GJEPC Explores New Export Opportunities Across Europe During Hon’ble CIM’s Trade Mission to UK & Greece
GJEPC strengthened its European outreach by joining the high-level Indian business delegation led by Hon’ble Union Minister of Commerce & Industry Shri Piyush Goyal on his official visit to the United Kingdom (25–27 June) and Greece (29–30 June).
The multi-country trade mission focused on expanding bilateral trade, improving market access and unlocking fresh opportunities for Indian gem and jewellery exporters across Europe, covering both the established UK market and Greece’s emerging role as a gateway to Southern Europe.
During the UK visit, discussions revolved around maximising the benefits of the recently concluded India-UK Comprehensive Economic and Trade Agreement (CETA). Representing GJEPC, Shaunak Parikh, Vice Chairman, participated in business engagements aimed at enhancing India’s position in the UK’s US$17.5 billion jewellery market, a key global destination for luxury and bridal jewellery.
Shaunak Parikh, Vice Chairman, GJEPC, said, “It is an honour to be part of the business delegation accompanying Hon’ble Commerce & Industry Minister Shri Piyush Goyal during this landmark phase of the India-UK economic partnership. The India-UK FTA is more than a trade agreement—it is a catalyst for growth. It strengthens the global competitiveness of ‘Made in India’ jewellery by providing improved market access and a level playing field. We anticipate jewellery exports to the UK reaching nearly USD 2.5 billion, while bilateral gem and jewellery trade could grow to approximately USD 7 billion, generating significant opportunities for manufacturing, value addition and employment across India’s jewellery sector.”
GJEPC also urged the Government to pursue India’s accession to the Vienna Convention on Hallmarking, which would allow international recognition of BIS hallmarking. The Council believes this would eliminate the need for repeated assaying and hallmarking in export markets, lowering compliance costs, reducing delivery timelines and particularly benefiting MSME exporters.
In addition to policy discussions, the delegation participated in sector-focused roundtables, business meetings and networking sessions with British companies spanning consumer goods, advanced manufacturing, technology, logistics and services, reflecting the growing breadth of India-UK commercial cooperation.
The delegation then travelled to Athens, where GJEPC highlighted Greece’s potential as a strategic entry point to Southern Europe. Although India’s gem and jewellery exports to Greece currently total US$1.65 million, the Council sees considerable growth potential due to Greece’s strategic location, maritime connectivity and access to the wider European Union market.
The Greece programme included meetings with Fokion Karavias, CEO of Eurobank, along with government representatives and industry leaders to strengthen investment and business ties. A major highlight was the India-Greece Business Forum hosted by the Athens Chamber of Commerce and Industry, where Shri Ravi Shankar, Ambassador of India to Greece, addressed delegates alongside senior government officials and business leaders. During the sectoral sessions, Shaunak Parikh represented India’s gem and jewellery industry, showcasing opportunities to expand bilateral trade and position Greece as a key gateway to Southern Europe. Discussions covered trade, digitalisation, infrastructure, defence, and gem and jewellery, reflecting the expanding scope of India-Greece economic cooperation.
The delegation also included leading executives from Indian industry, including Sanjay Tugnait, President & CEO of Fairfax Digital Services, reinforcing the government’s collaborative approach to strengthening commercial engagement across Europe.
With a population of 10.3 million and merchandise imports valued at approximately US$93 billion, Greece presents Indian exporters with access to a mature European economy while offering a strategic route into Southern Europe. GJEPC’s market assessment identifies Greece as an underexplored destination where targeted business-to-business initiatives can create long-term export opportunities for Indian jewellery manufacturers.
The visit also coincides with deepening India-Greece relations. Since both countries elevated their ties to a Strategic Partnership in 2023, cooperation has expanded across trade, investment, defence, digital technologies and innovation. The launch of the India-Greece Business Council in 2025 has further strengthened institutional collaboration, providing a dedicated platform to advance long-term industry partnerships.