India’s gem and jewellery sector is set for a major boost as the India-UK Free Trade Agreement (FTA) nears finalization. The deal aims to scrap 99% of tariffs on Indian goods, unlocking new growth potential in one of India’s key export markets.
According to the Gem and Jewellery Export Promotion Council (GJEPC), exports to the UK are expected to grow from $400 million to $1 billion, with total exports likely to reach $2.5 billion within two years post-FTA.
Why This Matters:
- Tariff barriers removed: 99% of duties on Indian jewellery exports to be eliminated.
- Gold & Diamond jewellery will lead the surge — UK market demand remains strong in these categories.
- Silver jewellery & coloured gemstones emerge as new growth segments for exporters.
- Big win for emerging brands and start-ups — offering a gateway into the UK market.
- Exporters are intensifying market research and product alignment to match UK consumer tastes.
Challenges to Watch:
- Stringent UK hallmarking and documentation standards remain a barrier for first-time exporters.
- New and small players will need advisory support, certifications, and distribution partnerships to compete effectively.
- Without strong industry backing, regulatory complexity may slow adoption for fresh market entrants.
Quick Snapshot:
Metric
Current
Post-FTA Target
India’s Jewellery Exports to UK
$400 Mn
$1 Bn
Total Gem & Jewellery Exports
–
$2.5 Bn (2 years)
Industry Takeaway:
A golden opportunity — but only for those prepared to meet the UK’s high standards. Indian exporters must blend creativity with compliance to unlock this market’s full potential.
