Recent data from the Gem & Jewellery Export Promotion Council of India (GJEPC) shows that the UAE and Bahrain received more than 85% of India’s plain gold jewellery exports in the financial year 2023-24. This means there is a growing demand for Indian gold jewellery in the Middle East, especially in the UAE where sales have been successful.
Opportunities for Jewellery Shop Owners
For jewellery store owners in Dubai, Saudi Arabia, and Qatar, this trend is exciting news. Indian gold jewellery is highly recognised for its craftsmanship and quality, making it a popular choice among consumers in these regions. By offering a wider range of Indian jewellery, shop owners can attract more customers and cater to different tastes.
Why Trade Agreements Matter
India’s gold jewellery exports have grown due to beneficial trade agreements such as the India-UAE Comprehensive Economic Partnership Agreement (CEPA). These agreements ease business operations and the import process, making it easier for jewellery shop owners to purchase Indian gold. This means that shop owners can access Indian jewellery more efficiently and with fewer barriers, facilitating smoother trade between India and countries like the UAE
Challenges
While the jewellery export business is flourishing, there are still challenges like fluctuations in Gold price, changes in global markets and political tensions. Therefore, It is important for store owners to stay informed and adaptable to keep their businesses growing.
How Chisquare Can Help
Chisquare recognises the importance of analytics for jewellery business owners in Dubai, Saudi Arabia, and Qatar. Therefore, we provide innovative tools and technologies to jewellery shop owners to help them operate their businesses more efficiently. Our real-time business data and AI-powered analytics solutions give necessary data to the owners of jewellery businesses make wise decisions and remain competitive.
Stay tuned to Chisquare for more industry news and updates tailored to jewellery shop owners in the Middle East!
