Dubai taps India's jewellery sector

There is potential to increase the scope and volume of gems and jewellery trade between Dubai and India, said Omar Khan.

The Dubai Chamber of Commerce and Industry recently concluded a study mission to India, which explored business opportunities in the country's gems and jewellery sector.

The study mission included visits to Mumbai and Delhi and coincided with the India International Jewellery Show, where the Dubai Chamber hosted a seminar attended by 120 delegates. The seminar featured presentations by Omar Khan, Dubai Chamber's director of international offices, and the Dubai Multi Commodities Centre (DMCC), which focussed on the advantages of doing business in Dubai.

During the event, Khan noted that pearls and precious stones are the most traded products between Dubai and India, with the total value of bilateral trade in this category amounting to $16 billion in 2017. He explained that Dubai remains a leading trading hub for various types of commodities, such as gold, diamonds, metals and precious stones that are traded through the emirate.

"There is tremendous potential to increase the scope and volume of gems and jewellery trade between Dubai and India. During the study mission, we identified several high-potential areas for boosting and diversifying bilateral non-oil trade, including electric and equipment and appliances, engineering, technology, retail, franchising and healthcare," Khan said.

He noted that Dubai Chamber recently opened a representative office in Mumbai, which serves as a gateway for UAE companies to explore business opportunities in India, and added that the office is focusing its efforts on attracting Indian companies to Dubai.
He encouraged Indian businessmen attending the event to visit Dubai, participate in various trade shows and exhibitions taking place in the emirate throughout the year, and explore prospects for business partnerships with UAE companies.

In addition, Khan and representatives from Dubai Chamber's India office held several meetings with key public and private sector stakeholders in Mumbai and Delhi, as well as businessmen from Dubai-based companies that operate in India. Discussions focused on strategic plans adopted by various stakeholders and prospects for future cooperation. - Wam