Apr 11, 2019

Buyers from 19 Countries Visit 6th India Gemstone Week as GJEPC Seeks to Expand to New Markets

A total of 75 international buyers representing 19 countries, including many which are new potential markets for gemstones manufactured in India were present at Jaipur as the 6th India Gemstone Week got underway this morning. The three-day Buyer-Seller Meet (BSM) was inaugurated by Pramod Kumar Agrawal, Chairman, GJEPC; Nirmal Kumar Bardiya, Regional Chairman; Vijay Kedia, Co-convener, Coloured Gemstones Panel; Sabyasachi Ray, Executive Director, along with International buyers and exhibitors from India.  

The countries represented at the meet are Algeria, Australia, Bahrain, Belgium, Brazil, China, Egypt, France, Italy, Jordan, Lebanon, Luxembourg, Russia, Spain, Sweden, Thailand, UK, USA and Uzbekistan. They will interact with 30 gemstone manufacturers from Jaipur who together will showcase a wide range of precious and semi-precious gemstones.

The three-day interactive meet, which includes the initial two days devoted to pre-scheduled one-on-one meetings between buyers and sellers in slots of about 30 minutes each, followed by an open exhibition format on the final day, will help showcase India’s strengths and capabilities in manufacturing world-class cut & polished gemstones. It will also offer buyers the opportunity to meet manufacturers for direct sourcing, and help them to understand the supply chain, business practices and culture in the Indian industry.

Speaking at the inauguration, GJEPC Chairman Agrawal said that India’s is one of the world’s leading centres for cutting precious and semi-precious gemstones. The industry has roots that are over 300 years old, and today has nearly 3 lakh people directly involved in the business. “India’s exports of coloured gemstones accounted for US$ 421.73 million in 2018 as compared to US$ 420.79 million in 2017. GJEPC is constantly working to boost exports by exploring new markets. We are also developing this sector by providing better infrastructure, skill upgradation, creating opportunity to meet international buyers through platforms like India Gemstone week,” he said.

The Council will also soon be hosting a BSM with mining companies from various gemstone producing countries across the globe, Agrawal added.

Dilip Shah, Convener, International Exhibitions said, “India Gemstone Week has received a good response and support from international buyers and exhibitors. Today, India is the preferred sourcing destination for quality gems and jewellery.” He added that the industry has always followed ethical business practices and exporters diligently adhere to all established norms and practices.

Jaipur is considered to be one of the finest cutting centres globally for emerald, tanzanite, morganite and many other gemstones. It processes more than 300 different varieties of precious and semi-precious gemstones.

The industry is finalising plans to set up a full-fledged Gem Bourse in Jaipur which will provide an improved infrastructure and work environment and also help the industry better serve the ever-increasing demand of the global market. The bourse is expected to house more than 2000 offices of coloured gemstones manufacturers and traders along with the offices of customs, customs bonded area, banks, and other service providers.

Pic caption: GJEPC officials with the participants in the 6th India Gemstone Week