(These are excerpts from the interview; the full version can be accessed in the upcoming Diamond World print edition.) 

Q: How significant is the UK-India CETA pact for India’s gem and jewellery sector, particularly diamonds, given the UK’s role as a key trading partner?
A: The India-UK Free Trade Agreement (FTA) marks a significant milestone for India’s gem and jewellery sector, further deepening its engagement with one of its most important export destinations. The agreement eliminates the duty on gold and studded gold jewellery, enhancing Indian exporters’ competitiveness in the UK market, and positioning India as a preferred sourcing hub for fine jewellery.

While the diamond trade already enjoyed a zero-duty structure even before the agreement, the FTA is expected to renew interest, and encourage greater trading activity, in this segment. Beyond diamonds, the primary growth momentum will be seen in value-added jewellery exports.

In 2024, India’s gold jewellery exports to the UK stood at $ 94.65 million, and these are projected to increase to $ 283.95 million within the next three years. Studded jewellery shipments are expected to grow from $ 176.75 million to $ 530.25 million, platinum jewellery from $ 57.11 million to $ 114.22 million, and imitation jewellery from $ 15.09 million to $ 45.27 million.

Overall, India’s gem and jewellery exports to the UK — currently valued at around $ 941 million — are anticipated to rise to nearly $ 2.5 billion over the next three years, once the FTA becomes operational.

Q: With India already being a leading supplier of cut and polished diamonds, how will this agreement help Indian diamantaires strengthen their foothold in the UK market?
A: India supplies nearly 90% of the world’s cut and polished diamonds, and the UK is a sophisticated, high-value market with a strong luxury retail ecosystem. The agreement provides our diamantaires with unhindered access, enabling them to increase volumes, enter long-term supply contracts, and collaborate more closely with UK-based brands and retailers. This will not only deepen existing relationships, but also allow Indian players to move up the value chain through design-led and branded offerings.

Q: Do you see the pact creating new opportunities for India’s small- and mid-sized diamond units, which often find it challenging to penetrate developed markets?
A: The FTA creates powerful new pathways for our small and mid-sized units. It fosters direct connections through platforms like Buyer-Seller Meets, giving them unprecedented visibility and access to build relationships with UK retailers. This is a significant opportunity for smaller entities to integrate into the UK market and diversify their business.

Q: Beyond trade benefits, can this agreement facilitate collaborations in areas such as jewellery design, branding, or technology exchange between Indian and UK players?
A: Yes, and this is where I see tremendous long-term value. The UK is a global hub for design, branding, and retail innovation, while India has unparalleled manufacturing strength and artisanal skills. Through this agreement, both sides can co-create collections, explore joint branding initiatives, and exchange technological expertise in areas like traceability, digital sales, and sustainable sourcing.

Q: How does GJEPC plan to leverage this agreement to ensure that maximum benefits reach exporters, especially those in hubs like Surat and Mumbai?
A: The India-UK Free Trade Agreement offers a transformative opportunity for India’s gem and jewellery sector, and GJEPC is adopting a proactive approach to ensure exporters from across India fully capitalize on it. The Council is focusing on awareness programmes, training sessions, and trade promotion initiatives to help members understand and leverage the benefits of the FTA, from tariff advantages to compliance frameworks.

Towards facilitating direct business linkages, GJEPC successfully hosted the first India-UK Jewellery Buyer-Seller Meet in London in July 2025, connecting leading UK retailers with Indian manufacturers across gold, diamond, and lab-grown jewellery segments. This initiative forms part of a larger strategy to strengthen India’s presence in mature, design-driven markets like the UK.

Q: Looking ahead, what role will the CETA pact play in positioning India as a global hub for natural diamonds and jewellery, in line with the Council’s long-term vision?
A: The CETA pact perfectly aligns with our long-term vision of making India the global epicentre for gems and jewellery. By eliminating trade barriers with a major market like the UK, the pact enhances India’s global competitiveness, and encourages higher value addition within the country. Over time, this will help consolidate India’s position not just as a manufacturing powerhouse, but also as a design, branding, and innovation hub for the global jewellery industry. It is a strategic step forward that benefits the entire value chain, from artisans to exporters.