India exports most of its Diamond to Hong Kong, United States and United Arab Emirates and is the largest exporter of Diamond in the World. The gem and Jewelry trade between India and UAE has grown significantly, particularly following the India-UAE CEPA agreement, and about 30 per cent of the total gems and Jewelry imported by the emirate is sourced from India

The UAE imports a total of USD 10.48 billion worth of Jewelry from around the world, and a significant portion, approximately 30 per cent is sourced from India

Exports of Gems & Jewelry- Rough Diamonds in India increased to 1521.37 INR TML in February from 512.35 INR TML in January of 2024. Exports of Gems & Jewelry- Rough Diamonds in India averaged 615.63 INR TML from 2008 until 2024, reaching an all-time high of 4135.20 INR TML in October of 2021 and a record low of 16.11 INR TML in May of 2020.

Top 3 Product Categories of Diamond Exports from India are

• HSN Code 71023910: diamond cut or otherwise worked but not mounted or set
• HSN Code 71049100: 71049100
• HSN Code 71049120: 71049120

Exporting gems and Jewelry from India to the United Arab Emirates (UAE) can offer several benefits due to the strong demand for such products in the UAE and the strategic advantages of the UAE as a trading hub.

Some of the key benefits include:

Strategic Location:

The UAE serves as a gateway to the Middle East, Africa, and other regions, making it a strategic location for trade. Its well-developed infrastructure, including ports and airports, facilitates the movement of goods, including gems and Jewellery, to various markets.

Growing Market:

The UAE has a significant demand for gems and Jewellery, driven by its affluent population, tourism sector, and status as a regional trading hub. This demand creates opportunities for Indian exporters to tap into a lucrative market.

Tax Benefits:

The UAE is known for its business-friendly environment, with tax incentives and low import duties. Exporting to the UAE can provide cost advantages for Indian exporters compared to other markets with higher taxes and duties.

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Cultural Preferences:

The UAE has a diverse population with a strong appreciation for luxury goods, including gems and Jewellery. Indian Jewellery, known for its craftsmanship, designs, and cultural significance, can appeal to the tastes of consumers in the UAE.

Networking Opportunities:

The UAE hosts various trade shows, exhibitions, and events related to gems and jewellery, providing opportunities for Indian exporters to showcase their products, build relationships with buyers, and expand their network in the industry.

Ease of Doing Business:

The UAE has streamlined processes for setting up businesses, obtaining licenses, and conducting trade. This ease of doing business can benefit Indian exporters looking to establish a presence in the UAE market.

Re-Export Opportunities:

 Due to its role as a re-export hub, the UAE offers opportunities for Indian exporters to reach markets beyond the UAE. Products exported to the UAE can be re-exported to other countries in the region, leveraging the UAE’s connectivity and trade networks.

Documents required to export jewelry from India

• Permanent Account Number (PAN)
• Authorized Dealer Code (AD code)
• Goods and Services Tax Identification Number (GSTIN)
• Importer-Exporter Code (IEC) by DGFT
• PAN based Business Identification Number (BIN) from the Customs departments
• Registration cum membership certificate (RCMC) by GJEPC
• Certificate of Origin
• Certificate of Insurance