India-UK CETA Could Triple Gems And Jewellery Exports To $2.5 Bn In Next Few Years

India's gems and jewellery exports to the Unuted Kingdom could more than triple from the current $754 million to around $2.5 billion over the next few years following the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA), according to the Gem & Jewellery Export Promotion Council (GJEPC).

The trade body said the agreement is also expected to help bilateral trade in the sector approach the $7 billion mark.

"The implementation of the India-UK CETA presents a significant competitive advantage for India's gem and jewellery industry. Duty-free access to the UK market from July 15 will enhance the attractiveness of Indian products and create new opportunities across key product segments," said Kirit Bhansali, Chairman, GJEPC, in a statement.

"We are confident of increasing India's gem and jewellery exports to the UK from the current $754 million to around $2.5 billion over the next few years, while contributing to the growth of bilateral trade in the sector to nearly $7 billion," he added.

Customs Rules Cleared Ahead Of July 15 Rollout

The optimism comes after the Union Finance Ministry notified the Customs Tariff (Determination of Origin of Goods under Comprehensive Economic and Trade Agreement between India and the United Kingdom of Great Britain and Northern Ireland) Rules, 2026, clearing the way for the trade pact to come into force on July 15.

The rules lay down the criteria for determining whether goods qualify as originating in India or the UK, allowing them to claim preferential tariff treatment under the agreement.

They also prescribe value-content calculations, documentation requirements and authentication procedures for certificates of origin, while requiring goods transiting through third countries to remain under customs supervision to prevent misuse of tariff benefits, according to the notification.

Buyer-Seller Meet Timed Ahead Of CETA

Ahead of the agreement taking effect, GJEPC organised the second edition of the India-UK Buyer-Seller Meet in London on July 7-8, bringing together 20 Indian manufacturers and more than 50 UK buyers, including retailers, wholesalers and independent jewellers, to explore new business opportunities under the trade pact.

According to GJEPC, the agreement will provide zero-duty access for nearly 99% of Indian exports to the UK, benefiting product categories such as diamond jewellery, coloured gemstone jewellery, silver jewellery and lab-grown diamond jewellery.

The council added that it will continue supporting exporters through buyer engagement initiatives and awareness programmes as businesses prepare for the implementation of CETA.

Under the India-UK CETA, both the countries aim to expand the broader bilateral trade to $120 billion by 2030-31, up from $56 billion currently, said Nidhi Mani Tripathi, Minister (Economic Affairs) at the High Commission of India to London, who was also the chief negotiator of the trade agreement.