The Gems and Jewellery Export Promotion Council (GJEPC), India's apex body supported by the Ministry of Commerce and Industry, unveiled the first-of-its-kind jewellery exposition center, India Jewellery Exposition 2023 (IJEX 2023), in Dubai. The center was inaugurated by Rajesh Kumar Singh, Secretary DPIIT, and Sunjay Sudhir, in the presence of Kirit Bhansali, Vice Chairman GJEPC, Juma Al Kait, Assistant Undersecretary – Foreign Trade Affairs at Ministry of Economy, UAE, and Srikar Reddy, Joint Secretary, Dept of Commerce.

IJEX 2023 is a global business touchpoint designed especially for GJEPC members to connect with international buyers. It is a year-round exhibition located opposite the Gold Souk in Deira Dubai, celebrating the first anniversary of the India-UAE CEPA. The drive behind this initiative is to establish IJEX as a much-needed avenue for MSME jewellers to exhibit their products continuously in the Middle East market. The platform will enable GJEPC members to display goods and book orders throughout the year, promoting specific categories of "Made in India" gems and jewellery.

IJEX aims to generate business by bringing together buyers and manufacturers from various regions, including the Middle East market, North Africa, CIS countries, and beyond. The facility allots ten cubicles on a first-come, first-serve basis for three months, and at the time of inauguration, eight out of ten cubicles were occupied by business houses. Transguard group provides logistics services in setting up the expo.

The inauguration of IJEX was followed by a multi-sectoral event, commemorating one year of India-UAE CEPA, organized by the GJEPC in Dubai, where around 100 companies from India and UAE, including representatives of various Export Promotion Councils (EPCs), participated. Srikar Reddy announced that the government of India has decided to organize reverse buyer-seller meets in Dubai, previously only allowed to be held in India, considering the importance accorded to UAE and the success of CEPA. Ambassador Sunjay Sudhir reiterated that the concept of CEPA goes beyond trade, including people-to-people contacts, software, promotion of Bollywood, and tourism. Juma Al Kait gave detailed statistics of the year-on-year trade increase with India and UAE, after CEPA.

India is the leader in cut & polished diamonds, with 14 out of 15 diamonds set in jewellery worldwide being processed in India. It is the 4th largest exporter of gold jewellery, the 2nd largest exporter of silver jewellery, and the fastest emerging lab-grown diamond manufacturer in the world. The industry currently employs over 5 million workers. To meet the ever-increasing demand for gems and jewellery, India is taking a series of steps that include the establishment of a Gem Bourse in Jaipur, a Jewellery Park, and a Mega Common Facility Centre in Mumbai.

Exports from India to UAE registered a multi-year high, increasing from 28 billion US$ to 31.3 billion US$ during the April-March period, an increase of around 3.3 billion US$ or 11.8% year-on-year growth. The Gems & Jewellery sector is among the industries that have gained remarkably from CEPA. India's exports in this sector witnessed an impressive growth of 16.5% in 2022-23. UAE has accounted for 80% of India's plain gold jewellery exports. However, post CEPA, all the verticals.