 "30% of UAE's gems, jewellery sourced from India: Export Promotion Council")
The gem and jewellery trade between India and UAE has grown significantly, particularly following the India-UAE CEPA agreement, and about 30 per cent of the total gems and jewellery imported by the emirate is sourced from India, the Gem and Jewellery Export Promotion Council (GJEPC) said.
The UAE currently imports gems and jewellery amounting to USD 3.12 billion from India, the GJEPC said.
The UAE imports a total of USD 10.48 billion worth of jewellery from around the world, and a significant portion, approximately 30 per cent is sourced from India," Vipul Shah, the Chairman of Gem and Jewellery Export Promotion Council (GJEPC), has said.
Shah made the remarks while addressing the third edition of the International Gem and Jewellery Show (IGJS) in Dubai on Tuesday.
The show from October 10-12 is supported by the Ministry of Commerce and Industry, the Government of India, and the Embassy of India in UAE.
Additionally, it is supported by Dubai Gold and Jewellery Group, while Suntech is the co-sponsor, and Sequel serves as the logistics partner. A record-breaking 500 buyers from 32 different countries attended the IGJS show this year.
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IGJS Dubai has 45 exhibitors featuring product categories, including diamond and gemstones studded jewellery and gold jewellery at over 50 booths.
This curated exhibition has a global focus and is dedicated to offering top-quality Indian jewellery exclusively to international buyers.
Tawhid Abdullah, the Chairman of Dubai Gold and Jewellery Group, said: We are proud of the increase in bilateral gem and jewellery trade after the signing of the India-UAE CEPA. It's a win-win situation."
"However, we encourage GJEPC to host larger exhibitions and invite a more diverse set of jewellers from different parts of India to join the Dubai show, Abdullah said.
As part of the council's commitment to strengthening trade relations with the UAE, GJEPC established the India Jewellery Exposition (IJEX) centre in Dubai which serves as a dedicated B2B platform and provides GJEPC members with the opportunity to exhibit their products and secure orders in the UAE market throughout the year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)