Thanks to the UAE-India CEPA deal (Comprehensive Economic Partnership Agreement), India’s Malabar Gold & Diamonds has been able to consolidate all of its international operations in Dubai, through a swanky 28,000 square feet facility at the Deira Gold Souk Ext.
Now, Malabar Gold & Diamonds, which has 70 plus outlets in the UAE, will handle all its Far East and North American operations through Dubai. Earlier, this was done through the company’s Singapore and US offices.
Shamlal Ahamed, Managing Director for International Operations said: “With the UAE-India CEPA deal, it’s easier to source all the jewellery requirements from our factories in India at 0 per cent import duty into Dubai. This can then be re-exported to our network stores in the Far East and North America, with the benefit of this zero import duty into UAE.”
Another big win after the CEPA has seen the company do jewellery making for third parties, and pass on the benefits of the zero import duty.
"These clients provide the designs and we make them at our facilities in India to those specifications. The CEPA deal has opened up many possibilities for Indian jewellers with bases in Dubai and UAE," added Ahamed.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
Now, Malabar Gold & Diamonds, which has 70 plus outlets in the UAE, will handle all its Far East and North American operations through Dubai. Earlier, this was done through the company’s Singapore and US offices.
Shamlal Ahamed, Managing Director for International Operations said: “With the UAE-India CEPA deal, it’s easier to source all the jewellery requirements from our factories in India at 0 per cent import duty into Dubai. This can then be re-exported to our network stores in the Far East and North America, with the benefit of this zero import duty into UAE.”
Another big win after the CEPA has seen the company do jewellery making for third parties, and pass on the benefits of the zero import duty.
"These clients provide the designs and we make them at our facilities in India to those specifications. The CEPA deal has opened up many possibilities for Indian jewellers with bases in Dubai and UAE," added Ahamed.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
