The India-UK Free Trade Agreement (FTA) is set to propel India’s gems and jewellery exports to the UK from $941 million to $2.5 billion within three years, the Gem and Jewellery Export Promotion Council (GJEPC) announced. 

“This landmark accord unlocks exciting opportunities for the gems and jewellery sector,” said GJEPC Chairman Kirit Bhansali, noting that duty concessions will boost competitiveness. The agreement, eliminating tariffs on 99% of Indian exports, is expected to elevate bilateral trade in the sector to $7 billion, aligning with the broader goal of adding £25.5 billion to India-UK trade by 2040.

India, a global leader in diamond processing with $17.83 billion in jewellery exports in FY24, sees the UK as its fourth-largest market. Posts on X highlight enthusiasm among artisans, with some urging skill development to meet UK demand, reinforcing the FTA’s potential to empower India’s 4.5 million-strong jewellery workforce.

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