Dubai, UAE – The gem and jewelry trade between India and the United Arab Emirates (UAE) has seen substantial growth, thanks in part to the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
India’s Gem and Jewelry Export Promotion Council (GJEPC) reported that approximately 30% of the gems and jewelry imported by the UAE originate from India.
According to GJEPC, the UAE’s jewelry imports from India amount to $3.12 billion out of the total $10.48 billion from various parts of the world.
Vipul Shah, Chairman of the Gem and Jewelry Export Promotion Council, made this revelation during his address at the third edition of the International Gem and Jewelry Show (IGJS) in Dubai, which took place from October 10 to 12.
The event garnered support from the commerce ministry of the Government of India, as well as the Embassy of India in the UAE. The Dubai Gold and Jewelry Group, Suntech, and Sequel also lent their support to the show, making it a thriving platform for the gem and jewelry industry.