The International Gem and Jewellery Show (IGJS) Dubai commenced on Tuesday, with industry leaders anticipating a significant boost to India’s exports to the United Arab Emirates.
The Gem and Jewellery Export Promotion Council (GJEPC) of India projects a 20 percent increase in exports to the UAE for the current calendar year, building on the success of previous events.
Kirit Bhansali, Vice Chairman, GJEPC, highlighted the importance of IGJS Dubai as a key event for the region.
He noted that the India-UAE Comprehensive Economic Partnership Agreement (CEPA) has fostered deeper partnerships and created new growth opportunities.
In 2023, India’s jewellery exports to the UAE reached USD 8 billion, with notable increases in demand for plain gold and studded jewellery.
While the global gem and jewellery industry faces challenges due to reduced demand in major markets like the United States and China, GJEPC reports rising interest from Middle Eastern countries.
Markets such as Saudi Arabia, Bahrain, Kuwait, and Oman have shown increased demand, with IGJS Dubai playing a crucial role in meeting the evolving needs of these regions.
The current iteration of IGJS Dubai has attracted over 30 manufacturers and more than 300 international buyers. Attendees include representatives from the UAE, Saudi Arabia, Qatar, Kuwait, the United Kingdom, the United States, Africa, and Russia, underscoring the event’s global appeal and significance in the industry.