Malabar Gold Ships First UK Jewellery Under India-UK Trade Pact

The pact gives Indian jewellers a tariff advantage in the UK market, where demand for gold jewellery is strong, GJEPC officials said. The deal, signed in 2024, reduces duties on finished jewellery imports from India, making them more competitive against local and other foreign suppliers. Indian jewellery exports to the UK have been growing, and the trade agreement could accelerate that trend, the officials added.

Malabar Gold & Diamonds, one of the world's largest jewellery retailers by store count, plans to open more than 30 new showrooms in the UK, the US, Canada and other Western markets under its Western Value Chain strategy, Ahammed said. The company already operates showrooms in those countries and sees the UK as a key growth market.

The first export comes as India pushes for more trade agreements with developed economies. The UK deal covers goods, services and investment. For the Indian jewellery sector, the tariff advantage could help offset rising gold prices and labour costs, GJEPC officials said. The council has been working with jewellers to explore new markets under the pact.

Ahammed said the export marks "the beginning of stronger trade relations" between the two countries, with more shipments expected in coming months.