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India's Gemstone Week focuses on new markets

16 April 2019


Stakeholders and other members of India's coloured gemstone industry at the opening of the 6th India Gemstone Week


 

The Gem & Jewellery Export Promotion Council (GJEPC) shone the spotlight on 30 coloured gemstone manufacturers from Jaipur that showcased their latest goods at the 6th edition of India Gemstone Week.

Around 75 international buyers representing 19 countries including Algeria, Australia, Bahrain, Belgium, Brazil, China, Egypt, France, Italy, Jordan, Lebanon, Luxembourg, Russia, Spain, Sweden, Thailand, the UK, the US and Uzbekistan were expected to attend the event.

Pramod Kumar Agrawal, chairman of GJEPC, remarked, “The Indian coloured gemstone industry has been one of the finest gemstone cutting centres in the world. The industry has been around for more than 300 years. India’s exports of coloured gems accounted for US$421.73 million in 2018.”

GJEPC, he stressed, is constantly working to boost gem exports by exploring new markets as well as providing better infrastructure and skills upgrade; and creating business opportunities through platforms like the India Gemstone Week.

The India Gemstone Week “is an ideal opportunity to showcase India’s strength and capabilities in manufacturing world-class coloured gemstones. For buyers, it is an opportunity to meet manufacturers, understand the supply chain, business practices and the local culture,” added Agrawal.

The India Gemstone Week is a mix of “buyer-seller meets” and an open exhibition. Pre-organised one-on-one meetings are scheduled between the buyer and seller on the first two days of the event while an open exhibition is scheduled on the third day.

According to GJEPC, Jaipur is considered to be one of the finest cutting centres for emeralds, tanzanites, morganites and other coloured gemstones. The industry processes more than 300 different varieties of gems and employs hundreds of thousands of people.

GJEPC also announced plans to set up a Gem Bourse in Jaipur. The Gem Bourse will house more than 2,000 offices of coloured gemstone manufacturers and traders along with other related businesses and service providers.