Mumbai: Gem and Jewellery Export Promotion Council of India (GJEPC), the apex body for the promotion of gems and jewellery, will be hosting their Buyer and Seller Meet (BSM) for the first time in a virtual format, amidst the ongoing COVID-19 pandemic. The virtual format of this unique buyers and sellers meet will give an opportunity for Indian domestic jewellery manufacturers to showcase diamond collections to global buyers and sellers on a virtual format and hence will help to continue the momentum of gems and jewellery trade. The Virtual Buyer and Seller Meet will be held on 27th and 28th, August 2020.

Commenting about this unique first of its kind virtual format of the BSM meet, Mr. Colin Shah, Chairman, GJEPC, says, “The demand for gems and jewellery is slowly recovering in markets like the USA, China and other parts of the world. We need to make sure that we reach out to these buyers and meet their requirements. This is the time to explore the digital world, and make the best use of it to showcase our products through virtual medium and help buyers make informed decisions. The Council always believes in leading the way, and has thus planned to hold a VBSM for loose diamonds on 27th–28th August, 2020. We have plans to follow it up with VBSMs for coloured gemstones, costume jewellery, diamond-studded jewellery, gold-studded jewellery, platinum jewellery, etc. I am hopeful that with the support of the exhibitors and buyers, the VBSM initiative will be a successful one.”

Mr. Vipul Shah, Vice Chairman, GJEPC, said, “GJEPC will be organising a host of VBSMs at a very crucial time of the year. We are likely to see demand for gems and jewellery increase from August, owing to the upcoming Holiday season in the Western counties. The VBSM will be a platform that will give our exhibitors in India as well as buyers from across the world an opportunity to interact and make decisions in a similar way as they used to do at a physical show.”

Mr. Dilip Shah, Convener International, GJEPC, commented, “GJEPC is organising the VBSM for the first time and I am glad that we have been able to create an advanced user-friendly set-up which would give our buyers an experience better than the real one. A series of VBSMs are organised over the next few months, which would help our buyers across the world to source gems and jewellery from the comfort of their homes or offices. The VBSMs will help our buyers to check out new product developments without travelling, explore new sourcing opportunities, compare and analyse products and services of exhibitors without any distraction.”

Some of the salient features of this Virtual Buyer Seller Meet are:

• Cloud storage for secure online trading;
• Buyer-seller matching
• Optimal choice for buyers and sellers to choose gamut of options showcased by the exhibitors
• Life-like experience simulation
• Since the format is virtual, no physical contact and conduct business from home or office
• Watertight parameters for trustworthiness
• Enhance networking opportunity
• GJEPC will assist in creating product catalogues or directories of high-resolution images for exhibitors on the Council’s VBSM website
• Buyers will be able to search specific product types to find the exact merchandise they need
• The GJEPC website will make it easy for the buyer to view online product directory, even during live video meetings
• For the live one-on-one meetings between the buyer and seller, GJEPC will provide high-end cameras for product viewing during the interaction from the exhibitor’s office
• Up to 20 product images will be included in a VBSM package, which will be created and uploaded by GJEPC

GJEPC will manage, schedule and run video meetings directly through the GJEPC VBSM website platform, as per the scheduled dates and time. After the online matching of buyer and seller products, each meeting schedule between buyer and seller will be arranged for approximately 45 minutes; and in a day only 3 to 4 meetings will be planned between the buyer and seller. Meeting IDs will be created for each exhibitor, which will be shared with the buyer, to meet online at a scheduled time and discuss their business.

GJEPC has engaged professional industry coordinators around the world who would assist us in registering the potential buyers from respective regions for the Virtual BSM.

The participation fees for exhibitors, too, are as low as Rs.52,000 ($694) vis-a-vis costs involved in physical trade events of this nature. Besides the lower cost of participation, there is a huge advantage of showcasing one’s products online in a much better way and networking in a secure manner and reaching the target audience around the world instantly, thus making interactions easy.

Based on the applications received, the first preference for Virtual BSM will be given to exhibitors who have participated in the previous physical BSMs. Subsequently, other members would be registered for the Virtual BSM. Since all VBSM events are organised in sets of 10 numbers, the registrations received within the above criteria would be confirmed on a first-come, first-served basis.