The first-ever India-US Jewellery Buyer Seller Meet (BSM) was inaugurated by Mr. Colin Shah, Vice Chairman, Gem & Jewellery Export Promotion Council (GJEPC) along with Mr. Sabyasachi Ray, ED, GJEPC. Leading Indian jewellery exporters interacted with a delegation of over 32 topmost jewellery buyers i.e. 23 from United States and 9 from New Zealand, Ireland, Spain, United Kingdom and Germany – comprising a mix of jewellery retailers, wholesalers and distributors as representatives of merchandising/ buying groups and best practice groups of independent retailer jewellers as well as VP merchandising and buyers from large and small regional chains. America is the largest (by value) jewellery market in the world. Over 23 prominent export houses are exhibiting their products at the three-day business matching program.
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- Mr Colin Shah, Vice Chairman, The Gem and Jewellery Export Promotion Council (GJEPC)
India’s total exports of gem &jewellery to the US grew 16% to USD 10.48 bn in FY19 from USD 9.064 bn in FY16. Exports to the US (USD 10.48 bn) accounted for 26.3% of the total gem &jewellery exports of USD 39.76 bn in FY19. India’s exports of gold jewellery studded with diamonds to the US were USD 1.37 bn while those of plain gold jewellery and other studded gold jewellery in FY19 were USD 290.62 mn. India’s exports of Cut & Polished diamonds to the US were USD 8.31 bn in FY19 (up 26% from FY16).
BSMs have helped Indian companies reach out to new segments. They are an ideal way to connect with the buyers in a focused business setting. Indian gem and Jewellery manufacturers have been catering to the most demanding customers across the globe. Indian Gem & Jewellery Industry has invested heavily in its 5 million plus workforce and ensured sustainable development through socio-economic benefits such as, medical facilities, employment generation and second-to-none training institutes for workers amongst others. Their ability to satiate any kind of jewellery requirements has amazed the world. This has been possible due to Industry’s willingness to embrace and adopt the latest technology.
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- A gathering of 32 buyers from US, Spain, UK, Germany and New Zealand at the Indio-US buyer and sellers meet organised by The Gem and Jewellery Export Promotion Council (GJEPC), in Mumbai today. The three day event started today and will see 23 Indian exports exhibiting their products to the buyers.
The prime activity of GJEPC is to promote the Gem & Jewellery products in the International markets. Over the years, it has been involved in organisinga number of important trade shows held in the country like the India International Jewellery Show (IIJS), IIJS Signature, India Gem & Jewellery Machinery Expo (IGJME). The GJEPC also organises India Pavilions – participation of a number of companies under the GJEPC banner - at various leading international shows like JCK Las Vegas, Basel, and several others worldwide. Various product-specific Buyer-Seller Meets, sending and hosting trade delegations and sustained image building exercises through advertisements abroad, publications and audio-visuals are some of the other trade promotion activities undertaken by the Council.
Apart from its constant endeavour 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.
