Transguard, a part of the Emirates Group, signed an exclusive deal with the Gem and Jewellery Export Promotion Council of India (GJEPC), the autonomous, apex body of the industry with more than 9,000 members. With this deal, Transguard will provide end-to-end logistics support – from round-the-clock transportation and door-to-door services to vault management and the safe storage of diamonds and jewellery. The division routinely and securely transports billions of dollars’ worth of gems, jewellery, cash and other valuables in a year.
GPJEC has set up its first international office, the India Jewellery Exposition (IJEX) centre, in Dubai Gold Souk in Deira. Its members will use the space to exhibit and showcase the rarest and finest gems and jewels India has to offer. Transguard will ensure unparalleled logistics and management, including the safe check-in and check-out process of gems and jewellery.
As part of the agreement, Transguard will fully insure all exhibitors’ products stored in the vault. The team is expected to handle diamonds, jewellery and gems worth around Dh100 million this year, with exponential growth predicted in the next three years as trade between India and Dubai continues to boom. India’s gems and jewellery exports to the UAE grew by a whopping 16.54 per cent to $5.77 billion in 2022-23.
Exhibitors visiting Dubai can expect a seamless Customs process. Through Transguard’s unique arrangement with Dubai Customs, duty and VAT will be collected, only on sold items, at the end of the exhibition.
Rabie Atie, senior vice-president of Transguard, said: “We have built a robust reputation for providing efficient, risk-free, safe and secure services that lead to a stress-free customer experience. We’re extremely proud of being involved with the very first shipment that arrived in Dubai under the CEPA agreement. Our partnership with GJEPC is a bellwether of the larger and growing India-UAE trade ties, which will further boost both economies.”
Sabyasachi Ray, executive director of the Gem & Jewellery Export Promotion Council of India, said: “We were seeking a strong and dependable partner in Dubai to offer the logistics services to our members exhibiting at India Jewellery Exposition (IJEX) Centre. Transguard was the obvious choice, being a Dubai Government entity who is renowned in the UAE as a reliable provider of business support and outsourcing services.
“The IJEX Centre is a crucial initiative that seeks to capitalise on the advantages of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE. The pact has opened up numerous prospects to enhance trade between the two nations. Especially, it has been highly beneficial for the Indian jewellery sector, resulting in multi-fold increase in plain gold jewellery exports to the Middle East. By teaming up with Transguard, IJEX aims to ensure our members have complete confidence in the logistics support process.”