India has also retained its position as DMCC’s largest international business community, accounting for more than 15% of the organization’s total member companies.

Announcement Made During Made For Trade Live Roadshow

The latest figures were unveiled during DMCC’s Made For Trade Live roadshow held in Pune and Mumbai, where the organization engaged with entrepreneurs, investors and business leaders seeking opportunities to expand their operations globally through Dubai.

The two-city event attracted approximately 250 business leaders, entrepreneurs and investors, with discussions focusing on international business expansion, evolving global trade trends and the strategic advantages of establishing a presence in Dubai.

UAE-India Trade Continues to Reach New Milestones

The announcement comes as economic cooperation between the United Arab Emirates (UAE) and India continues to gain momentum.

Since the Comprehensive Economic Partnership Agreement (CEPA) came into force in 2022, bilateral trade between the two countries has increased by nearly 37%, crossing USD 100 billion for the first time last year.

Non-oil trade has also exceeded USD 65 billion, reaching the original CEPA target five years ahead of schedule. The UAE and India are now aiming to double bilateral trade to USD 200 billion by 2032.

DMCC Highlights India’s Growing Global Business Presence

Ahmed Bin Sulayem, Executive Chairman and CEO, DMCC said:

“The UAE and India have built one of the world’s fastest-growing economic partnerships, and the continued expansion of our Indian business community reflects that momentum. Today, more than 4,080 Indian companies have chosen DMCC as their international base, representing 9% growth over the past 12 months, making India our largest overseas business community. From technology and finance to precious stones, precious metals, maritime services, and agri-commodities, Indian businesses are increasingly using Dubai as a platform to expand internationally. As our two countries work towards the shared ambition of USD 200 billion in bilateral trade by 2032, we see significant opportunities to deepen trade, investment, and commercial collaboration.”

Indian Companies Drive Growth Across Multiple Sectors

Indian businesses within DMCC continue to strengthen their presence across several high-growth industries, including technology, precious stones, precious metals, finance, maritime services, energy and agri-commodities.

The steady rise in Indian membership reflects the growing confidence of companies using Dubai as a strategic gateway to access regional and international markets.

DMCC Strengthens Dubai’s Position as a Global Business Hub

Home to more than 26,000 member companies, DMCC remains one of Dubai’s leading international business districts. The organization contributes approximately 15% of Dubai’s annual foreign direct investment (FDI) and around 7% of the emirate’s GDP, providing businesses with specialized ecosystems, modern infrastructure and global market connectivity to support long-term growth.

The latest increase in Indian membership further highlights the deepening commercial partnership between the UAE and India, with both countries continuing to expand trade, investment and cross-border business opportunities.

FAQs

1. How many Indian companies are currently registered with DMCC?
DMCC has announced that more than 4,080 Indian companies are now part of its international business district, following the addition of over 330 new Indian businesses during the past 12 months.

2. Why is India an important market for DMCC?
India is DMCC’s largest international business community, representing more than 15% of its total member base. Indian companies are active across key industries such as technology, precious stones, precious metals, finance, maritime services, energy and agri-commodities.

3. What role does the UAE-India CEPA play in this growth?
Since the Comprehensive Economic Partnership Agreement (CEPA) came into effect in 2022, bilateral trade between the UAE and India has increased by nearly 37%, crossing USD 100 billion and creating greater opportunities for businesses expanding through Dubai.

4. What was the purpose of DMCC’s Made For Trade Live roadshow?
The Pune and Mumbai roadshows brought together business leaders, entrepreneurs and investors to explore international expansion opportunities through Dubai while highlighting the benefits of establishing operations within DMCC’s global business ecosystem.

5. How significant is DMCC’s contribution to Dubai’s economy?
DMCC is home to more than 26,000 member companies and contributes around 15% of Dubai’s annual foreign direct investment (FDI) and approximately 7% of the emirate’s GDP, making it one of the region’s most influential business districts.

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Africa’s First Sister-Hub Trading Corridor

The partnership marks a significant step in expanding trade and investment links between the UAE and Botswana, establishing Africa’s first sister-hub trading corridor between Dubai and Gaborone while supporting Botswana’s economic diversification agenda and ambitions to increase the global reach and value of its commodity exports. It also seeks to establish a dedicated and physical Botswana presence within DMCC’s commodity ecosystem.

Expanding Global Market Access for Botswana’s Commodities

The collaboration focuses on improving international trading opportunities for Botswana-origin commodities through cooperation in market access, trade finance, logistics, vaulting, digital infrastructure, capacity building and knowledge exchange.

The partnership covers several key export sectors, including:

• Diamonds
• Copper
• Coal
• Soda Ash
• Critical Minerals
• Beef
• Agricultural Products

The initiative is also designed to strengthen Botswana’s position in global commodity value chains by connecting producers directly with international buyers, investors, institutional capital and Islamic finance markets. In addition, both organizations will deepen cooperation to promote the natural diamond industry through the Luanda Accord and the Natural Diamond Council.

MoU Signed by DMCC and Botswana Stock Exchange Leaders

The Memorandum of Understanding was signed by:

• Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC
• Neo Mooki, Chairperson of the Botswana Stock Exchange Group

Botswana Government Highlights Economic Transformation Goals

Hon. Bogolo Joy Kenewendo, Minister of Minerals and Energy of the Republic of Botswana, said the partnership represents an important step in Botswana’s efforts to maximize value from its mineral and commodity resources.

She stated that as Botswana advances its economic transformation agenda, the country remains focused on sustaining production, improving market access, attracting investment, promoting beneficiation and strengthening its role in global value chains. She added that the collaboration with DMCC and the Botswana Stock Exchange Group will help connect Botswana’s diamonds, copper and critical minerals with international markets while creating opportunities for innovation, trade finance and sustainable economic growth.

DMCC Sees New Investment Opportunities

Ahmed Bin Sulayem said Botswana is one of the world’s leading commodity-producing nations and that the partnership reflects a shared ambition to unlock greater value from Botswana’s resources, including diamonds, copper and beef, through stronger international market access.

According to him, combining Botswana’s production capabilities with Dubai’s global trade, finance and logistics ecosystem will create new investment opportunities, improve access to international buyers and institutional capital, and support long-term economic growth.

Botswana Stock Exchange Group on the Partnership

Neo Mooki said the agreement represents a transformative milestone for Botswana as a commodity producer and reinforces the Botswana Mercantile Exchange’s ambition to become a significant participant in the commodities market.

He noted that the partnership connects Botswana’s strengths in diamonds, minerals, agriculture and livestock with one of the world’s leading commodity trading ecosystems, creating new opportunities for producers, investors and market participants while supporting Botswana’s economic diversification.

Focus on Digital Finance and Commodity Infrastructure

The two organizations will also explore the use of DMCC FinX, DMCC’s digital financial infrastructure, to improve access to trade finance and expand investment into Botswana-origin commodities through emerging digital asset technologies.

The initiative will include:

• Shariah-compliant Islamic finance instruments
• Tokenisation of physical commodity parcels as Real World Assets (RWAs)

These measures are intended to create new opportunities for global institutional investment into African commodity value chains.

Global Good Delivery Standard to Support Commodity Trade

The partnership will also examine opportunities to develop internationally recognized standards and infrastructure to support commodity trade across Africa.

Under the agreement, the Botswana Mercantile Exchange vault in Gaborone is expected to become the first facility certified under the DMCC Global Good Delivery Standard (GGDS), a multi-commodity vault certification framework designed to improve cross-border trade, transparency and commodity financing across emerging markets.

Diamond Tenders to Connect Botswana and Dubai

One of the first initiatives under the agreement is expected to link the Okavango Diamond Company (ODC) with the Dubai Diamond Exchange (DDE) through coordinated diamond tenders.

The initiative will establish a direct commercial connection between Botswana’s diamond production and Dubai, with the first commercial tenders expected to begin in late 2026.

Agreement Signed During World Diamond Congress

The Memorandum of Understanding was signed in Singapore following the 41st World Diamond Congress, where DMCC participated alongside members of the global diamond industry and hosted the Singapore launch of its Future of Trade 2026 report.

The agreement marks another step in expanding trade and investment links between the UAE and Botswana while supporting Botswana’s objective of increasing the global reach and value of its commodity exports.

FAQs

1. What is the purpose of the MoU between DMCC and the Botswana Stock Exchange Group?

The agreement aims to strengthen Botswana’s access to global commodity markets by connecting its emerging commodities exchange with Dubai’s international trade, finance and logistics ecosystem.

2. What is Africa’s first sister-hub trading corridor?

The partnership establishes Africa’s first multi-commodity sister-hub trading corridor between Dubai and Gaborone to facilitate international commodity trade and investment.

3. Which Botswana commodities are covered under the partnership?

The collaboration includes diamonds, copper, coal, soda ash, critical minerals, beef and agricultural products.

4. What digital initiatives are included in the agreement?

The organizations will explore DMCC FinX, Shariah-compliant Islamic finance instruments and the tokenisation of physical commodity parcels as Real World Assets (RWAs) to improve trade finance and investment access.

5. What is the first commercial initiative planned under the MoU?

The first initiative is expected to connect the Okavango Diamond Company (ODC) and the Dubai Diamond Exchange (DDE) through coordinated diamond tenders, with the first commercial tenders anticipated in late 2026.

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Dubai Diamond Trade Hits Historic High in 2025

DMCC announced on 13 July 2026 that Dubai achieved record-breaking diamond trade in 2025, with total trade value increasing 16.2% year-on-year from 35.8 billion US dollars in 2024 to 41.7 billion US dollars.

The city also traded a record 359.5 million carats, representing a 42.5% increase compared with the previous year. According to DMCC, this is the first time Dubai has simultaneously recorded all-time highs in both the value and physical volume of diamond trade.

Natural Diamonds Continue to Dominate the Market

Natural diamonds remained the largest contributor to Dubai’s diamond trade, generating 39.9 billion US dollars during 2025 and accounting for 95.8% of the total trade value.

Trade in natural rough diamonds reached 205.2 million carats, making it the second-highest annual volume on record and approximately 34% higher than in 2024.

Meanwhile, natural polished diamond trade climbed to 18.7 billion US dollars, reflecting a nearly 25% year-on-year increase. DMCC noted that the value of natural polished diamond trade has risen 246% since 2020, while the average value per carat has increased by roughly eight to nine times over the same period.

Diamond Trade Has Expanded Significantly Since 2020

According to DMCC, Dubai’s diamond sector has witnessed strong long-term growth. Since 2020, total diamond trade through Dubai has increased 139% in value and 100% in physical volume, highlighting the emirate’s expanding role in connecting diamond-producing countries, manufacturing centres and consumer markets.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said the latest figures reflect Dubai’s long-term strategy of building a connected, transparent and efficient ecosystem for the global precious stones industry. He added that the city continues to provide infrastructure, regulatory certainty, financial access and specialised services for producers, manufacturers, traders and retailers.

Coloured Gemstone Trade Also Sets New Record

Beyond diamonds, Dubai’s coloured gemstone trade also reached a historic milestone in 2025.

Trade in coloured gemstones climbed to 1.1 billion US dollars, representing a 48% year-on-year increase. Imports rose 68.8%, while re-exports advanced 33.5%, indicating growth in both sourcing and distribution activities.

Dubai Strengthens Its Position as a Global Diamond Hub

DMCC stated that Dubai’s diamond trade has increased 63% in value and 44% in volume over the past decade. The organisation also noted that synthetic and industrial diamonds together now account for around 39% of the total diamond carat volume traded through the emirate.

DMCC operates the Dubai Diamond Exchange (DDE), described as the region’s largest diamond tender facility, supported by an integrated ecosystem that includes secure logistics, customs facilitation, grading services, financial solutions, technology and specialised infrastructure.

FAQs

1. What record did Dubai achieve in diamond trade during 2025?

Dubai recorded its highest-ever diamond trade, reaching 41.7 billion US dollars and 359.5 million carats, surpassing the previous record set in 2011.

2. How much did Dubai’s diamond trade grow compared with 2024?

Total diamond trade increased 16.2% year-on-year in value, while the physical volume of diamonds traded rose 42.5% compared with 2024.

3. What share of Dubai’s diamond trade came from natural diamonds?

Natural diamonds generated 39.9 billion US dollars, accounting for 95.8% of Dubai’s total diamond trade value in 2025.

4. How did coloured gemstone trade perform in 2025?

Coloured gemstone trade reached a record 1.1 billion US dollars, rising 48% year-on-year, with imports increasing 68.8% and re-exports growing 33.5%.

5. What does DMCC say contributed to Dubai’s position in the global diamond trade?

According to DMCC, Dubai’s growth has been supported by its integrated ecosystem, including the Dubai Diamond Exchange, secure logistics, customs facilitation, financial services, grading, technology and specialised infrastructure.

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The leading international business district, which drives the flow of global trade through Dubai, said the initiative is designed to reduce operating costs, improve cash flow, and help businesses navigate an increasingly competitive economic environment.

DMCC Licence Renewal Discounts and Financial Incentives

The acceleration package includes a range of financial incentives and regulatory support measures aimed at enabling businesses to scale efficiently while maintaining long-term competitiveness.

For existing companies, DMCC is offering licence renewal incentives of up to 25% for multi-year commitments. The structure provides a 15% discount for two-year renewals, a 20% discount for three-year renewals, and a 25% discount for five-year renewals. Existing members looking to expand can also benefit from a 20% discount on additional licences.

Late Fees Slashed Up to AED 5,000

DMCC has also introduced a series of relief measures to reduce administrative burdens. These include waivers of penalties of up to AED 5,000 for late licence renewals and AED 1,000 for late Business Centre lease renewals. In addition, the organisation has temporarily eased certain administrative requirements and introduced operational flexibilities to support business continuity.

Further support is being extended to companies operating within the business district through workspace-related benefits. Non-Flexi Desk members can now transition to Flexi Desk facilities without paying security deposit charges or change-of-address fees, offering businesses greater flexibility in managing their office requirements.

Commenting on the initiative, Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said:

“Companies today are navigating a global business environment that is moving faster and becoming more competitive. Through this targeted acceleration package, DMCC is enabling our members to grow more efficiently and confidently by introducing greater flexibility across licence renewals, streamlining administrative processes and unlocking more effective use of existing resources. We are also creating clearer pathways for business expansion and new company formation, ultimately supporting our members scale more efficiently, strengthen their long-term resilience and continue pursuing new opportunities with ease in global markets.”

Up to 20% Off Multi-Year Licence Packages for New Businesses

Alongside measures designed to retain existing businesses, DMCC has introduced new incentives to attract companies seeking to establish operations within its ecosystem. New businesses can receive a 10% discount on one-year licence packages and a 20% discount on multi-year company set-ups, subject to certain programme exclusions.

Additional incentives have been introduced for companies establishing operations within DMCC Premium Offices at Jewellery & Gemplex. Eligible businesses can benefit from savings of more than 15% on one-year packages and more than 20% on multi-year commitments.

DMCC’s Premier Commercial Ecosystem

Jewellery & Gemplex remains one of DMCC’s most established commercial ecosystems, offering premium office infrastructure, strong connectivity, and a collaborative business environment designed to support long-term growth.

To further accelerate company formation, DMCC has enhanced its consultant incentive programme by increasing commission payments and extending eligibility across all successful registrations completed during the offer period.

DMCC Strengthens Long-Term Business Growth Strategy

According to DMCC, the initiative forms part of its broader strategy to continuously strengthen its value proposition by aligning support measures with real-time market dynamics. Collectively, the measures are expected to encourage new business inflows, support organic expansion, and reinforce Dubai’s standing as a premier global hub for trade and investment.

FAQ’s

1. What is DMCC’s new business acceleration initiative?
DMCC’s business acceleration initiative is a support package designed to help companies reduce operating costs, improve cash flow, and enhance business resilience through discounts, fee waivers, and operational flexibility.

2. What licence renewal discounts are available for existing companies?
Existing DMCC member companies can receive a 15% discount for two-year renewals, 20% for three-year renewals, and 25% for five-year licence renewal commitments.

3. What penalty waivers are included in the initiative?
DMCC is waiving penalties of up to AED 5,000 for late licence renewals and up to AED 1,000 for late Business Centre lease renewals to ease financial and administrative burdens on businesses.

4. What benefits are available for new businesses joining DMCC?
New companies can receive a 10% discount on one-year licence packages and a 20% discount on multi-year company set-ups. Additional savings are available for businesses establishing operations in DMCC Premium Offices at Jewellery & Gemplex.

5. How does this initiative support Dubai’s business environment?
The initiative is designed to attract new companies, encourage business expansion, improve competitiveness, and reinforce Dubai’s status as a leading global hub for trade, investment, entrepreneurship, and long-term economic growth.

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WHAT IS THE LUANDA ACCORD?

The Luanda Accord is a collaborative framework uniting diamond-producing governments and key industry stakeholders to support global generic marketing for natural diamonds. Led by the Natural Diamond Council, the Accord is built on the principle that sustaining consumer demand for natural diamonds requires shared responsibility and sustained investment across the entire value chain.

The Accord was formally launched at its inaugural high-level meeting in June 2025, bringing together producing countries and industry leaders from mining, manufacturing, and trading centres. Its core objective is to protect and promote the natural diamond category by ensuring that producing nations and downstream industry participants collectively contribute to telling the true story of natural diamonds—their rarity, authenticity, and positive socio-economic impact.

By signing the Luanda Accord, participants commit to supporting global category marketing efforts in alignment with agreed principles, recognising that no single country or organisation can carry the responsibility alone.

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WHAT WILL THIS MEAN OF REPUBLIC OF NAMIBIA?

At the second high-level meeting on 9 February 2026, the Government of the Republic of Namibia formally became a signatory to the Luanda Accord, joining Angola, Botswana, and the Democratic Republic of Congo. The move followed Namibia’s earlier expression of support in principle at the first meeting and the completion of all required governmental authorisations.

With a diamond industry dating back to 1908, Namibia is today the fifth largest diamond producer in the world by value and home to a significant cutting and polishing sector. Diamonds have long underpinned Namibia’s economic development, generating employment, supporting local communities, and providing government revenue for infrastructure, healthcare, and education.

Commenting on the decision, Honourable Modestus Amutse, Minister of Industries, Mines and Energy of the Republic of Namibia, said:

“Natural diamonds have helped shape Namibia’s economic story for more than a century, creating jobs, supporting communities, and contributing directly to national development. By joining the Luanda Accord, Namibia is affirming that producing countries have both a stake and a responsibility in telling the true story of natural diamonds. This is about ensuring that the value created by our resources continues to benefit our people, today and for generations to come.”

Following, Amber Pepper, CEO of the Natural Diamond Council, added:

“Namibia’s decision to formally join the Luanda Accord is a powerful signal of leadership from one of the world’s largest diamond-producing nations. Collective action is essential to protect the integrity and desirability of natural diamonds, and Namibia’s commitment strengthens our ability to tell the compelling story of their positive impact.”

HOW WILL THIS AFFECT INDIA?

India’s role in the global natural diamond industry came into sharper focus as the Gem & Jewellery Export Promotion Council (GJEPC) and the Natural Diamond Council signed a Memorandum of Understanding outlining a pathway for GJEPC to become a Natural Diamond Councilmember by 1 May 2026.

The MoU, signed by Shaunak Parikh, Vice Chairman, GJEPC, and Amber Pepper, CEO, Natural Diamond Council, is subject to agreement on financial contributions and the completion of legal and regulatory requirements. Accession by May 2026 would enable both organisations to collaborate ahead of the 2026 holiday season, a critical period for consumer demand.

On signing the MoU, Shaunak Parikh, Vice Chairman, GJEPC, said:

“India sits at the heart of the global natural diamond value chain, from cutting and polishing to a fast-growing domestic consumer market. Joining forces with the Natural Diamond Council reflects our belief that the future of natural diamonds depends on collaboration, transparency, and a shared commitment to building long-term consumer confidence.”

Welcoming the move, Amber Pepper, CEO of the Natural Diamond Council, added:

“GJEPC have long been a valued partner of the Natural Diamond Council. Their move toward membership deepens that partnership and strengthens our ability to reach the next generation of consumers with clear, compelling information about what makes natural diamonds rare, authentic, and meaningful.”

The move builds on GJEPC’s signature of the Luanda Accord in June 2025, reinforcing India’s commitment to collective action across the natural diamond value chain.

WHAT DOES IT MEAN FOR U.A.E.?

The United Arab Emirates’s Dubai Multi Commodities Centre (DMCC) further reinforced the momentum behind the Luanda Accord by signing a Letter of Intent reflecting its intention to become a member of the Natural Diamond Councilby 1 May 2026.

As the world’s largest diamond trading hub, Dubai plays a central role in linking African production with international markets. DMCC’s engagement highlights the importance of aligning trading centres with producer nations and global marketing efforts.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, commented:

“As the world’s largest diamond trading hub, DMCC is home to a leading community of companies operating across the global diamond trade. Our move toward membership in the Natural Diamond Council reflects our commitment to supporting this community, while also contributing to the continued growth and long-term stability of the natural diamond industry.

Strengthening the way natural diamonds are presented to consumers is key to building awareness and sustaining demand. We also recognise the important role African producing nations play in the industry and will continue to work with partners to help ensure the value generated supports economic progress in the countries and communities from which these resources originate.

By connecting production with international markets through Dubai, DMCC will continue to support a transparent, competitive, and future-focused diamond sector.”

Welcoming the move, Amber Pepper, CEO of the Natural Diamond Council, added:

“I welcome the opportunity to work with DMCC to ensure that the industry’s efforts to support the natural diamond sector are aligned and amplified around the world.”

Together, the accession of Namibia, the planned entry of GJEPC into the NDC, and DMCC’s commitment represent a significant step forward for the Luanda Accord and the Natural Diamond Council. The developments reflect a growing recognition that the long-term health of the natural diamond industry depends on unity across producers, manufacturers, traders, and retailers.

The Luanda Accord signatories and the Natural Diamond Council continue to call on all participants across the diamond value chain to support this initiative. As the industry looks ahead, the message from Cape Town is clear: only a shared vision—matched by sustained investment in consumer demand—can secure the enduring value of natural diamonds for generations to come.

FAQs

1. What is the Natural Diamond Council (NDC)?

The Natural Diamond Council is an industry body that leads global generic marketing and consumer education for natural diamonds. It works with producing countries, industry organisations and trade hubs to promote the rarity, authenticity and positive socio-economic impact of natural diamonds worldwide.

2. What is the Luanda Accord and why is it important?

The Luanda Accord is a collaborative framework that brings together diamond-producing governments and industry stakeholders to support global category marketing for natural diamonds. It is important because it ensures shared responsibility and sustained investment across the diamond value chain to protect long-term consumer demand.

3. Why is GJEPC joining the Natural Diamond Council significant?

GJEPC represents India, the world’s largest centre for diamond cutting and polishing and a rapidly growing consumer market. Its move toward Natural Diamond Council membership strengthens collaboration between manufacturing, retail and marketing efforts, helping build long-term consumer confidence in natural diamonds.

4. What does Namibia’s entry into the Luanda Accord mean for the diamond industry?

Namibia’s formal entry signals strong producer-country leadership. As the fifth-largest diamond producer by value, Namibia’s commitment reinforces the role of producing nations in funding and shaping global marketing efforts for natural diamonds and highlighting their economic and social impact.

5. How does DMCC’s involvement support the Natural Diamond Council’s mission?

As the world’s largest diamond trading hub, DMCC connects African production with global markets. Its planned membership in the Natural Diamond Council aligns trading infrastructure with global marketing and transparency efforts, strengthening demand and long-term stability for the natural diamond industry.

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Both organizations will convene industry stakeholders to address key challenges in both legitimate and illegal aspects of hand-carried gold. The initiative includes comprehensive research and analysis on the scale of illicit gold trade, focusing on the role of hand-carry methods.

The result will be a set of policy recommendations addressing permissible forms of hand-carried gold, definitions of acceptable personal limits, and the establishment of standardized customs declaration and digital tracking processes.

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In aWorld Gold Council Press Release Andrew Naylor, Head of Middle East and Public Policy at the World Gold Council, stated, “While the majority of gold is responsibly traded through a formal network, hand-carried gold does play a role in illicit trade, and our collaboration with DMCC is pivotal in addressing that challenge to the integrity of the global gold market.

This is also an important component of our strategic Gold247 programme, focused on improving integrity and trust. Together, we aim to establish a framework that tackles the current challenges and also paves the way for a more secure and responsible future in the gold trade.”

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, emphasized, “Stricter measures on hand-carry gold are an urgent priority. The positive impact that this initiative will have on the legitimate gold mining communities across the world is immeasurable. This is a prime example of how Dubai and the UAE are demonstrating a true desire to enact positive industry reforms, so we are proud to be working alongside the World Gold Council on this crucial matter.”

Numerous cases of gold smuggling are reported monthly in India, prompting the Customs Department and Directorate of Revenue Intelligence (DRI) to take proactive measures against the illegal transportation of gold through various airports.