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4th India SAARC-Middle East BSM targets stronger exports

3 May 2019


Opening ceremony of the 4th India SAARC-Middle East Buyer Seller Meet in Chennai

 

An expansive selection of plain gold and diamond-studded jewellery dazzled visitors at the 4th India SAARC-Middle East Buyer Seller Meet (BSM) in Chennai. 

The three-day event, organised by the Gem & Jewellery Export Promotion Council (GJEPC) from April 28 to 30, featured fixed one-on-one meetings between buyers and sellers on the first two days and an open exhibition on the third day. SAARC stands for South Asian Association for Regional Cooperation.

A total of 31 exhibitors from across the country showcased their latest collections to 78 buyers from Algeria, Australia, Bahrain, Bangladesh, Egypt, Fiji, Jordan, Kuwait, Lebanon, Malaysia, New Zealand, Qatar, Russia, Saudi Arabia, Singapore, Sri Lanka, UAE and the UK.

Pramod Kumar Agrawal, chairman of GJEPC, commented, “The Indian gemstone and jewellery industry has successfully catered to Middle Eastern and Asian countries, offering products that suit their tastes and market needs. India has been the preferred sourcing destination for quality gems and jewellery globally as proven by the growth in gold and gem-set jewellery exports to US$12.03 billion in fiscal year 2019, up 24.36 percent from FY2018.”

Among the main goals of the India SAARC-Middle East BSM is to further improve India’s trade relationships. A leader in the global diamond sector, India is also focusing on further strengthening its jewellery exports to SAARC nations and Middle Eastern markets. It mainly exports to Hong Kong, the US and UAE.

“Indian manufacturers have been investing in technology and manpower to create jewellery in exceptional designs using high-end materials. India’s jewellery industry is also known for its ethical business practices,” added Agrawal.