GJEPC hosted a webinar on the subject “How to Manage Your Logistics in the Middle East Market” on 15th May with the aim of giving exporters valuable insights into the UAE’s emerging role as a global leader in secured logistics, especially for valuables such as diamonds, gold, and luxury goods.
In a session moderated by Ashish Sakhardande, Head – IJEX, India Jewellery Expo, guest speaker Girish Mathrani, Business Development Manager at Transguard, presented an overview of Dubai’s robust infrastructure and strategic advantages, and the company’s role as logistics partner for GJEPC’s India Jewellery Exposition Centre (IJEX) in Dubai’s Gold Souk.
The UAE is a major gold trading hub, with gold exports contributing AED 218.3 billion to non-oil foreign trade in H1 2023. Dubai also leads in rough diamond trading, with a combined value of rough and polished diamonds at $38.3 billion in 2023. India’s bilateral trade with the UAE reached $85 billion in 2022-23, with gems and jewellery trade alone constituting $20.56 billion.
Mathrani explained the role played by Transguard, which provides secured logistics services for high-value items, including import/export Customs clearance, air freight forwarding, secured storage and transportation, insurance, and international exhibition management.
IJEX serves as a gateway for Indian gem and jewellery trade into the MENA region. Managed by Transguard, IJEX allows duty suspension for marketing purposes and supports re-exports to non-GCC countries, he noted.
Mathrani said that under Transguard arrangements, shipments cleared under Temporary Admission (duty suspension) can stay in UAE for a maximum period of 165 days from the date of entry. Transguard is working closely with the respective authorities in UAE to design a solution for sale of goods under Temporary Admission which will be announced in due course, he noted.
Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.
