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India Eyes ₹21,183 Crore Jewellery Exports After India-UK FTA Closure

Written by: Team Angel OneUpdated on: May 8, 2025, 2:25 PM IST
India targets ₹21,183 crore in jewellery exports to the UK after a historic FTA, boosting artisan partnerships and bilateral trade potential.
India Eyes ₹21,183 Crore Jewellery Exports After India-UK FTA Closure
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The recently concluded Free Trade Agreement (FTA) between India and the United Kingdom is expected to give a significant lift to India’s gems and jewellery exports. At a time when shipments to key markets like the United States and China are declining, this agreement arrives as a timely catalyst. Industry estimates suggest that exports to the UK could surge to ₹21,183 crore (US$ 2.5 billion) over the next two years, more than double the current figures.

UK: A Strategic Market for Indian Jewellers

According to Mr Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), the UK remains a vital export destination for India. In 2024, Indian jewellery exports to the UK stood at ₹7,973 crore (US$ 941 million), while imports from the UK were valued at ₹22,877 crore (US$ 2.7 billion). The new FTA is anticipated to double the total bilateral trade in gems and jewellery to ₹59,311 crore (US$ 7 billion).

Strengthening Artisan Ties and Fostering Innovation

Mr Bhansali also emphasised that beyond trade numbers, the agreement would strengthen collaboration with artisan partners and encourage innovation. He expressed optimism that the FTA will lead to long-term partnerships, support traditional craftsmanship, and open up modern, global opportunities for Indian artisans.

Read More: How Different Sectors are Likely to Impact After India–UK Free Trade Agreement?

Industry Response: Blending Heritage with Opportunity

Sharing his perspective, Mr Jayant Ranige, Chief Executive of UK-based Pure Jewels by Bhanji Gokaldas, stated that the agreement “honours tradition while paving the way for innovation.” He highlighted that the UK imports jewellery worth ₹25,419 crore (US$ 3 billion) annually from global markets, and this agreement could accelerate the presence of Indian artistry in the global jewellery space.

Conclusion

The agreement is being seen as more than just an economic milestone — it is a reaffirmation of the cultural connection between the two nations. It celebrates the longstanding legacy of Indian and British jewellery craftsmanship while offering a contemporary framework for future collaboration, trade, and investment.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: May 8, 2025, 2:25 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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