India Jewellery Exposition Centre set-up in Dubai

Mumbai, May 10 (KNN) The Gem & Jewellery Export Promotion Council (GJEPC) has established the India Jewellery Exposition Centre (IJEX) in Dubai marking the first year of India-UAE CEPA.

It is a 365-day exhibition platform located at the new Gold Souk in Deira.

This will allow MSME jewellers to exhibit their indigenously products on a regular continuous basis on a platform in the Middle East market.

IJEX will enable India’s MSME manufacturers to take advantage of India-UAE CEPA to expand in the WANA region.

The West Asia market accounts for 30 per cent of India’s gem and jewellery exports.

Growing up from USD 72.9 billion in the previous year, the India-UAE trade has grown by 16 per cent to reach USD 84.5 billion in FY23.

Of this, India’s exports to the UAE grew by 11.8 per cent to USD 31.3 billion, with the gem and jewellery sector witnessing particularly an impressive surge of 16.54 per cent to USD 5.77 billion.

Rajesh Kumar Singh, Secretary, DPIIT, Ministry of Commerce & Industry, Government of India, said, “CEPA is one of the most ambitious pacts. The depth and range of market access and services it provides is unprecedented, benefitting all stakeholders. India’s exports to the UAE have exceeded USD 30 billion, with gems & jewellery and plastics deriving benefits from lower priced inputs.”

“GJEPC has set up IJEX and I see tremendous value in such initiatives. CEPA will accelerate business momentum and is expected to transform the scale and scope of bilateral partnerships,” he added.

Vipul Shah, Chairman, GJEPC said, “The Gems & Jewellery sector is among the industries that have gained significantly from CEPA. India’s exports in this sector have witnessed an impressive growth of 16.54 per cent to USD 5.77 billion in 2022-23 as compared to previous year.”

“I am sure the Indian jewellery industry would make the most of this opportunity and take the exports the gem and jewellery exports to the pre-COVID level of USD10 billion to the UAE very soon. With continued support and cooperation, we can take our bilateral trade relations to new heights and achieve greater success,” he said.  (KNN Bureau)