{"id":14624,"date":"2022-03-28T15:02:22","date_gmt":"2022-03-28T09:32:22","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=14624"},"modified":"2022-03-28T15:02:28","modified_gmt":"2022-03-28T09:32:28","slug":"indias-jewellery-exports-to-surge-usd-10-billion-annually-to-uae-with-0-duty-gjepc","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/indias-jewellery-exports-to-surge-usd-10-billion-annually-to-uae-with-0-duty-gjepc\/","title":{"rendered":"India\u2019s Jewellery Exports To Surge USD 10 billion Annually To UAE With 0% Duty: GJEPC"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li>Gold import up to 120 tonnes allowed @ 1% duty in first year from UAE<\/li><li>India-UAE CEPA will fast-track India\u2019s goal of reaching $50 billion in exports of gems and jewellery by 2022-23.\u201d<\/li><\/ul>\n\n\n\n<p>The Gem &amp; Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, applauded the historical India-UAE Comprehensive Economic Partnership Agreement (CEPA), as the sector will be benefited the most by this strategic pact.<\/p>\n\n\n\n<p>Import duty on Jewellery exported to UAE from India is reduced from 5 to 0%.<\/p>\n\n\n\n<p>And import into India from UAE upto 120 tonnes of gold will be allowed at 1% duty less than the applicable duty in the 1<sup>st<\/sup> year and will increase to 200 tonnes in 5 years.<\/p>\n\n\n\n<p><strong>Talking about the India-UAE CEPA, Colin Shah, Chairman, GJEPC<\/strong>,said, \u201cThe Indo-UAE CEPA will strengthen business ties with one of the biggest buyers of Indian jewellery. This bold vision of <strong>Hon&#8217;ble Prime Minister Shri Narendra Modi<\/strong> will transform India\u2019s economic relations with the entire Gulf region and beyond, and will also reinvigorate Indian plain gold and studded jewellery exports to what is, by far, the largest consuming nation, accounting for 26% of gem &amp; jewellery exports. With 0% import duty on jewellery, we are expecting jewellery exports to UAE will move to new heights (UAD 10 billion annually) and take us forward towards creating an Atmanirbhar Bharat for our sector.\u201d<\/p>\n\n\n\n<p>\u201cOn behalf of the entire Indian jewellery industry, I would like to express my gratitude to our <strong>Hon\u2019ble Prime Minster Shri Narendra Modi,<\/strong> for this remarkable strategic pact with UAE. This will pave way for raw material import at competitive price in India and provide free access for finished products to UAE market.\u201d<\/p>\n\n\n\n<p>\u201cWe have been closely working with the Ministry of Commerce &amp; Industry and I would like to thank our <strong>Hon\u2019ble Union Minister Piyush Goyal<\/strong> for accepting our recommendations for the gem &amp; jewellery industry. The partnership will also enable Indian independent and chain-store retailers to export jewellery directly to UAE-based consumers. This will be a game changer for our industry. The CEPA will fast-track India\u2019s goal of reaching $50 billion in exports of gems and jewellery by 2022-23.\u201d<\/p>\n\n\n\n<p>\u201cIndian gem and jewellery exports to UAE suffered due to the pandemic and plunged to US$ 2.7 billion in 2020-2021. However, for the period of April 2021 -Feb 2022, G&amp;J exports to UAE have recovered but there is a decline of 45% to 5.1 billion as compared to 9.26 billion in April 2019- Feb 2020. CEPA will give a fresh lease of life to bilateral trade relations and solidify existing ties.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold import up to 120 tonnes allowed @ 1% duty in first year from UAE India-UAE CEPA will fast-track India\u2019s goal of reaching $50 billion in exports of gems and jewellery by 2022-23.\u201d The Gem &amp; Jewellery Export Promotion Council (GJEPC), the apex body of gem and jewellery trade in India, applauded the historical India-UAE&hellip;<\/p>\n","protected":false},"author":1,"featured_media":14625,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-14624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>India\u2019s Jewellery Exports To Surge USD 10 billion Annually To UAE With 0% Duty: GJEPC - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/indias-jewellery-exports-to-surge-usd-10-billion-annually-to-uae-with-0-duty-gjepc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India\u2019s Jewellery Exports To Surge USD 10 billion Annually To UAE With 0% Duty: GJEPC - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Gold import up to 120 tonnes allowed @ 1% duty in first year from UAE India-UAE CEPA will fast-track India\u2019s goal of reaching $50 billion in exports of gems and jewellery by 2022-23.\u201d The Gem &amp; 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