The India-Oman Comprehensive Economic Partnership Agreement (CEPA) has opened a new chapter for India’s gems and jewellery exports, with the first gold jewellery shipment departing from Kolkata to Oman under the landmark trade pact. The development establishes a direct duty-free export corridor from Eastern India to Oman, strengthening bilateral trade relations and creating fresh opportunities for Indian jewellery exporters.
Quick Summary
- First gold jewellery shipment from Kolkata to Oman dispatched under India-Oman CEPA.
- CEPA came into force on 1 June 2026.
- Indian gold jewellery and diamonds now enjoy duty-free access to the Omani market.
- The maiden consignment was exported by Wonder Jewels, Kolkata.
- Industry expects exports to Oman to grow from USD 35 million to nearly USD 150 million over the next three years.
- Direct exports will reduce reliance on intermediary trade routes.
- Eastern India gains a stronger role in the country’s jewellery export ecosystem.
- GJEPC expects the agreement to enhance India’s competitiveness in the Gulf region.
First Gold Jewellery Shipment Departs from Kolkata
In a significant milestone for India’s gems and jewellery sector, the first shipment of gold jewellery from Kolkata to Oman under the India-Oman Comprehensive Economic Partnership Agreement (CEPA) was dispatched today, marking the commencement of direct duty-free exports from Eastern India to the Sultanate of Oman. The maiden consignment, exported by Kolkata-based jewellery manufacturer Wonder Jewels, was flagged off in the presence of Smt. Arti Saxena, IRS, Commissioner of Customs, Kolkata (Airport & Air Cargo Complex) and Shri Pankaj Parekh, Regional Chairman, Eastern Region, GJEPC and other officials.
Duty-Free Access Strengthens Export Competitiveness
The India-Oman CEPA, which came into force on 1 June 2026, provides duty-free access for Indian gold jewellery and diamonds in the Omani market, enhancing the competitiveness of Indian products and creating new opportunities for exporters. The agreement is expected to strengthen direct trade links between the two countries while reducing dependence on intermediary trade routes.
Oman Emerges as a Promising Jewellery Export Market
Oman represents a promising destination for Indian gems and jewellery exports. India’s exports of gems and jewellery to Oman currently stand at around USD 35 million, including approximately USD 10 million in gold jewellery exports. Industry estimates indicate that exports to Oman could increase to nearly USD 150 million over the next three years, driven by improved market access and growing demand for Indian jewellery in the region.
GJEPC Chairman Highlights Benefits of Trade Agreements
Commenting on the development, Shri Kirit Bhansali, Chairman, GJEPC, said:
“We have already witnessed the positive impact of India’s trade agreements, particularly the India-UAE CEPA and the India-Australia ECTA, in expanding market access and creating new opportunities for our exporters. Despite geopolitical uncertainties and the challenges posed by evolving tariff regimes during FY 2025-26, the gems and jewellery sector delivered exports of nearly USD 28 billion, reflecting the resilience of the industry and the benefits of market diversification. We are confident that the India-Oman CEPA will further strengthen India’s presence in the Gulf region and open new avenues for export growth. We thank the Government of India for its continued efforts to secure trade agreements that support the growth and global competitiveness of our industry.”
Eastern India Gains New Export Opportunities
Shri Pankaj Parekh, Regional Chairman, Eastern Region, GJEPC, said,
“The first shipment from Kolkata under the India-Oman CEPA highlights the growing role of Eastern India in India’s gems and jewellery export ecosystem. Direct duty-free access to the Omani market will eliminate the need for costly routing through the UAE, making Indian jewellery more competitive while enabling faster deliveries and greater efficiency. The agreement opens up new business opportunities for exporters from the region, and we expect this development to encourage more companies to explore Oman and the wider Gulf market.”
CEPA Expected to Strengthen Bilateral Trade
Industry stakeholders believe the India-Oman CEPA will further strengthen bilateral trade and position Oman as an important gateway for Indian jewellery exports to the wider Gulf region.
FAQs
What is the India-Oman CEPA?
The India-Oman Comprehensive Economic Partnership Agreement (CEPA) is a trade agreement that provides duty-free market access for several products, including Indian gold jewellery and diamonds exported to Oman.
When did the India-Oman CEPA come into force?
The agreement came into force on 1 June 2026.
Which company exported the first shipment under the agreement?
The maiden gold jewellery consignment was exported by Kolkata-based jewellery manufacturer Wonder Jewels.
Why is this shipment significant?
It marks the beginning of direct duty-free exports of gold jewellery from Eastern India to Oman, creating a new export corridor and improving trade efficiency.
How much are India’s current gems and jewellery exports to Oman?
India’s gems and jewellery exports to Oman currently stand at around USD 35 million, including approximately USD 10 million in gold jewellery exports.
What export growth is expected from the agreement?
Industry estimates suggest exports to Oman could rise to nearly USD 150 million over the next three years due to improved market access and growing demand.
How will exporters benefit from the CEPA?
Exporters will gain duty-free access to the Omani market, reduced dependence on intermediary trade routes, improved competitiveness and faster delivery timelines.
Source: SVAR Media Network
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