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Indian jewelry exports could double, thanks to this trade deal
Big news for Indian jewelry—thanks to a new trade deal with the UK, Indian exports could double in just a couple of years.
The agreement removes UK import duties, making it easier (and cheaper) for Indian gold and diamond jewelry to reach British shoppers and the South Asian community there.
Total gems and jewelry trade could reach $7B soon
The deal also scraps taxes on gold, silver, and platinum bars coming from the UK, all certified by London's Bullion Market Association.
Industry experts think this could push total gems and jewelry trade between the two countries up to $7 billion soon.
Plus, popular Indian brands like Tanishq and Malabar Gold & Diamonds are set to grow in the UK market—and more jobs could open up in India's big jewelry hubs like Jaipur and Surat.