Estimated to handle US$ 27.25mn worth of gems and jewellery in 2023
Transguard has recently 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.
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 AED 100mn (US$ 27.25mn) this year, with exponential growth predicted in the next three years as trade between India and Dubai continues to boom.
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, a press communique stated.
“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,” commented Rabie Atie, Senior Vice President, Transguard.
“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,” remarked Sabyasachi Ray, Executive Director, GJEPC.