Zero-duty access under the India-EU Free Trade Agreement could help double the bilateral gems and jewellery trade to USD 10 billion (around Rs 91,000 crore)over the next three years, the Gem and Jewellery Export Promotion Council (GJEPC) said on Tuesday.
This removes 2-4 per cent duties on precious jewellery, unleashing huge export potential with the 27-member EU countries, home to the world’s elite buyers.
“The India-EU FTA will supercharge market diversification for the gem and jewellery industry. This transformative pact aims to double bilateral trade to Rs 91,000 crore within three years.
“Zero-duty access to the world’s largest consumer market empowers export hubs in Gujarat, Rajasthan, Maharashtra, and West Bengal to ramp up shipments of precious jewellery (plain and studded), silver, and imitation jewellery, capitalising on India’s renowned design prowess,” GJEPC chairman Kirit Bhansali said.
The European Union and India on Tuesday announced the conclusion of negotiations fo​Zero-duty access under the India-EU Free Trade Agreement could help double the bilateral gems and jewellery trade to USD 10 billion (around Rs 91,000 crore)over the next three years, the Gem and Jewellery Export Promotion Council (GJEPC) said on Tuesday.
This removes 2-4 per cent duties on precious jewellery, unleashing huge export potential with the 27-member EU countries, home to the world’s elite buyers.
“The India-EU FTA will supercharge market diversification for the gem and jewellery industry. This transformative pact aims to double bilateral trade to Rs 91,000 crore within three years.
“Zero-duty access to the world’s largest consumer market empowers export hubs in Gujarat, Rajasthan, Maharashtra, and West Bengal to ramp up shipments of precious jewellery (plain and studded), silver, and imitation jewellery, capitalising on India’s renowned design prowess,” GJEPC chairman Kirit Bhansali said.
The European Union and India on Tuesday announced the conclusion of negotiations fo ​Latest News [ SOBAN NEWS: International and National ]
