Kolkata on Wednesday flagged off its first jewellery export consignment to the United Kingdom under the India-UK Comprehensive Economic and Trade Agreement (CETA), marking the eastern city’s entry into the first nationwide shipment following the implementation of the landmark free trade pact.
The consignment was dispatched from the Kolkata Air Cargo Complex as part of a nationwide jewellery shipment valued at $10 million, with similar flag-off events being held in Delhi, Mumbai, Surat, Jaipur and Chennai.
Six Kolkata-based exporters, Jais Jewellery Pvt. Ltd., Modern Impex, L. Gopal & Sons (Jewellers), AB Jewels Pvt. Ltd., JS Jewels Private Limited and Hasmukh Parekh Jewellers, are part of the inaugural shipment, which includes gold, diamond, silver and platinum jewellery.
The ceremony was attended by West Bengal Industry and Commerce Minister Tapas Roy, Customs Member Yogendra Garg, Additional Director General of Foreign Trade Chandra Kant Mishra, British Deputy High Commissioner for East and Northeast India Andrew Fleming, GJEPC Eastern Region Chairman Pankaj Parekh and SHEFEXIL Executive Director Debjani Roy.
Zero-duty access expected to boost exports
The shipment comes on the day the India-UK CETA came into force, granting Indian gem and jewellery exporters zero-duty access to the UK market by eliminating import tariffs of up to 4%.
The agreement is expected to improve India’s competitiveness in the UK’s $4 billion jewellery import market, while supporting higher exports, investment and employment across the sector.
Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), said the first shipment marked “a proud and defining moment for India’s gem and jewellery industry” and signalled “the beginning of a new chapter in India’s global trade journey.”
He said the removal of UK import duties would provide Indian exporters with a significant competitive advantage and projected that India’s gem and jewellery exports to the UK could rise from around $754 million to nearly $2.5 billion over the next three years.
Bhansali said the anticipated growth would create opportunities for exporters, manufacturers, MSMEs, artisans and designers while strengthening India’s position as a global hub for value-added jewellery manufacturing.
Kolkata poised to benefit
GJEPC Eastern Region Chairman Pankaj Parekh said the trade agreement presents “a transformative opportunity” for India’s jewellery industry to expand its presence in one of the world’s most premium jewellery markets.
He said Kolkata’s long-standing expertise in jewellery manufacturing and craftsmanship positions it to emerge as a major beneficiary of the agreement.
According to the industry body, the India-UK CETA is expected to improve market access for West Bengal’s gem and jewellery sector, encourage value-added manufacturing, generate employment and strengthen the participation of artisans, MSMEs and exporters.
The first export consignment also underscores Kolkata’s role in India’s jewellery exports, with the city expected to play a key role as Indian jewellery enters the UK market with zero-duty access for the first time under the free trade agreement.
