Mumbai: Gem and Jewellery Export Promotion Council on Tuesday launched India Jewellery Exposition Centre, a 365-day exhibition platform, in Dubai to commemorate the primary anniversary of the Complete Financial Partnership Settlement. “CEPA is among the most bold pacts.
India’s exports to UAE have exceeded USD 30 billion, with gems and jewelry and plastics deriving advantages from lower-priced inputs. GJEPC (Gem and Jewelry Export Promotion Council) has arrange IJEX and I see super worth in such initiatives.
“CEPA will speed up enterprise momentum and is predicted to remodel the dimensions and scope of bilateral partnerships,” Division for Promotion of Trade and Inner Trade (DPIIT) Secretary Rajesh Kumar stated in a press release.
The Complete Financial Partnership Settlement (CEPA) has been a boon to the bilateral commerce relations between the 2 nations, with India-UAE commerce rising by 16 per cent to succeed in USD 84.5 billion in 2022-23 from USD 72.9 billion the earlier yr.
Of this, India’s exports to the UAE grew by 11.8 per cent to USD 31.3 billion, with the gem and jewelry sector witnessing a surge of 16.54 per cent to USD 5.77 billion.
“The gems and jewelry sector is among the many industries which have gained considerably from CEPA. India’s exports on this sector have witnessed spectacular development.
“I’m positive the Indian jewelry business would profit from this chance and take the exports of the gem and jewelry exports to the pre-Covid degree of USD 10 billion to the UAE quickly,” GJEPC chairman Vipul Shah added.
