Mumbai, India's financial capital and the country's premier hub for gem and jewellery exports, marked a historic milestone with the flagging off of the first jewellery export consignment to the United Kingdom under the India–UK Comprehensive Economic and Trade Agreement (CETA).

The Mumbai flag-off forms part of a nationwide initiative being held across Delhi, Surat, Jaipur, Chennai and Kolkata, celebrating India's first jewellery exports to the UK under the landmark trade agreement.

In Mumbai, the flag-off ceremonies were held at two key export hubs—PCCC Customs - Bharat Diamond Bourse (BDB) and SEEPZ-SEZ, reflecting the city's pivotal role in India's gem and jewellery exports. At PCCC Customs, the ceremony was attended by Santosh Kumar, Commissioner of Customs, Mumbai; Vishwajeet Chimankar, Deputy Director General of Foreign Trade (DGFT); and Shaunak Parikh, Vice Chairman, GJEPC. Participating exporters included, Malabar Gold & Diamonds Pvt. Ltd., Shree Ramkrishna Exports, and Venkatesh Jewellers.

The India–UK CETA ushers in a new era for India's gem and jewellery industry by providing zero-duty access to the UK market from the day the agreement enters into force and eliminating UK import tariffs of up to 4%. The agreement gives Indian exporters a significant competitive advantage in the UK's US$4 billion jewellery import market, paving the way for enhanced exports, investment and employment.

Courtesy: AOJ DESK NEWS