The incident occurred on Alipur-Pushta road leading to Tronica City of Ghaziabad.
The police said jeweller Vijay Kumar Gupta left his home town Thursday morning. After completing his marketing in Delhi, he was proceeding to Meerut via Baghpat.
To reach his destination on time and avoid heavy traffic in Loni, he took the Pushta road, a short cut from Alipur bye pass road leading to Baghpat alongside the Yamuna.
As his Volkswagen Polo reached between Badarpur and Pachahra villages, three robbers forced him to stop as they halted their motorcycle in front of his car.
The moment he stopped, a robber opened the driver's side window and dragged him out.
In the meantime, a second robber drove off in Gupta's car that contained silver, gold, diamond and cash.
The remaining two robbers snatched the trader's mobile and also escaped from the spot.
The victim sought help from two passers-by, Vinod and Satish, who called the police.
"We have registered a case and are trying to nab the culprits," said police officer Gorak Nath Yadav of Loni police station.