The new structure for the Indo-China Coloured Gemstone Buyer Seller Meet organised by GJEPC at Panyu, China in the middle of January has been highly appreciated by the exhibitors, all leading gemstone manufacturers from India. Over 70% have confirmed their willingness to participate in similar events in the future, according to a survey conducted after the show by the GJEPC.

Over 70% of the exhibitors said that the event helped them to connect to the right target audience and that they have generated multiple business leads, while nearly 60% rated the overall results as being either Good or Excellent.

It appears that actual transactions were hampered by the high customs duty i.e. 40.4% which is currently prevalent, but contacts established during the event may result in rollover business during the upcoming Hong Kong March 2015 Show. At the show Vice Mayor of Panyu, Chen De Jun said that the local government is trying to establish a Gemstone Exchange in Panyu which will offer reduced import duty structure on coloured gemstones similar to the model followed by Shanghai Diamond Exchange.

Two earlier BSMs for coloured gemstones had been held in Jaipur in 2013 and 2014. The venue for the third in the series shifted to Panyu following an MoU for promoting trade of Gems & Jewellery items between India & China signed by GJEPC and Panyu Guangzhou Economy & Trade Promotion Bureau in August 2014.

The two day exhibition saw 424 buyers from 275 companies interacting with the 15 Indian participants each of whom had been allocated individual booths. The buyers were mainly from various parts of Mainland China including Panyu, Guangzhou, Shenzhen, Liwan, Wuzhou, Li Zhongshan, Li Foshan, Hong Kong etc. They were allowed to freely interact with the exhibitors, unlike in the earlier BSMs where only pre-arranged meetings were held.

The Opening Ceremony was addressed by Vice Mayor of Panyu, Chen De Jun and Consular Commerce & HOC, Consulate General of India, Guangzhou, T. J. Suresh.

Jaipur Regional Chairman Rajiv Jain also addressed the Annual Networking Event of the Guangdong Coloured Gemstone Chamber of Commerce, which coincided with the BSM.