India’s Free Trade Agreements (FTAs) are creating a significant opportunity for the gems and jewellery sector, with FTA partner countries collectively importing more than US$55 billion-worth of jewellery annually while sourcing only around US$8 billion from India, according to Shri Saket Kumar, Joint Secretary, Department of Commerce, Government of India. Addressing a workshop on “Leveraging FTAs for the Gems & Jewellery Sector” in Jaipur on 9th June 2026, organised by the Department of Commerce in partnership with GJEPC, Shri Kumar said India has an untapped export opportunity of nearly US$47 billion across its FTA partner markets.
He noted that India’s recent FTAs are broader and more commercially meaningful than earlier agreements, offering enhanced market access, clearer rules and practical Rules of Origin provisions. The agreements have been designed through extensive consultations with industry stakeholders to ensure they deliver tangible benefits for exporters.
Highlighting the impact of the India-UAE CEPA, Shri Kumar said India’s gems and jewellery exports to the UAE have risen nearly 48% since the pact came into force, growing from US$5.8 billion in FY2022 to over US$8.6 billion in FY2026. Rajasthan has emerged as a major beneficiary, with its exports to the UAE increasing more than tenfold during the same period, from US$53 million in FY2022 to US$788 million in FY2026.
He also pointed to strong growth in exports to Australia following the implementation of the India-Australia ECTA, demonstrating how improved market access can drive export expansion even amid global economic uncertainties.
Shri Kumar said Rajasthan is particularly well positioned to benefit from India’s expanding FTA network, given its globally recognised expertise in coloured gemstones, silver jewellery and handcrafted products. The state accounts for 97% of India’s coloured gemstone exports and has a strong manufacturing base for silver and imitation jewellery.
However, he stressed that market access alone is not enough. Exporters must actively utilise FTA provisions, understand Rules of Origin requirements, strengthen compliance capabilities and invest in design and value addition to meet evolving consumer preferences in international markets.
“The Government has worked to open new doors through modern and commercially meaningful FTAs. The responsibility before us now is to ensure that these opportunities are fully utilised. India’s FTA partner countries collectively import over US$55 billion worth of jewellery annually. Yet, India’s exports to these markets are only around US$8 billion. This indicates an untapped export opportunity of nearly US$47 billion,” Shri Kumar said, urging exporters, manufacturers and MSMEs to explore new markets and diversify export destinations.
The workshop forms part of the Department of Commerce’s outreach programme aimed at improving awareness and utilisation of India’s FTAs among exporters and manufacturing clusters. Participants were briefed on tariff benefits, certification procedures, Rules of Origin requirements and opportunities arising from agreements with the UAE, Australia, the UK, EFTA countries, Oman, New Zealand and the European Union.