As per the Comprehensive Economic Partnership Agreement, the import duty on Jewellery exports to UAE from India has been reduced from 5% to 0%, says Gem & Jewellery Export Promotion Council.
The Gem & Jewellery Export Promotion Council (GJEPC) said that with the signing of India-UAE Comprehensive Economic Partnership Agreement (CEPA), India’s gem & jewellery sector would achieve annual exports of more than $10 billion to UAE.
As per the pact, the import duty on Jewellery exports to UAE from India has been reduced from 5% to 0%. And India is allowed to import from UAE up to 120 tonnes of gold at 1% duty less than the applicable duty in the first year. The volume will increase to 200 tonnes in five years.
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