The signing of the India–UK Comprehensive Economic and Trade Agreement (CETA) on 24 July 2025 marks a significant shift in bilateral trade dynamics, particularly for the global gem and jewellery sector. Signed by UK Prime Minister Keir Starmer and Indian Prime Minister Narendra Modi, the deal is the UK’s first major trade agreement post-Brexit to include a large developing economy.
For India’s gem and jewellery exporters, the headline gain is the elimination of the 2.5–4% import duty on jewellery products entering the UK — a move that immediately boosts Indian competitiveness against markets such as Thailand and Malaysia. According to the Gem & Jewellery Export Promotion Council (GJEPC), exports to the UK — currently around $400 million annually — could rise to $1 billion within two years.
The deal is expected to stimulate wider bilateral trade, with UK government projections estimating a £25.5 billion annual increase by 2040. Jewellery is among the top beneficiaries, with total Indian exports of gems and jewellery to the UK potentially scaling up to $2.5 billion in the near term.
In a symbolic gesture during the signing ceremony, UK Trade Secretary Jonathan Reynolds, also President of the UK’s Board of Trade, presented a coffee-table book and held bilateral discussions with Indian officials — reinforcing the diplomatic and commercial significance of the agreement.
For Indian manufacturers, designers, and exporters eyeing growth in mature markets, the UK now offers not just opportunity but clear tariff-free access — a strong signal for Indian jewellery’s continued global rise.
