IGJS to Boost UAE Exports by 20% in 2024: GJEPC
Dubai fair strengthens UAE-India trade ties, targets $8 billion in jewelry exports
IGJS to Boost India’s Gem and Jewelry Exports to UAE by 20% in 2024, Says GJEPC
India’s Gem and Jewelery Export Promotion Council (GJEPC) said on Tuesday that the International Gem and Jewelery Fair (IGJS), which began in Dubai on Tuesday, is expected to boost exports to the UAE by 20 per cent this calendar year. “The IGJS is a cornerstone for the Dubai region, strengthened by the India-UAE CEPA agreement, which has opened doors for deeper partnerships and new growth opportunities. By 2023, India’s jewelery exports to the UAE are expected to reach $8 billion. Plain gold jewelery and studded jewelery are in demand,” said GJEPC Deputy Chairman Krith Bhansali said in a statement.
In CY24, he said, looking at the success of IGJS in Dubai, GJEPC is targeting a 20 per cent growth in India’s gem and jewelery exports to the UAE compared to 2023.
The global gem and jewelery industry is currently facing challenges, with low demand in key consuming markets such as the US and China, however, GJEPC said demand is increasing from key Middle East markets such as Saudi Arabia, Bahrain, Kuwait and Oman.
“IGJS Dubai has played a key role in meeting the growing needs of these markets,” added Bhansali.
More than 30 manufacturers participated in IGJS, which attracted more than 300 international buyers from UAE, Saudi Arabia, Qatar and Kuwait, UK, US, Africa and Russia.
