Latest news with #DubaiGoldandJewelleryGroup
Arabian Post
10-08-2025
- Business
- Arabian Post
Gulf Emerging as Key Hub for Indian Jewellery Exports
Arabian Post Staff -Dubai The Gulf region is fast becoming a significant alternative hub for Indian jewellery manufacturing and exports, spurred by rising trade tensions between the US and India. Experts point to the growing challenges faced by Indian jewellers, particularly as American tariffs on Indian imports climb in response to geopolitical factors, including India's continued oil purchases from Russia. The latest move by the US, led by an executive order from President Donald Trump, has intensified trade uncertainties. The executive order, signed on Wednesday, introduces a hefty 25 per cent tariff on Indian goods, with specific implications for the jewellery sector. This tariff hike, effective in three weeks, increases the overall tariff burden on Indian imports to 50 per cent—one of the highest rates the US has imposed on its trading partners. For years, India has been the global leader in jewellery manufacturing, with a robust presence in the international market, particularly in the US. However, the imposition of punitive tariffs has forced many Indian jewellers to rethink their export strategies. The Gulf region, traditionally a key market for Indian gold and precious stones, is now gaining prominence as a strategic manufacturing base, offering a more favourable trade environment. ADVERTISEMENT The decision to shift operations to the Gulf is driven by a combination of factors, including the region's strategic geographic position and its trade agreements with major markets. Countries like the UAE and Bahrain have long been involved in the jewellery trade, but as tariffs increase on Indian exports to the US, their roles are now being redefined. Experts suggest that the Gulf's advanced infrastructure, coupled with an array of free trade agreements, makes it an attractive destination for manufacturing and re-exporting high-end jewellery to global markets, including the US. The Dubai Gold and Jewellery Group, one of the region's leading jewellery trade bodies, has welcomed the shift, noting the opportunities it presents for growth. The UAE, in particular, has developed an attractive ecosystem for jewellery manufacturers, offering tax incentives, access to advanced technology, and a well-established logistics network. These benefits make it an appealing alternative for Indian jewellers seeking to bypass the punitive tariffs imposed by the US. India's reliance on the US market for jewellery exports, particularly in the high-end sector, has been significant. However, as the tariff burden becomes heavier, companies are exploring alternatives that provide both cost-effectiveness and access to lucrative international markets. Several large manufacturers have already established bases in the UAE, with plans to expand their operations further into the region. A noteworthy trend is the increasing collaboration between Indian and Gulf-based jewellery firms. These partnerships are focused on expanding manufacturing capabilities while reducing reliance on traditional export routes. The UAE, with its business-friendly policies, is proving to be an ideal locale for jewellery production, particularly for smaller-scale businesses that are unable to absorb the full impact of the US tariffs. One of the key drivers of this shift is the growing US demand for luxury goods, including jewellery. The tariff hike, while discouraging direct exports from India, has not dampened the appetite for high-quality jewellery. Instead, it has prompted companies to explore alternative routes to meet this demand. Experts point out that the Gulf provides a strategic advantage for such businesses, offering them the flexibility to maintain their competitive edge without the added burden of trade barriers. ADVERTISEMENT The Gulf's importance in the global jewellery trade has long been overlooked in favour of established centres like India. However, as geopolitical tensions continue to shape trade flows, the region's position as a central player in the jewellery manufacturing process is becoming more evident. Industry insiders predict that over the next few years, the Gulf's jewellery manufacturing and export capabilities will only grow stronger, reshaping the global jewellery supply chain. For Indian jewellery manufacturers, the shift to the Gulf represents a broader strategy to diversify their risk exposure. By establishing a presence in markets that are less susceptible to abrupt policy changes, Indian companies are better positioned to mitigate the impact of volatile geopolitical situations. The expansion of Gulf-based jewellery production also ensures that India maintains a foothold in the lucrative US market, even as tariffs continue to escalate.
Khaleej Times
19-06-2025
- Business
- Khaleej Times
Dubai: Dh5 million grand prize, luxury cars on offer at summer surprises this year
Shoppers at this year's Dubai Summer Surprises (DSS) event will have the chance to win a grand prize of Dh5 million, luxury cars, gold coins and electronics among other prizes. The event, which will extend from June 27 to August 31 this year, will also have unique experiences, concerts and dining deals. 'This year, we have one final prize of Dh5 million which will be announced on August 31,' said said Abdalla Al Ameeri, AVP of Raffles and Retail Promotions & Strategic Alliances. 'We are also partnering with Dubai Gold and Jewellery Group to give away 30 gold coins, each coin will weigh 12 grams with the icon of Modhesh on it. So every week, we'll announce three winners.' Last year, DSS gave away a total of Dh10 million worth of gifts. This year, the total worth of prizes have been increased by 50 percent. Bigger and better According to organisers, the festival which will be 'bigger, bolder and better', will also be organized in a unique way this year. For the first time in DSS history, the festival will unfold in three retail units. From June 27 to July 17 will be the Summer Holiday Offers, followed by the Great Dubai Summer Sale. 'The Great Dubai Summer Sale is going to be, like, the main event this season,' said Mohamad Feras, AVP Retail & Strategic Alliances at Dubai Festivals and Retail Establishment (DFRE). 'It's going to be a three-week super-sales season, where retailers will provide 90 percent discount. During this event, we're giving away a Dh1 million cash prize, a luxury car and many more prizes across the full three weeks.' This will be followed by almost three weeks of the Back to School campaign, which will give shoppers the opportunity to win several prizes including school fees and scholarships.
