first jewellery export consignment to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement (CETA). The Mumbai flag-off forms part of a nationwide initiative being held across Delhi, Surat, Jaipur, Chennai and Kolkata, celebrating India's first jewellery exports to the UK under the landmark trade agreement. In Mumbai, the flag-off ceremonies were held at two key export hubs—PCCC Customs - Bharat Diamond Bourse (BDB) and SEEPZ-SEZ, reflecting the city's pivotal role in India's gem and jewellery exports. At PCCC Customs, the ceremony was attended by Mr. Santosh Kumar, Commissioner of Customs, Mumbai; Mr. Vishwajeet Chimankar, Deputy Director General of Foreign Trade (DGFT); and Shri Shaunak Parikh, Vice Chairman, GJEPC. Participating exporters included, Malabar Gold & Diamonds Pvt. Ltd., Shree Ramkrishna Exports, and Venkatesh Jewellers At SEEPZ-SEZ, the flag-off ceremony was held in the presence; Shri Dnyaneshwar Patil Development Commissioner, SEEPZ; of Shri Mayur R Mankar, Joint Development Commissioner, SEEPZ SEZ ; Shri Bharat Ghori, Co-Convener, MSME, GJEPC; Shri Vijay Gujarati, Vice President, SEEMA; and Mr. Adil Kotwal, President, SGJMA. Exporters participating from SEEPZ included Fine Jewellery, Kama Jewellery Pvt. Ltd., Suashish Diamonds Ltd., S. Vinodkumar Diamonds Pvt. Ltd., IDI Jewels (India) Manufacturing Pvt. Ltd., Goldstar Jewellery Pvt. Ltd. Unit III, Supergems Jewellery Mfg. Co. Pvt. Ltd., Zenstar Jewellery LLP and Steckbeck Jewelry. The India–UK CETA ushers in a new era for India's gem and jewellery industry by providing zero-duty access to the UK market from the day the agreement enters into force and eliminating UK import tariffs of up to 4%. The agreement gives Indian exporters a significant competitive advantage in the UK's US$4 billion jewellery import market, paving the way for enhanced exports, investment and employment. Mr. Santosh Kumar, Commissioner of Customs, Mumbai said, "The implementation of the India–UK Comprehensive Economic and Trade Agreement opens new opportunities for Indian exporters by improving their competitiveness in the UK market. Customs is committed to supporting this growth through faster clearances, reduced dwell time and seamless trade facilitation, ensuring exporters can fully leverage the benefits of the agreement." Shri Dnyaneshwar Patil, Development Commissioner, SEEPZ said, "Today is a moment of great happiness for the gem and jewellery industry as the India–UK Free Trade Agreement comes into effect. With the removal of the 4% import duty on Indian gems and jewellery in the UK, our exports will become significantly more competitive. This gives Indian manufacturers a clear advantage and will help us strengthen our position in the UK market. Our current exports to the UK are around ₹3,000 crore, and we expect this to grow to nearly ₹6,000 crore over time. The FTA will boost production, create new opportunities for exporters, and drive greater demand for Indian gems and jewellery. This is a landmark agreement that will greatly benefit our industry." Shri Kirit Bhansali, Chairman, GJEPC, said "Today marks a proud and defining moment for India's gem and jewellery industry as we flag off the first export consignment to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement. This is more than the movement of goods—it is the beginning of a new chapter in India's global trade journey. I sincerely thank Hon'ble Prime Minister Shri Narendra Modi and the Government of India for their visionary leadership in concluding this landmark agreement and for their unwavering support to our industry. The India–UK CETA eliminates UK import tariffs of up to 4%, providing Indian exporters with a significant competitive advantage in the UK's US$4 billion jewellery import market. With zero-duty access, we expect India's gem and jewellery exports to the UK to increase from around US$754 million to nearly US$2.5 billion over the next three years. This growth will create new opportunities for exporters, manufacturers, MSMEs, artisans and designers while further strengthening India's position as a global leader in craftsmanship, innovation and value-added jewellery manufacturing." Shri Shaunak Parikh, Vice Chairman, GJEPC, said "Mumbai has always been the gateway of India's gem and jewellery exports. Home to Bharat Diamond Bourse, SEEPZ and some of the country's leading exporters, the city has built a globally respected ecosystem for diamond trading, jewellery manufacturing and exports. The India–UK CETA provides zero-duty access to one of the world's most important jewellery markets and gives Indian exporters a significant competitive edge. We are confident that this landmark agreement will accelerate exports, encourage investment, create employment and further strengthen India's position as a preferred global sourcing destination for high-quality jewellery." The India–UK CETA is expected to deliver significant benefits to Maharashtra's gem and jewellery sector by improving market access, encouraging value-added manufacturing, generating employment, promoting skill development and strengthening the participation of MSMEs, artisans and exporters. Mumbai's robust ecosystem of diamond trading, jewellery manufacturing, exports and logistics positions the city to play a pivotal role in driving India's export growth under the landmark agreement. The flagging off of the first consignment underscores Mumbai's leadership in India's gem and jewellery exports and reflects the confidence of the industry's exporters in the opportunities created by the India–UK CETA. As Indian jewellery enters the UK market with zero-duty access for the first time, Mumbai's exporters and manufacturers are well positioned to lead the next phase of India's export growth and strengthen the country's presence in premium global jewellery markets.

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