India–UK gem and jewellery trade News, Photo, Video and Current Affairs

The implementation of the landmark India–UK Free Trade Agreement (FTA) on 15 July 2026 marks a transformative milestone for India's gem and jewellery industry, opening the door to significantly greater market access, enhanced competitiveness and accelerated bilateral trade with one of its key export markets. With zero-duty access for nearly 99% of Indian exports to the UK, the agreement is expected to unlock substantial growth opportunities for Indian manufacturers, exporters, MSMEs and skilled artisans. The FTA is expected to reshape India–UK gem and jewellery trade by improving the price competitiveness of Indian products across categories including diamond jewellery, coloured gemstone jewellery, silver jewellery and lab-grown diamond jewellery. GJEPC estimates that India's gem and jewellery exports to the UK could more than triple from current levels to USD 2.5 billion over the coming years, helping propel bilateral trade in the sector towards the USD 7 billion milestone. To help the industry capitalise on these opportunities from the outset, the Gem & Jewellery Export Promotion Council (GJEPC) has organised the second edition of the India–UK Buyer-Seller Meet (BSM) 2026, being held on 7–8 July 2026 at Emirates Arsenal Stadium, London. Strategically timed ahead of the implementation of the India–UK Free Trade Agreement, the two-day event has brought together Indian exporters and leading UK buyers to forge commercial partnerships, gain insights into evolving consumer preferences and accelerate business opportunities under the new trade framework. The event was inaugurated by Ms. Nidhi Mani Tripathi, Hon'ble Minister (Economic), High Commission of India, London, in the presence of Mr. Kirit Bhansali, Chairman, GJEPC, Mr. Mehdi Saadian – Chair, National Association of Jewellers (NAJ), Ms. Katie Cottham, Buying & Merchandising Manager, H&T Group plc (UK); and Mr. Will Evans, Director (Assay Master), London Assay Office, UK alongside key industry stakeholders. Ms. Nidhi Mani Tripathi, Hon'ble Minister (Economic), High Commission of India, London, said, "The India–UK Free Trade Agreement marks a transformative milestone in our economic partnership. As the Agreement comes into effect on 15 July, platforms such as the India–UK Buyer-Seller Meet will play a vital role in fostering business collaborations and unlocking new opportunities. With bilateral trade currently at around US$56 billion, we look forward to expanding this partnership to US$120 billion by 2030-31.” Speaking about the opportunities for the gem and jewellery sector, Mr. Kirit Bhansali, Chairman, GJEPC, said, "The implementation of the India–UK CETA presents a significant competitive advantage for India's gem and jewellery industry. Duty-free access to the UK market from 15 July will enhance the attractiveness of Indian products and create new opportunities across key product segments. We are confident of increasing India's gem and jewellery exports to the UK from the current US$754 million to around US$2.5 billion over the next few years, while contributing to the growth of bilateral trade in the sector to nearly US$7 billion." Mr. Vijay Mangukiya, Convener, International Exhibitions, GJEPC, said, "The India–UK Buyer-Seller Meet is part of GJEPC's broader strategy to deepen commercial engagement between the two countries ahead of the implementation of the India–UK CETA. Beyond facilitating direct business interactions through this platform, GJEPC will further strengthen India's presence in the UK market through the India Pavilion at Jewellery Show London this September. We are also working closely with our UK partners to bring buyer delegations to IIJS Bhart Premiere and the International Gem & Jewellery Show (IGJS) in Jaipur, creating sustained opportunities for business, sourcing and long-term partnerships across both markets." The two-day Buyer-Seller Meet features 20 leading Indian manufacturers showcasing a diverse range of diamond-studded jewellery, coloured gemstone jewellery, silver jewellery and lab-grown diamond jewellery. They are engaging with more than 50 prominent UK buyers, including retail chains, wholesalers and independent retailers, providing a platform to translate the opportunities created by the FTA into long-term commercial partnerships. India's gem and jewellery trade with the UK has already demonstrated strong momentum. In 2025, India's exports to the UK stood at approximately USD 754 million, while imports from the UK reached around USD 3.07 billion, taking total bilateral trade in the sector to USD 3.83 billion. The FTA is expected to further strengthen these trade flows by reducing costs, improving ease of market access and encouraging deeper sourcing partnerships between businesses in both countries. As the industry enters a new phase of enhanced market access and trade facilitation, GJEPC will continue to support exporters through dedicated buyer engagement platforms, capacity-building programmes, webinars and expert-led awareness initiatives to help members maximise the opportunities created by the India–UK FTA and strengthen India's position as a preferred global sourcing destination for gems and jewellery.

Tag: India–UK gem and jewellery trade

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