Page 44 - Diamond Digest :: May June 2023

have witnessed an impressive growth of 16.54% to USD 5.77 billion in 2022-23 as compared to previous year. I am sure the Indian jewellery industry would make the most of this opportunity and take the exports the gem & jewellery exports to the pre-Covid level of USD 10 billion to UAE very soon. With continued support and cooperation, we can take our bilateral trade relations to new heights and achieve greater success.”
Kirit Bhansali, Vice Chairman, GJEPC, said, “The 1st anniversary of the CEPA marks a significant milestone in the economic relations between India and the UAE. The India Jewellery Exposition Centre is a step towards strengthening these ties further, it will facilitate the micro, small and medium manufacturers of gems and jewellery, who do not have the wherewithal to have their office set up at Dubai, to market their products in entire MENA and CIS region taking advantage of CEPA.
This setup will serve as a valuable window for buyers in the region, showcasing the diverse range of products offered by India. Our efforts would be to set up more such India Jewellery Exposition Centers in major and emerging markets in the world.”
Dr. Srikar Reddy, Joint Secretary, Ministry of Commerce & Industry, Government of India said, “India’s merchandise exports last year grew 5% to $447 billion, and the Commerce & Industry Minister has set an ambitious target of $1 trillion. The UAE will act as an important gateway to achieving this goal, and our aim is to increase trade through CEPA which was built on trust, openness, and flexibility. At the newly operationalised IJEX, I’m happy to see the exuberance and enthusiasm among the first-time participants entering the UAE market. We must hold reverse buyer-seller meets to attract buyers from regions like Africa and the Middle East.”
44 • Diamond Digest • May - June • 2023