Kirit Bhansali, GJEPC Chairman
MUMBAI – The India–Oman Comprehensive Economic Partnership Agreement (CEPA), which provides zero-duty access for Indian gem and jewellery exports to Oman, is set to significantly strengthen bilateral trade and expand direct sourcing opportunities, according to India’s Gem & Jewellery Export Promotion Council (GJEPC).
With India’s gem and jewellery exports to Oman currently valued at USD 35 million (2024), GJEPC estimates that duty-free access under the agreement could help boost exports to USD 150 million over the next three years, driven by improved price competitiveness, wider product offerings and deeper industry collaboration.
Mr. Kirit Bhansali, Chairman, GJEPC, said that the agreement will play a critical role in enhancing trade linkages, improving competitiveness for Indian exporters and unlocking new growth opportunities across categories including polished diamonds, gold jewellery, and emerging segments such as silver, platinum and imitation jewellery.
India already has a strong position as Oman’s largest supplier of gold jewellery, particularly in 22-ct wedding and traditional designs, with exports registering robust growth in 2024–25.
The agreement is expected to support the Make in India initiative through increased manufacturing, design collaboration and investment partnerships, while positioning Oman as a strategic gateway for Indian jewellery exports to the GCC, Africa and neighbouring markets.
