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The Gulf region is fast becoming a significant alternative hub for Indian jewellery manufacturing and exports, spurred by rising trade tensions between the US and India. Experts point to the growing challenges faced by Indian jewellers, particularly as American tariffs on Indian imports climb in response to geopolitical factors, including India’s continued oil purchases from Russia.

The latest move by the US, led by an executive order from President Donald Trump, has intensified trade uncertainties. The executive order, signed on Wednesday, introduces a hefty 25 per cent tariff on Indian goods, with specific implications for the jewellery sector. This tariff hike, effective in three weeks, increases the overall tariff burden on Indian imports to 50 per cent—one of the highest rates the US has imposed on its trading partners.

For years, India has been the global leader in jewellery manufacturing, with a robust presence in the international market, particularly in the US. However, the imposition of punitive tariffs has forced many Indian jewellers to rethink their export strategies. The Gulf region, traditionally a key market for Indian gold and precious stones, is now gaining prominence as a strategic manufacturing base, offering a more favourable trade environment.

The decision to shift operations to the Gulf is driven by a combination of factors, including the region’s strategic geographic position and its trade agreements with major markets. Countries like the UAE and Bahrain have long been involved in the jewellery trade, but as tariffs increase on Indian exports to the US, their roles are now being redefined. Experts suggest that the Gulf’s advanced infrastructure, coupled with an array of free trade agreements, makes it an attractive destination for manufacturing and re-exporting high-end jewellery to global markets, including the US.

The Dubai Gold and Jewellery Group, one of the region’s leading jewellery trade bodies, has welcomed the shift, noting the opportunities it presents for growth. The UAE, in particular, has developed an attractive ecosystem for jewellery manufacturers, offering tax incentives, access to advanced technology, and a well-established logistics network. These benefits make it an appealing alternative for Indian jewellers seeking to bypass the punitive tariffs imposed by the US.

India’s reliance on the US market for jewellery exports, particularly in the high-end sector, has been significant. However, as the tariff burden becomes heavier, companies are exploring alternatives that provide both cost-effectiveness and access to lucrative international markets. Several large manufacturers have already established bases in the UAE, with plans to expand their operations further into the region.

A noteworthy trend is the increasing collaboration between Indian and Gulf-based jewellery firms. These partnerships are focused on expanding manufacturing capabilities while reducing reliance on traditional export routes. The UAE, with its business-friendly policies, is proving to be an ideal locale for jewellery production, particularly for smaller-scale businesses that are unable to absorb the full impact of the US tariffs.

One of the key drivers of this shift is the growing US demand for luxury goods, including jewellery. The tariff hike, while discouraging direct exports from India, has not dampened the appetite for high-quality jewellery. Instead, it has prompted companies to explore alternative routes to meet this demand. Experts point out that the Gulf provides a strategic advantage for such businesses, offering them the flexibility to maintain their competitive edge without the added burden of trade barriers.

The Gulf’s importance in the global jewellery trade has long been overlooked in favour of established centres like India. However, as geopolitical tensions continue to shape trade flows, the region’s position as a central player in the jewellery manufacturing process is becoming more evident. Industry insiders predict that over the next few years, the Gulf’s jewellery manufacturing and export capabilities will only grow stronger, reshaping the global jewellery supply chain.

For Indian jewellery manufacturers, the shift to the Gulf represents a broader strategy to diversify their risk exposure. By establishing a presence in markets that are less susceptible to abrupt policy changes, Indian companies are better positioned to mitigate the impact of volatile geopolitical situations. The expansion of Gulf-based jewellery production also ensures that India maintains a foothold in the lucrative US market, even as tariffs continue to escalate.

The UAE is on track to finalise key trade and investment agreements with the Eurasian Economic Union by the end of this year, according to Sultan Ahmed Al Zeyoudi, Minister of State for Foreign Trade. These deals are expected to significantly bolster economic relations and facilitate the UAE’s efforts to diversify its economy beyond oil.

Al Zeyoudi’s announcement reflects the UAE’s growing ambition to expand its trade network, particularly with nations in the Eurasian region. The EAEU, which includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, represents a significant economic bloc that the UAE sees as a vital partner in its long-term economic strategy.

The agreements focus on enhancing investment flows and providing broader access to regional markets. Both parties are keen to foster deeper collaboration in sectors such as energy, technology, agriculture, and logistics. With its strategic location as a global trade hub, the UAE is positioning itself as a bridge for Eurasian nations to access markets across the Middle East, Africa, and South Asia.

The economic benefits for the UAE are substantial, aligning with the country’s efforts to diversify its economy away from oil dependency. The UAE government has long pursued a strategy of enhancing non-oil sectors, such as tourism, renewable energy, and advanced technology. According to Al Zeyoudi, these agreements are an integral part of that vision, as they promise to unlock new avenues for investment and business partnerships.

For the member countries of the EAEU, the deals offer access to the UAE’s advanced infrastructure, highly developed financial systems, and a favourable business environment. The UAE’s well-established role in global logistics and trade is a valuable asset for EAEU nations, many of which have been seeking new markets and economic partners in recent years.

Trade relations between the UAE and EAEU countries have been growing steadily over the past few years. The UAE is already one of the largest trading partners for Russia and Kazakhstan in the Middle East. However, the planned agreements will formalise and expand this economic cooperation, creating a more structured and comprehensive framework for bilateral trade.

Experts suggest that the agreements will have a significant impact on both sides. The UAE stands to benefit from an influx of investment, particularly in sectors like technology and agriculture, where EAEU nations have strengths. Meanwhile, the EAEU countries are likely to gain access to the UAE’s advanced financial markets and industries, accelerating their own economic development.

Al Zeyoudi highlighted that these agreements are not just about trade but also about long-term strategic cooperation. The UAE, with its robust diplomatic and economic capabilities, is offering more than just commercial partnerships; it is providing a platform for wider regional collaboration. This aligns with the UAE’s broader foreign policy goals of strengthening relations with emerging economies and expanding its global influence.

The discussions on these trade deals have intensified in the wake of growing geopolitical shifts, particularly in the context of the global economic reordering. The UAE’s proactive stance in seeking new trade alliances is also a response to the changing dynamics in global trade and investment. By deepening ties with the EAEU, the UAE aims to position itself at the forefront of economic integration across multiple regions.

The agreements are also likely to play a crucial role in enhancing the UAE’s role in the global economy. As countries in the Middle East and Central Asia seek to strengthen their economic positions amid a rapidly changing global landscape, the UAE’s ability to provide a gateway for trade and investment becomes increasingly important.

Al Zeyoudi has been vocal about the need for greater economic diversification and international collaboration. This year, the UAE government has continued to focus on expanding its trade relations beyond traditional partners, with Asia, Africa, and Europe emerging as key regions of focus. The finalisation of the Eurasian agreements will mark another milestone in the UAE’s evolving foreign trade strategy.

The Abu Dhabi Housing Authority has entered into agreements with three national banks to offer top-up housing finance at subsidised interest and profit rates. This initiative aims to enhance accessibility to homeownership for UAE nationals, a central goal of the authority’s efforts to expand affordable housing options in the capital.

The latest collaboration will allow individuals who have already received funding under the ADHA’s housing loan programme to access additional financial support. The move is designed to ease the financial burden on homeowners by offering more flexible payment plans and lower rates, a critical factor in the current economic climate.

The newly established partnerships involve top national banks, further broadening the scope of the ADHA’s housing initiatives. By securing these collaborations, the authority aims to build stronger financial partnerships within the sector, ensuring more inclusive access to property ownership for citizens. In total, the initiative is expected to benefit hundreds of Emirati families, with an anticipated surge in demand due to the competitive financing terms.

These agreements come as part of a broader strategy to increase homeownership rates across the UAE. In recent years, the government has intensified efforts to make housing more affordable for nationals, with various initiatives addressing the financing gap for first-time homeowners and those wishing to upgrade their homes.

One key aspect of these new arrangements is the focus on easing the strain of high property prices, which have been a barrier to homeownership for many nationals, particularly in urban areas like Abu Dhabi. Under these new terms, eligible individuals can access additional funds to cover the increasing costs of property ownership while benefiting from interest rates that are considerably lower than the market average.

For the participating banks, this initiative represents a further opportunity to tap into the growing demand for home loans. The ADHA’s housing programme has already seen strong uptake, and these new partnerships are expected to foster a sense of long-term trust between the government and financial institutions. The banks are anticipated to leverage their extensive customer networks to ensure the accessibility of these financing options to as many eligible nationals as possible.

With the UAE’s real estate market still facing challenges, especially for first-time buyers, these developments signify a critical step towards more equitable homeownership opportunities. By working with national banks, ADHA is addressing the economic disparities that can prevent nationals from owning their homes, aligning with broader national goals of social stability and financial inclusion.

This collaboration also ties into the broader vision of diversifying the economy and reducing reliance on non-housing sectors by fostering homegrown economic growth. Providing affordable housing options for nationals is a pivotal part of these ambitions, ensuring that families can build long-term wealth and stability through property ownership.

The new financing schemes are part of an ongoing drive to not only increase the number of homeowners but also improve the living standards of UAE nationals by offering improved housing conditions. While much of the focus has been on infrastructure projects and urban development, there is now an increased emphasis on ensuring that the growing population of UAE nationals can access property that suits their needs and income levels.

Abu Dhabi’s Mubadala Energy has acquired a 24.1% equity stake in Caturus, a rebranded platform for natural gas and liquefied natural gas exports, following the successful closure of its investment in partnership with alternative asset manager Kimmeridge. This move marks a significant step in Mubadala’s strategy to strengthen its foothold in the US energy market, specifically within the integrated natural gas and LNG sectors.

Mubadala Energy’s involvement in the US market reflects its broader strategy to diversify its portfolio, tapping into high-growth energy markets outside its core base. The company’s new stake in Caturus aligns with its goal to expand its presence in global energy infrastructure, particularly in areas that promise long-term stability and returns.

The deal, valued at an undisclosed sum, solidifies Mubadala Energy’s growing influence in the North American energy sector, which has been experiencing a surge in LNG exports. The US has become a crucial player in the global LNG market, with rising production levels and the establishment of new infrastructure facilitating an increasing flow of exports, particularly to Europe and Asia.

Kimmeridge, a US-based alternative asset manager, has also made substantial strides with its role in Caturus, cementing its position as a key player in energy investments. The collaboration between Mubadala and Kimmeridge is part of a wider effort to create a more integrated and efficient LNG export system, as the two firms look to leverage their combined expertise to drive future growth and development in the sector.

This partnership highlights the growing trend of international energy companies and investment firms looking to the US as a prime location for natural gas and LNG infrastructure. The US energy landscape has seen significant transformation in recent years, with abundant shale gas reserves and increased technological advancements enabling greater extraction and export capabilities.

Caturus itself is designed to optimise the export of LNG, focusing on enhancing infrastructure, improving logistics, and ensuring the delivery of natural gas to international markets with efficiency and minimal environmental impact. The platform’s focus on sustainability aligns with Mubadala’s wider goals of promoting cleaner energy solutions and reducing carbon emissions within its portfolio.

By securing a stake in this critical infrastructure, Mubadala Energy not only diversifies its holdings but also strengthens its role in the ongoing global shift towards cleaner energy sources. The company has committed to transitioning its investments towards more sustainable energy solutions, with a particular focus on natural gas, which is seen as a cleaner alternative to coal and oil in power generation.

Caturus’s strategic location within the US allows it to access key markets, positioning it as a vital part of the LNG export network. With LNG demand increasing globally, particularly in Asia, the platform is well-placed to capitalize on the growing need for cleaner and more sustainable energy options. Mubadala’s participation in this project is expected to enhance its capacity to meet the increasing energy demands of international markets while positioning itself as a responsible player in global energy transitions.

The shift towards LNG and natural gas aligns with broader global energy policies that are looking to reduce carbon emissions and transition away from coal. As countries around the world pursue cleaner alternatives to traditional energy sources, LNG has become an attractive option due to its lower emissions profile compared to coal and oil. The increased export of LNG from the US is particularly important as it helps to meet the energy needs of European and Asian markets, which have increasingly turned to LNG for their energy security needs.

Mubadala Energy’s commitment to sustainability and the environment also underpins this investment. The company has set ambitious goals to reduce its carbon footprint and increase its investments in renewable and low-carbon energy technologies. This aligns with the UAE’s broader energy strategy, which has placed a strong emphasis on cleaner energy, and further reinforces Mubadala’s role in contributing to these global efforts.

India’s efforts to strengthen ties with the United States are facing significant hurdles due to key staffing gaps within President Donald Trump’s administration. Diplomatic engagement between the two countries has been hindered as vital foreign policy roles in Washington remain vacant, impacting India’s ability to effectively navigate the US political landscape.

Over the past few months, Indian officials have expressed concerns regarding the lack of permanent appointments in crucial diplomatic positions, including roles at the Department of State and the National Security Council. The vacancies have caused delays in ongoing discussions on key issues such as trade, defence cooperation, and counterterrorism. Despite a shared interest in expanding bilateral relations, the absence of key decision-makers has created a diplomatic impasse, making it increasingly difficult for Indian diplomats to secure face-to-face meetings with senior US officials.

The US has traditionally relied on a network of ambassadors and senior officials to manage foreign policy and maintain smooth relations with global partners. However, under the Trump administration, numerous diplomatic posts remain unfilled, including positions critical to managing India-US relations. These gaps have left many key policy decisions in limbo, complicating efforts to address pressing global challenges, including the Indo-Pacific security framework and trade negotiations.

India, in particular, has been affected by this lack of political continuity. For instance, while the US has reaffirmed its commitment to strengthening defence and economic ties with India, the absence of a US ambassador to India and a permanent Assistant Secretary of State for South and Central Asia has made it difficult to reach concrete agreements. Without these senior officials in place, policy coordination becomes more fragmented, forcing Indian officials to engage with temporary appointees who lack the authority to make significant policy changes.

Indian diplomats have found it especially challenging to build rapport with the Trump administration, which has demonstrated a preference for unconventional approaches to diplomacy. The absence of a steady stream of high-level communication has left gaps in the continuity of US policy towards India, further complicating efforts to resolve existing tensions, such as trade disputes and visa restrictions.

While India has attempted to address these challenges through alternative channels, such as the strategic dialogue and consultations with lower-ranking officials, these engagements have failed to produce the desired outcomes. For example, discussions aimed at resolving trade imbalances and the reduction of tariffs have stalled, with both sides unable to reach an agreement due to a lack of dedicated leadership on either side.

The Indian government, under Prime Minister Narendra Modi, has worked to bolster its position in the global order by forging closer ties with the US. However, without the necessary diplomatic infrastructure in place, India has been forced to wait for the completion of staffing appointments in the Trump administration before advancing critical bilateral agendas. While there has been progress in areas such as defence cooperation, the lack of substantive discussions on trade and technology has caused frustration in New Delhi.

At the heart of this diplomatic challenge is the ongoing uncertainty surrounding the US administration’s foreign policy direction. As key positions remain vacant, the White House’s ability to provide a cohesive strategy on international affairs has been compromised, particularly in its dealings with major global powers like India. This vacuum has also complicated the Trump administration’s broader efforts to pivot its foreign policy towards the Indo-Pacific region, an area of strategic interest to both the US and India.

India’s strategic priorities have been clear: maintaining a robust relationship with the US while balancing its growing ties with China and Russia. As India seeks to navigate these complex geopolitical waters, the Trump administration’s staffing issues continue to be a major stumbling block. The lack of clear leadership in critical areas of US foreign policy has left many in India questioning the future trajectory of their relationship with Washington.

The growing importance of economic and technological collaboration between the two countries has intensified the urgency for resolution. As the US and India aim to establish a more comprehensive partnership, delays in staffing appointments are causing significant setbacks in addressing mutual concerns in areas such as cybersecurity, trade, and investment.

The Indian government has launched a substantial ₹1 lakh crore initiative aimed at advancing research and development in DeepTech sectors, which include artificial intelligence, biotechnology, and clean energy. The move seeks to position India at the forefront of technological innovation while addressing pressing global challenges, such as climate change and health issues, through groundbreaking advancements.

The scheme, which is the largest of its kind in the country, provides financial support through low-interest loans and grants to organisations engaged in pioneering research within these high-tech fields. This initiative is designed to fuel India’s transition to a knowledge-based economy, empowering domestic companies to compete on the global stage.

The programme has been met with widespread enthusiasm across industries, particularly for its potential to create high-skilled jobs and promote sustainable growth. Industry experts believe that the government’s focus on DeepTech will provide the necessary infrastructure for start-ups and established companies to undertake transformative research, particularly in AI and biotechnology, areas that are expected to revolutionise industries globally.

The scheme is structured to benefit both large-scale enterprises and smaller start-ups, ensuring a wide distribution of opportunities across the technology ecosystem. By offering loans with highly favourable interest rates, the government is incentivising private investment in research and innovation. These funds can be used for a variety of purposes, including product development, infrastructure creation, and collaboration with academic institutions. The emphasis on clean energy projects is particularly timely, given the global push towards sustainability and reducing carbon footprints.

Aimed at fostering a more robust R&D culture, this initiative also ties into broader national objectives, such as strengthening India’s technological independence and making strides towards self-reliance. By facilitating the creation of homegrown technologies, the government hopes to reduce the nation’s dependence on foreign technologies and build a self-sustaining innovation ecosystem.

The programme is expected to bring a ripple effect, spurring greater investment in the country’s deep-tech space. This comes at a time when global investors are showing increasing interest in emerging markets like India, particularly in sectors that address environmental concerns and healthcare challenges. Experts suggest that this initiative could make India a major player in AI, clean energy, and biotech, which have seen explosive growth globally.

This initiative builds upon earlier steps taken by the government to boost technological innovation. A notable example is the government’s push for AI adoption across industries, with initiatives such as the National AI Strategy. Moreover, India’s growing digital infrastructure, which includes expanding internet access and cloud capabilities, is seen as a foundation for the country to lead in cutting-edge research and development.

With AI poised to reshape industries such as healthcare, agriculture, and education, the government’s focus on AI-driven projects through this scheme could significantly enhance the country’s global competitiveness. For example, AI technologies are expected to play a critical role in optimising supply chains, improving healthcare diagnostics, and even contributing to smarter urban planning and infrastructure.

Similarly, India’s biotechnology sector, which has been a cornerstone of the nation’s medical advancements, stands to benefit enormously from the new scheme. Biotechnology holds promise for breakthroughs in disease treatment, diagnostics, and sustainable agricultural practices. With government backing, researchers and innovators will have access to the necessary resources to push the boundaries of what is currently possible in life sciences.

The clean energy component of the scheme is particularly crucial in the context of global environmental concerns. India, as one of the world’s largest emitters of carbon dioxide, has made ambitious commitments to reduce its carbon footprint, and this initiative is aligned with those goals. By providing financial incentives for renewable energy projects, including solar, wind, and hydrogen energy, the government is fostering an ecosystem conducive to green innovation.

The scheme also complements India’s broader economic reforms aimed at boosting manufacturing and technological self-sufficiency under the “Make in India” programme. By nurturing DeepTech innovation, India could develop indigenous solutions that cater not just to domestic needs but also to international markets, enhancing its stature as a hub for cutting-edge technology.

As part of its effort to ensure the programme’s success, the government is also facilitating partnerships between industry players and academia. This collaborative approach is intended to strengthen the research base and bridge the gap between innovation and practical application. Partnerships with international research bodies are also expected to enhance India’s global position in deep-tech innovation.

ExxonMobil has launched the third edition of its flagship “EXCITE” programme, designed to foster innovation and collaboration within the energy sector. The initiative underscores the company’s commitment to strengthening partnerships and supporting the growth of businesses across the region. This year’s programme introduces enhanced features, offering participants more opportunities to engage with cutting-edge technologies and expert insights.

The EXCITE programme, which was first introduced in 2021, has quickly become a key component of ExxonMobil’s regional strategy, aimed at driving long-term sustainability in the energy sector. Each edition of the programme has sought to build on the lessons of the previous one, refining its approach based on feedback from participants and industry trends. This year’s launch represents a significant step forward, with ExxonMobil seeking to leverage its extensive expertise to address the most pressing challenges in the sector.

A focal point of this year’s programme is the integration of digital transformation initiatives. As the global energy landscape evolves, ExxonMobil has placed a strong emphasis on technology as a tool for enhancing operational efficiency and fostering innovation. By providing participants with access to advanced digital platforms and data analytics tools, the company aims to empower businesses to develop more effective, data-driven solutions.

The EXCITE programme is open to a wide range of organisations, including startups, entrepreneurs, and established companies. Participants gain exposure to ExxonMobil’s vast network of industry leaders and technical experts, providing invaluable mentorship and collaboration opportunities. Through a series of workshops, seminars, and collaborative projects, participants are able to gain a deeper understanding of the latest trends and technologies shaping the future of energy.

A key highlight of this edition is the increased focus on sustainability. As environmental concerns continue to dominate global discussions, ExxonMobil has emphasised the importance of developing solutions that promote energy efficiency, reduce carbon emissions, and support the transition to cleaner energy sources. The company has committed to driving the adoption of renewable energy technologies and promoting the development of sustainable solutions that align with global environmental goals.

The first two editions of EXCITE saw significant success, with numerous startups and small businesses gaining the opportunity to scale their operations through partnerships with ExxonMobil and other stakeholders in the energy sector. These collaborations have led to the development of innovative technologies and processes that are helping to shape the future of energy production and consumption.

The programme also addresses the growing demand for skilled professionals in the energy industry. By offering participants access to training and development opportunities, ExxonMobil is helping to bridge the skills gap in the sector, ensuring that the next generation of energy leaders is well-equipped to tackle the challenges ahead.

ExxonMobil has consistently been at the forefront of efforts to drive innovation and sustainability within the energy sector. With the launch of the third edition of EXCITE, the company is reinforcing its role as a key player in the global energy transition. The programme serves as a testament to ExxonMobil’s ongoing commitment to advancing technologies and solutions that will help meet the world’s growing energy needs while addressing climate change.