GJEPC has intensified its European market expansion strategy by joining the high-level Indian business delegation led by Hon’ble Union Minister of Commerce & Industry Shri Piyush Goyal to the United Kingdom (25-27 June) and Greece (29-30 June).
The multi-country mission focused on strengthening trade partnerships, addressing market access barriers and creating new opportunities for Indian jewellery exporters across Europe, spanning one of the world’s largest jewellery markets and an emerging gateway to Southern Europe.
The UK leg of the visit centred on leveraging the recently concluded India-UK Comprehensive Economic and Trade Agreement (CETA). Shaunak Parikh, Vice Chairman, GJEPC, represented the Council during the business engagements, advocating measures to strengthen India’s competitiveness in the UK, home to a US$17.5 billion jewellery market and one of the world’s largest destinations for luxury and bridal jewellery.
Shaunak Parikh, Vice Chairman, GJEPC, said, “I am honoured to be part of the business delegation accompanying Hon’ble Commerce & Industry Minister Shri Piyush Goyal to the UK at this significant milestone in the India-UK economic partnership. The India-UK FTA is far more than a tariff agreement—it is a growth agreement. It gives Indian jewellers a stronger foothold in a premium global market and enhances the competitiveness of ‘Made in India’ jewellery. With improved market access and a level playing field, we expect exports to the UK to rise to around USD 2.5 billion and bilateral gem and jewellery trade to touch nearly USD 7 billion, creating new opportunities for manufacturing, value addition and employment across India’s jewellery clusters.”
GJEPC used the platform to advocate for India’s accession to the Vienna Convention on Hallmarking, a move that would enable international recognition of BIS hallmarking and eliminate the need for costly re-assaying and re-hallmarking of Indian jewellery exports. The Council believes the reform would reduce compliance costs, shorten turnaround times and enhance the competitiveness of Indian exporters, particularly MSMEs.
Beyond trade policy, the delegation engaged with British businesses through sectoral roundtables, corporate meetings and networking sessions covering consumer goods, advanced manufacturing, technology, logistics and services, reflecting the broadening scope of India’s commercial engagement with the UK.
From London, the delegation travelled to Athens, where GJEPC shifted its focus towards developing Greece as a strategic gateway to Southern Europe. While India’s gem and jewellery exports to Greece currently stand at US$1.65 million, the Council sees significant headroom for growth given the country’s strategic location, maritime connectivity and access to the wider European Union market.
The programme included meetings with Fokion Karavias, CEO of Eurobank, government officials and industry leaders to strengthen bilateral investment and commercial cooperation. A key highlight was the India-Greece Business Forum organised by the Athens Chamber of Commerce and Industry, where Shri Ravi Shankar, Ambassador of India to Greece, addressed delegates alongside senior government and business leaders from both countries. During the parallel sectoral discussions, Shaunak Parikh represented India’s gem and jewellery industry, highlighting opportunities to deepen trade ties and position Greece as a strategic gateway to Southern Europe. The discussions covered digitalisation, trade, infrastructure, defence and gem & jewellery, reflecting the growing scope of the India-Greece economic partnership.
The mission also brought together senior executives from across Indian industry, including Sanjay Tugnait, President & CEO, Fairfax Digital Services, underlining the government’s whole-of-industry approach to expanding commercial engagement with Europe.
With a population of 10.3 million and total merchandise imports of around US$93 billion, Greece offers Indian exporters access to a sophisticated European economy while serving as a strategic entry point into Southern Europe. GJEPC’s internal market assessment identifies the country as an underpenetrated market where focused business-to-business engagement can unlock long-term export opportunities for Indian jewellery manufacturers.
The visit also comes at a time of rapidly strengthening India-Greece ties. Since the two countries elevated their relationship to a Strategic Partnership in 2023, cooperation has expanded across trade, investment, defence, digital technologies and innovation. The establishment of the India-Greece Business Council in 2025 has further created an institutional platform to drive sustained industry engagement.