Summary:

The India-UK Free Trade Agreement (FTA) is expected to significantly boost India's gem and jewellery exports, particularly as exports to the United States and China decline. Exports to the UK are anticipated to reach Rs. 21,183 crore (US$ 2.5 billion) within two years, more than doubling current levels. The FTA is expected to quadruple overall bilateral trade in gems and jewellery to Rs. 59,311 crore (US$ 7 billion). This agreement aims to strengthen commercial ties, promote innovation, and enhance collaboration with artisan partners. Mr. Jayant Ranige of Pure Jewels praised the agreement for blending tradition with innovation, aiming to showcase Indian creativity on the global stage and expand opportunities for both Indian and British jewellery craftsmanship.

Source: IBEF

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