“India-UK FTA” – A Beacon of Hope for the Gem & Jewellery Sector : Bhansali

India-UK FTA – A Beacon of Hope for the Gem & Jewellery Sector : Kirit Bhansali, Chairman, GJEPC

– Sanchit Mathur –

The signing of the India-UK Free Trade Agreement (FTA) stands as a monumental achievement in the journey of India’s global trade diplomacy. For the Indian gem and jewellery industry, this moment is nothing short of historic — ushering in a new era of opportunity, collaboration, and growth in one of the most prestigious markets in the world: the United Kingdom.

Kirit Bhansali Said, “As Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), I have had the privilege of witnessing firsthand the relentless dedication and focused efforts that went into achieving this remarkable milestone. This success story is the result of persistent dialogue, strategic engagement, and unwavering support from the Government of India.”

Strengthening Bilateral Ties

Bhansali Said, “GJEPC has consistently worked towards deepening bilateral trade relations with key global markets. The UK has always been a critical trade partner for India, especially for the gem and jewellery sector. Our efforts received an unprecedented boost through the support of the Government, culminating in a landmark moment when I was honoured to be a part of the esteemed Indian delegation to the UK, led by Shri Piyush Goyal, Hon’ble Union Commerce & Industry Minister.”

This high-level delegation held several key discussions and collaborative meetings with UK officials and industry leaders. These interactions played a vital role in paving the way for the signing of the Free Trade Agreement, which was eventually formalised under the visionary leadership of Hon’ble Prime Minister Shri Narendra Modi.

Opportunities for the Gem & Jewellery Industry

The India-UK FTA significantly reduces trade barriers, simplifies customs procedures, and opens up preferential market access for Indian exporters. For our industry, this means:

• Lower tariffs on precious stones, diamonds, and finished jewellery.
• Enhanced competitiveness in the UK market.
• Boosted exports, leading to more employment and economic growth within India.

This agreement is not just a trade deal — it is a beacon of hope and prosperity for countless artisans, manufacturers, and exporters in India’s gem and jewellery sector.

Looking Ahead

With the FTA now in place, we are entering a transformative phase. The UK market offers immense potential, and with a more favourable trade environment, we are poised to scale new heights. GJEPC will continue to work closely with stakeholders on both sides to ensure smooth implementation and maximisation of the benefits offered by this agreement.

Chairman Kirit Bhansali Said On behalf of GJEPC, I extend heartfelt gratitude to the Government of India, our Hon’ble Prime Minister Shri Narendra Modi, and Shri Piyush Goyal ji for their visionary leadership and tireless efforts that made this possible.