India Gemstone Week Opens in Jaipur

Jaipur: India’s Gem & Jewellery Export Promotion Council (GJEPC) opened the 6th edition of “India Gemstone Week” in Jaipur yesterday. The event was inaugurated by Mr. Pramod Kumar Agrawal, Chairman, GJEPC; Mr. Nirmal Bardia, Regional Chairman, Mr. Vijay Kedia, Co-convener, Coloured Gemstones Panel, Mr. Sabyasachi Ray, Executive Director, along with International buyers and exhibitors from India.

Mr. Pramod Kumar Agrawal, Chairman, GJEPC said, “The Indian coloured gemstone industry has been one of the finest cutting centre for precious and semi-precious gemstones. This industry has been here for more than 300 years now and currently 3 lakh people are directly involved in the gemstone 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 the 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. In order to sustain rough supply for manufacturing, GJEPC is organizing BSM with mining companies of various Mining destinations across the globe. Our efforts would be to create employment in the sector and improve its contribution to the economy.”

“India Gemstone Week is an ideal opportunity to showcase India’s strength & capabilities in manufacturing world-class cut & polished Gemstones both Precious & semi-Precious. For buyers, it will be an opportunity to meet manufacturers for sourcing Gemstones, understand supply chain, business practices and culture.” added Agrawal.

Mr. Dilip Shah, Convener, International Exhibitions said, “India Gemstone Week has received a good response and support from International buyers and exhibitors. Over the next three days, around 30 exhibitors will be showcasing a wide range of precious and semi-precious gemstones to around 75 international buyers. We have buyers from Algeria, Australia, Bahrain, Belgium, Brazil, China, Egypt, France, Italy, Jordan, Lebanon, Luxembourg, Russia, Spain, Sweden, Thailand, UK, USA and Uzbekistan.

“Today, India is the preferred sourcing destination for quality gems and jewellery. The industry has always followed ethical business practices and exporters here undertake business lawfully adhering to all norms and practices, prescribed very diligently” added Dilip Shah.

The India Gemstone Week will be a mix of a Buyer Seller Meet (BSM) and an open exhibition. Pre- fixed One- 2- One meeting of approximately 30 minutes will be scheduled between the buyer and seller on the first 2 days and open exhibition on the 3rd day of the event.

Jaipur is considered to be one of the finest cutting centre for Emerald, Tanzanite, Morganite and many other gemstones. It processes more than 300 different varieties of precious and semi-precious gemstones and the industry alone employs more than 3 lakh people.

With a view to serve the ever-increasing demand of the global market and to facilitate the Karighars of the sector with better infrastructure and work environment, GJEPC has plans to set up Gem Bourse in Jaipur. The Gem Bourse will 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 at one place. This will be one of its kind place which would be providing secure environment for the international buyers of coloured gemstones to fulfil their requirements for any kind of gemstones at one place.

The Indian G&J industry has been involved in large-scale philanthropic and charitable activities, particularly in the field of education and health. The industry has responded to national calamities and emergency situations with great promptness. GJEPC though “Jewellers for Hope” has made significant contribution towards causes of Girl Child Education, Sanitation, tribal education and cancer patients.

Apart from its constant effort to develop its gem and jewellery industry through infrastructure and skill development, the Indian industry has been following ethical business practices and complying to world business standards which has made India the ideal destination for sourcing quality gems and jewellery.