Bengaluru, 28th July 2025: Hon’ble Prime Minister Shri Narendra Modi and UK Prime Minister Sir Keir Starmer signed the landmark India-UK Free Trade Agreement (FTA) today 24th July 2025 at Chequers, the official country residence of the British Prime Minister. Mr. Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), was present at the ceremony as part of a special 20-member business delegation led by Hon’ble PM to UK.

The FTA is set to transform bilateral trade between the two nations, with nearly 99% of Indian exports gaining zero-duty access to the UK market. The pact is expected to significantly boost Indian gem exports across key sectors, especially plain gold and gemstone studded jewellery.

In 2024, India exported gems and jewellery worth $941 million to the UK, while imports from there stood at $2.7 billion, bringing bilateral trade in the sector to $3.6 billion. Under the FTA, this trade is projected to nearly double, with Indian gem & jewellery exports to the UK set to touch $2.5 billion and bilateral trade in the sector expected to hit $7 billion in two years’ time.

The elimination of import tariffs will enhance the global competitiveness of ‘Made in India’ gems and jewellery, creating fresh opportunities for manufacturers, MSMEs, and crating jobs for skilled artisans across the country.

Commenting on the landmark agreement, Kirit Bhansali, Chairman, GJEPC said, “It was an immense privilege to witness the historic signing of the India–UK Free Trade Agreement — a transformative milestone under the visionary leadership of Hon’ble PM Shri Narendra Modi. This landmark accord unlocks exciting new opportunities for the gem and jewellery sector. Currently, exports to the UK stand at USD 941 million; with the duty concessions in place, this figure is poised to surge to USD 2.5 billion within the next three years, elevating overall bilateral trade in our sector to an estimated USD 7 billion.

What is particularly encouraging is that recent FTAs—including this one—are being forged with key consumer markets across diverse sectors. The Gem & Jewellery Export Promotion Council (GJEPC) has proactively collaborated with the Government to ensure that our industry receives the strategic focus and priority it truly deserves.

It was both a matter of pride and honor to be part of the Prime Minister’s Indian business delegation and to present the book, Gem of a Partnership, to Hon’ble PM Shri Narendra Modi and UK PM Sir Keir Starmer. The book highlighted the immense potential of India–UK gem and jewellery trade. Additionally, it was a distinguished honor to showcase the exquisite ‘Indian Crafts Reimagined’ jewelry collection at the UK–India Reception. The collection beautifully represented iconic traditional arts such as filigree, Kashmiri architecture, Meenakari, enamelling, and Warli, embodying our Hon’ble PM’s inspiring ‘Design in India’ vision for the jewellery sector.”

GJEPC is actively working to support its members through this evolving trade landscape by hosting awareness sessions, webinars, and seminars led by international trade experts for ensuring that the industry maximises the long-term benefits of this India-UK partnership.

The post India & UK Ink ‘Gem of a Partnership’ as FTA Paves Way for $7 Billion Gem & Jewellery Trade Boom appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The Role of Responsible Trade Bodies in Industry Revival

The revival of the diamond industry owes much to the efforts of socially responsible trade bodies that supported workers and businesses during turbulent times. As Mahatma Gandhi famously said, “The best way to find yourself is to lose yourself in the service of others.” These organizations have been instrumental in ensuring the welfare of artisans and sustaining the industry’s workforce.

One such exemplary body is the Gem & Jewellery National Relief Foundation (GJNRF), which represents the collective charitable arm of the Indian diamond industry. GJNRF’s international contributors include renowned organizations like the Gemological Institute of America (GIA), Anglo American Foundation, Rio Tinto, and Diamonds Do Good (DDG). Inspired by Winston Churchill’s words, “We make a living by what we get, but we make a life by what we give,” these entities have consistently supported initiatives aimed at social welfare.

Welfare Initiatives: A Lifeline for Artisans

Community Support

Over past years, GJNRF has built a robust welfare network for artisans and their families. During recent crises, it distributed over 7,000 grain kits worth ₹1.42 crore across key centers like Bhavnagar, Palanpur, Deesa, Surendranagar, Umarala, and Vallabhipur in Gujarat. Earlier distributions included grain kits worth ₹80 lakhs in Botad district and Surat. Additionally, GJNRF stepped in to pay school fees for underprivileged students in Surat and distributed free notebooks annually in Gujarat’s Surat and Patana regions.

Healthcare Assistance

Healthcare has remained one of GJNRF’s most impactful initiatives. In FY 2023-24 alone, over 5,000 artisans received medical aid for critical illnesses, surgeries, and hospitalization expenses. Collaborations with local associations like Shri Bhavnagar Jilla Diamond Association and Diamond Worker Union Gujarat ensure that artisans benefit from healthcare camps offering free check-ups, medicines, and consultations.

Complementing these efforts is the Gem & Jewellery Export Promotion Council (GJEPC) through its Swasthya Kosh initiative. The Swasthya Ratna scheme has positively impacted over 8.45 lakh lives by processing ₹184 crore in healthcare benefits. Meanwhile, the Parichay Card program provides artisans with digital identities linked to free health insurance worth ₹35,000 per cardholder. Over 1.4 lakh Parichay Cards have been issued so far, with a target of reaching 5 million artisans by 2027.

Kirit Bhansali, Chairman, GJEPC, highlighted the Council’s steadfast commitment to artisans, stating, “At GJEPC, we believe that our artisans are the heart of the industry. Their skill and dedication have made Indian jewellery renowned worldwide. Through GJNRF, we ensure they receive the healthcare, education, and financial support they need to thrive. Our mission is to create an ecosystem where every artisan feels valued and secure, paving the way for a stronger and more sustainable industry. We start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.”

“GJEPC has provided medical insurance to over 42,000 diamond factory workers in Surat, offering coverage of ₹1,00,000 at highly subsidized rates. Additionally, a free medical insurance scheme covering ₹35,000 is available for artisans, with 35,000 members already enrolled and benefiting through the Parichay Card mediclaim. Support initiatives have also been extended to other diamond-centric hubs, including Bhavnagar, Amreli, Rajkot, Junagadh, and Palanpur.”

Talking about the ongoing slowdown in Surat diamond industry, Shri Jayantibhai N. Savaliya, Regional Chairman– Gujarat Region, GJEPC said, “GJEPC has actively participated in all representations made to the Government of Gujarat with regards to the current slowdown in the industry. We attended the meeting called by the Labour Commissioner on March 19, 2025, in Surat, expressing solidarity with artisans. Additionally, we engaged with members of the task force committee constituted by the Hon’ble Chief Minister to address this matter, reaffirming our commitment to the welfare of the artisan community.”

Preventive Healthcare

Beyond immediate aid, GJNRF promotes preventive healthcare through awareness programs on hygiene and nutrition. Partnerships with leading hospitals ensure subsidized treatment for artisans while empowering them with knowledge to lead healthier lives.

Educational Support

GJNRF recognises that the future of the industry depends on the education of artisans’ children. Scholarships and financial aid have been extended to students, enabling them to pursue higher studies without financial constraints. In recent years, over 1,200 students have benefited from these initiatives, allowing them to secure better opportunities for themselves and their families. The Foundation also works closely with vocational training centres to provide skill development courses tailored to the gem and jewellery sector, ensuring that artisans and their families can enhance their expertise and remain competitive in the evolving market.

Furthermore, GJEPC has initiated mentorship programmes, connecting students with industry professionals who guide them on career paths and provide valuable insights. Such efforts not only improve individual prospects but also contribute to the long-term sustainability of the industry by fostering a new generation of skilled artisans.

GJNRF has launched various initiatives to provide financial aid for medical emergencies, housing, and sustenance. In FY 2022-23, more than ₹15 crore was disbursed to assist struggling families, ensuring they could maintain a stable livelihood. The foundation has also introduced micro-financing schemes, allowing artisans to access small loans at low interest rates to invest in tools, raw materials, and business expansion.

GJEPC has partnered with industry stakeholders to create employment opportunities and enhance job security. By collaborating with jewellery manufacturers and export houses, the Council facilitates skill-matching programmes. These efforts provide financial stability but also reinforce the value of traditional craftsmanship in modern jewellery design.

Disaster Relief

GJNRF has stepped up in times of need, offering relief during natural disasters, pandemics, and economic downturns. During the COVID-19 pandemic, GJNRF provided extensive support, distributing essential supplies, financial aid, and medical assistance to over 10,000 affected artisans and their families.

GJEPC, through GJNRF, remains dedicated to strengthening the welfare ecosystem for artisans. By expanding healthcare, education, and financial aid initiatives, the Council aims to create a sustainable and supportive environment where artisans thrive. Future plans include scaling up medical assistance programmes, introducing digital learning platforms for artisans’ children, and enhancing financial literacy programmes to equip artisans with better money management skills.

As global demand stabilizes the diamond industry is poised for long-term growth. Strategic initiatives like supply chain traceability and sustainability-focused branding will further enhance consumer trust. With industry bodies like GJNRF leading welfare efforts and adapting to evolving market dynamics, both artisans and businesses can look forward to a sparkling future ahead.

The post The Gem & Jewellery Export Promotion Council Industry Bodies Propel Diamond Sector Workforce Towards a Brighter Future  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.