The India-UAE FTA will strengthen business ties
FTA paves way for duty-free jewellery exports to UAE The FTA will fast-track India’s goal of reaching $52 billion in exports of gems and jewellery by 2022-23 The Gem & Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, applauded the historical FTA between India-UAE. GJEPC was one of the stakeholders who was closely associated with the Government, suggesting its recommendations and suggestions for the Indian gem & jewellery industry. UAE accounts for 80% of India’s plain gold jewellery exports and 20% of studded jewellery exports. Talking about the FTA, Colin Shah, Chairman, GJEPC, said, “The India-UAE FTA will strengthen business ties with one of the biggest buyers of Indian jewellery. This bold vision of Hon'ble Prime Minister Narendra Modi will transform India’s economic relations with the entire Gulf region and beyond, and will also reinvigorate Indian plain gold and studded jewellery ...