{"id":32546,"date":"2025-07-25T12:03:32","date_gmt":"2025-07-25T06:33:32","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=32546"},"modified":"2025-07-28T16:10:05","modified_gmt":"2025-07-28T10:40:05","slug":"india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/","title":{"rendered":"India & UK Ink \u2018Gem of a Partnership\u2019 as FTA Paves Way for $6 Billion Gem & Jewellery Trade Boom"},"content":{"rendered":"

The signing of the India\u2013UK Free Trade Agreement on 24th July 2025 marks a significant milestone in the economic ties between the two nations.<\/em><\/p>\n

Hon\u2019ble Prime Minister Shri Narendra Modi and UK Prime Minister Sir Keir Starmer signed the landmark India-UK Free Trade Agreement (FTA) on 24th\u00a0July 2025 at Chequers, the official country residence of the British Prime Minister. Mr. Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), was present at the ceremony as part of a special 20-member business delegation led by Hon\u2019ble PM to the UK.<\/p>\n

The FTA is set to transform bilateral trade between the two nations, with nearly 99% of Indian exports gaining zero-duty access to the UK market. The pact is expected to significantly boost Indian gem exports across key sectors, especially plain gold and gemstone studded jewellery.<\/p>\n

In 2024, India exported gems and jewellery worth $941 million to the UK, while imports from there stood at $2.7 billion, bringing bilateral trade in the sector to $3.6 billion. Under the FTA, this trade is projected to nearly double, with Indian gem & jewellery exports to the UK set to touch $2.5 billion and bilateral trade in the sector expected to hit $6 billion in two years\u2019 time.<\/p>\n

The elimination of import tariffs will enhance the global competitiveness of \u2018Made in India\u2019 gems and jewellery, creating fresh opportunities for manufacturers, MSMEs, and creating jobs for skilled artisans across the country.<\/p>\n

Speaking at the FTA signing ceremony, Hon\u2019ble Prime Minister Shri Narendra Modi said, \u201cToday marks a historic milestone in India-UK relations. After years of negotiations, we have successfully concluded the Comprehensive Economic and Trade Agreement (CETA). This agreement does not merely pave way for economic partnership, it is a blueprint for our shared prosperity. It provides better market access for Indian textiles, footwear, gems and jewellery, and engineering goods in the UK market. It will prove especially beneficial for India\u2019s youth, MSMEs, etc. People in both countries will benefit, with greater access to high-quality products at competitive prices. This deal will promote ease of doing business, reduce operational costs, and build greater confidence among businesses. Moreover, the UK stands to gain from India\u2019s skilled talent pool. These agreements will not only boost investment but also create new jobs and deepen economic engagement between our two nations.\u201d<\/p>\n

\"\"<\/p>\n

Union Minister for Commerce and Industry, Mr. Piyush Goyal (pictured above with Mr. Kirit Bhansali<\/em>, conveyed profound gratitude to Prime Minister Shri Narendra Modi for his visionary leadership and resolute commitment, which have been instrumental in achieving this historic agreement. He stated: \u201cThis CETA marks a milestone in the trade relations between two major economies, setting an ambitious and balanced framework. It unlocks tariff-free access on 99% of Indian exports to the UK, covering nearly 100% of trade value- including labour-intensive sectors advancing the \u2018Make in India\u2019 initiative and setting the stage for bilateral trade to double by 2030. It includes ambitious commitments in goods and services, covering various sectors, while enhancing mobility for Indian professionals by simplifying access for contractual service providers, business visitors, and independent professionals. The innovative Double Contribution Convention will exempt Indian workers and their employers from UK social security contributions for three years, boosting competitiveness and earnings. This FTA will serve as a catalyst for inclusive growth, benefiting farmers, artisans, workers, MSMEs, startups, and innovators while safeguarding India\u2019s core interests and accelerating our journey towards becoming a global economic powerhouse.\u201d<\/p>\n

\"\"<\/p>\n

Commenting on the landmark agreement, Mr. Kirit Bhansali, Chairman, GJEPC said, \u201cIt was an immense privilege to witness the historic signing of the India\u2013UK Free Trade Agreement \u2014 a transformative milestone under the visionary leadership of Hon\u2019ble PM Shri Narendra Modi. This landmark accord unlocks exciting new opportunities for the gem and jewellery sector. Currently, exports to the UK stand at USD 941 million; with the duty concessions in place, this figure is poised to surge to USD 2.5 billion within the next three years, elevating overall bilateral trade in our sector to an estimated USD 7 billion.<\/p>\n

\u201cWhat is particularly encouraging is that recent FTAs\u2014including this one\u2014are being forged with key consumer markets across diverse sectors. The GJEPC has proactively collaborated with the Government to ensure that our industry receives the strategic focus and priority it truly deserves.<\/p>\n

\"\"
Dignitaries posing at the India Crafts Reimagined showcase during the UK-India Reception.<\/figcaption><\/figure>\n

\u201cIt was both a matter of pride and honour to be part of the Prime Minister\u2019s Indian business delegation and to present the book, \u2018Gem of a Partnership\u2019<\/em>, to Hon\u2019ble PM Shri Narendra Modi and UK PM Sir Keir Starmer. The book highlighted the immense potential of India-UK gem and jewellery trade. Additionally, it was a distinguished honour to showcase the exquisite \u2018Indian Crafts Reimagined\u2019 jewellery collection at the UK-India Reception. The collection beautifully represented iconic traditional arts such as filigree, Kashmiri architecture, Meenakari, enamelling, and Warli, embodying our Hon\u2019ble PM\u2019s inspiring \u2018Design in India\u2019 vision for the jewellery sector.\u201d<\/p>\n

\"\"
Mr. Kirit Bhansali presenting the GJEPC-curated coffee-table book \u2018Gem of a Partnership\u2019 to Mr. Jonathan Reynolds, Honorary Secretary of State for Business and Trade, President Board of Trade of United Kingdom (Commerce Minister of UK).<\/figcaption><\/figure>\n

GJEPC is actively working to support its members through this evolving trade landscape by hosting awareness sessions, webinars, and seminars led by international trade experts for ensuring that the industry maximises the long-term benefits of this India-UK partnership.<\/p>\n","protected":false},"excerpt":{"rendered":"

The signing of the India\u2013UK Free Trade Agreement on 24th July 2025 marks a significant milestone in the economic ties between the two nations. Hon\u2019ble Prime Minister Shri Narendra Modi and UK Prime Minister Sir Keir Starmer signed the landmark India-UK Free Trade Agreement (FTA) on 24th\u00a0July 2025 at Chequers, the official country residence of…<\/p>\n","protected":false},"author":1,"featured_media":32547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91,100,112,90],"tags":[],"thb-sponsors":[],"class_list":["post-32546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-in-focus","category-international","category-policy"],"acf":[],"yoast_head":"\nIndia & UK Ink \u2018Gem of a Partnership\u2019 as FTA Paves Way for $6 Billion Gem & Jewellery Trade Boom - solitaire magazine<\/title>\n<meta name=\"description\" content=\"The signing of the India\u2013UK Free Trade Agreement on 24th July 2025 marks a significant milestone in the economic ties between the two nations.\" \/>\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\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India & UK Ink \u2018Gem of a Partnership\u2019 as FTA Paves Way for $6 Billion Gem & Jewellery Trade Boom - solitaire magazine\" \/>\n<meta property=\"og:description\" content=\"The signing of the India\u2013UK Free Trade Agreement on 24th July 2025 marks a significant milestone in the economic ties between the two nations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-25T06:33:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-28T10:40:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2025\/07\/New-Project-4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2025\/07\/New-Project-4.jpg\",\"width\":1000,\"height\":600,\"caption\":\"Mr. Kirit Bhansali, Chairman, GJEPC (extreme left) attended a business event during the FTA ceremony in London.\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/\",\"name\":\"India & UK Ink \\u2018Gem of a Partnership\\u2019 as FTA Paves Way for $6 Billion Gem & Jewellery Trade Boom - solitaire magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/#primaryimage\"},\"datePublished\":\"2025-07-25T06:33:32+00:00\",\"dateModified\":\"2025-07-28T10:40:05+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"description\":\"The signing of the India\\u2013UK Free Trade Agreement on 24th July 2025 marks a significant milestone in the economic ties between the two nations.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/india-uk-ink-gem-of-a-partnership-as-fta-paves-way-for-7-billion-gem-jewellery-trade-boom\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/32546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=32546"}],"version-history":[{"count":2,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/32546\/revisions"}],"predecessor-version":[{"id":32566,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/32546\/revisions\/32566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/32547"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=32546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=32546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=32546"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=32546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}