Kirit Bhansali, Chairman, GJEPC
| Photo Credit:
EMMANUAL YOGINI
With exports of Indian jewellery to the US down 44 per cent, the newly-signed India-European Union Free Trade Agreement (FTA) is expected to provide a lifeline to the sector, particularly for export hubs in Gujarat, Rajasthan, Maharashtra and West Bengal, said Gem and Jewellery Export Promotion Council (GJEPC) on Tuesday.
Describing it as “mother of all trade deals,” Kirit Bhansali, Chairman of GJEPC states, “The India-EU FTA will supercharge market diversification for the gem and jewellery industry. This transformative pact aims to double bilateral trade to ₹91,000 crore within three years. Zero-duty access to the world’s largest consumer market empowers export hubs in Gujarat, Rajasthan, Maharashtra and West Bengal to ramp up shipments of precious jewellery (plain and studded), silver and imitation jewellery — capitalising on India’s renowned design prowess. Especially with exports to the US down by 44 per cent, this timely pact will help Indian exporters salvage lost ground.”
“Amid soaring metal prices and evolving trade dynamics, the deal enhances margins, sharpens our competitive edge in design and craftsmanship, accelerates manufacturing and generates jobs. For Indian jewellery retailers, it opens doors to expand brands across Europe, building on their rising global footprint,” Bhansali added.
Published on January 27, 2026
