India–UK FTA to boost gem and jewellery exports as it comes into force on July 15

India's gem and jewellery industry is gearing up for a sharp jump in exports to the UK after the India–UK Free Trade Agreement (FTA) comes into force on July 15, with exporters expecting shipments to more than triple over the next few years as Indian jewellery gains duty-free access to one of its key overseas markets.

Industry body Gem & Jewellery Export Promotion Council (GJEPC) estimates that gem and jewellery exports to the UK could rise from the current $754 million to nearly $2.5 billion, while overall bilateral trade in the sector could expand to around $7 billion. The agreement provides zero-duty access for nearly 99% of Indian exports, significantly improving the price competitiveness of Indian jewellery in the British market.

Exporters believe the FTA will particularly benefit categories such as diamond-studded jewellery, coloured gemstone jewellery, silver jewellery and lab-grown diamond jewellery, where India enjoys strong manufacturing capabilities. The duty elimination is expected to help Indian products compete more effectively against rival exporting nations while opening fresh opportunities for manufacturers, MSMEs and skilled artisans.


"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. He added that the council expects exports to the UK to grow to around $2.5 billion over the next few years.

To help exporters capitalise on the agreement from day one, 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 leading UK buyers, including retail chains, wholesalers and independent retailers. The event was timed just days ahead of the FTA's implementation to facilitate new sourcing partnerships and long-term commercial agreements.

Speaking at the event, Nidhi Mani Tripathi, Minister (Economic) at the High Commission of India in London, said the FTA marks a transformative milestone in bilateral economic ties. She noted that platforms such as the Buyer-Seller Meet would play a key role in translating the agreement into business opportunities, while highlighting India's broader ambition to expand overall India–UK bilateral trade from about $56 billion to $120 billion by 2030-31.

According to Vijay Mangukiya, Convener, International Exhibitions, GJEPC, the council plans to further strengthen India's presence in the UK through the India Pavilion at Jewellery Show London later this year and by bringing UK buyer delegations to leading jewellery exhibitions in India, including IIJS Premiere and IGJS Jaipur.

India's gem and jewellery trade with the UK has already been expanding. In 2025, India's exports to Britain stood at around $754 million, while imports from the UK were valued at $3.07 billion, taking total bilateral trade in the sector to approximately $3.83 billion. Industry executives believe the FTA will accelerate this growth by lowering trade costs, improving market access and encouraging deeper sourcing partnerships between Indian manufacturers and British retailers.