India & EFTA ink TEPA to Triple G&J Exports
Eying to push G&J exports from US$335mn to US$ 1billion The Trade and Economic Partnership Agreement (TEPA) between India and European Free Trade Association (EFTA) has opened immense opportunities for Indian gem and jewellery (G&J) sector to enhance its exports to the untapped EFTA countries especially to Switzerland. EFTA countries have removed customs duties on the entire chapter 71 (Gem and Jewellery products) enabling Indian exporters of G&J to have a duty free access in all the EFTA countries - Switzerland, Iceland, Norway and Liechtenstein. Vipul Shah, Chairman, GJEPC said, “I extend my gratitude to the Government of India, particularly to Shri Piyush Goyal, Hon’ble Minister of Commerce & Industry, for incorporating GJEPC’s recommendations in the India-EFTA Trade and Economic Partnership Agreement (TEPA). The $100 bn bilateral trade pact has opened up immense opportunities for Indian gem and jewellery manufacturers to broaden their export prospects in t