CEPA deal boosts India’s gold jewellery exports to UAE
New Delhi, July 14 (KNN) With the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in May India’s gold jewellery exports to UAE has shown a positive result.
According to the Gem and Jewellery Export Promotion Council (GJEPC), India’s exports of plain gold jewellery to UAE witnessed a growth of 72 per cent to Rs 1,048.40 crore in May 2022 and 68.65 per cent to Rs 1,451.58 crore in June 2022 as compared to the same month in 2021, respectively.
Besides, total gem and jewellery exports to UAE from April to June witnessed a growth of 10.09 per cent to Rs 9,802.72 crore as compared to the same period last year.
The export council said that during the period of April to June 2022 apart from UAE demand for gems and jewellery also remained strong from key markets like the US, Hong Kong, Belgium, and Israel.
Thanking the Ministry of Commerce & Industry for supporting the industry with a transformative policy, Colin Shah, Chairman of the council said, “Plain gold jewellery exports have been the immediate beneficiary of the India-UAE CEPA.”
He urge all exporters to maximise their returns and make optimum use of the benefits available through this pact.
For the month of June 2022, India’s overall gross exports of gems and jewellery witnessed a growth of 21.41 per cent to Rs 25,295.69 crore as compared to Rs 20,835.57 crore in June 2021. (KNN Bureau)