The India-United Kingdom Free Trade Agreement is expected to drive growth in India’s gems and jewellery exports, states Prithviraj Kothari, President of the India Bullion and Jewellers Association. With reduced tariffs and enhanced market access, products like jewellery, diamond jewellery, lab-grown diamonds, and precious stones are anticipated to see a surge in exports to the UK.
Kothari highlighted the significance of trade agreements in fostering bilateral commerce, noting the positive impact of the India-UK pact on the export sector. He emphasized the mutual benefits that such agreements bring and pointed out India’s active engagement in expanding global trade ties with nations like Australia.
Adil Kotwal, President of the Gems and Jewellery Manufacturer Association, lauded the Comprehensive Economic and Trade Agreement between India and the UK. Under this pact, duties on 99% of products will be eliminated, marking a milestone in the partnership.
Market expert Sunil Shah commented on the positive technical rebound in Indian equity markets following a recent decline, attributing it to stabilized crude oil prices. Despite the rebound, Shah noted that the markets are still influenced by the oil price levels.
