GJEPC Urges Duty-Free Access for Indian Jewellery in EU FTA Talks

India's Gem & Jewellery Export Promotion Council (GJEPC) is pressing for duty-free entry of Indian jewellery into the European Union market. This push comes as India-EU Free Trade Agreement negotiations approach their final stages. GJEPC believes this move will significantly boost Indian jewellery exports, foster economic growth, and generate employment opportunities. In return, the council is also suggesting concessions on imports from the EU, specifically diamonds, aiming for a mutually beneficial trade arrangement.

The Gem & Jewellery Export Promotion Council (GJEPC) of India is making a strong appeal for duty-free access for Indian jewellery products into the lucrative European Union market. This significant demand is being put forth as the Free Trade Agreement (FTA) negotiations between India and the EU are nearing their conclusion, presenting a crucial window for securing favorable trade terms. GJEPC's primary motivation behind this initiative is to substantially enhance India's jewellery exports to Europe, thereby stimulating the domestic industry and creating a multitude of job opportunities across the value chain, from crafting to sales.Industry stakeholders believe that eliminating tariffs would make Indian jewellery more competitive in the European market, allowing it to capture a larger share and providing a much-needed impetus to the sector. To facilitate a balanced and reciprocal agreement, GJEPC is also proposing that India grant concessions on specific imports from the European Union, particularly high-value items like diamonds. This reciprocal approach aims to foster a mutually beneficial trade environment, ensuring that both parties gain from the FTA. The successful inclusion of duty-free access for jewellery is seen as a pivotal step towards solidifying India's position as a global leader in the gem and jewellery trade, particularly within one of the world's largest economic blocs, the EU. The outcome of these ongoing FTA talks holds immense implications for the future trajectory of India's gem and jewellery industry, potentially unlocking significant economic growth and strengthening bilateral trade relations.