Dubai gold jewellers target Indian buyers with new designs amid import duty cut

Dubai jewellers are exploring new strategies to win back South Asian gold buyers, from importing fresh designs from international markets to creating pieces locally. Dealers are trying to introduce new models that are unique for South Asians, such as fresh Italian, Singaporean, and local designs

Since India reduced import duty on gold from 15 per cent to 6 per cent last year, the lowest level in over a decade, jewellery has lost shine for Indian tourists in the UAE.

South Asian tourists and residents account for a large chunk of gold and jewellery purchases in Dubai, especially during festivals like Akshaya Tritiya and Diwali. Dubai gold jewellers target Indian buyers with new designs amid import duty cut

Dealers are trying to introduce new models that are unique for South Asians, such as fresh Italian, Singaporean, and local designs. Gold prices hit a record high in Dubai and globally last week, driven by the US tariff war, central bank buying and expectations of interest rate cuts.

Turkish jewellery is coming into Dubai and UAE and there is a resurgence of Calcutta, Temple and enamel jewellery designs as well. Dubai is attracting gold jewellery buyers from many other countries such as China, Singapore, the Far East, Africa and Europe.