GJEPC Aims to Boost Colored Gemstone Exports

The Gem & Jewellery Export Promotion Council (GJEPC) aims to expand the exports of colored gemstone “significantly” in the next three years given such huge potential.

GJEPC on Wednesday hosted the first “International Colored Gemstone Mines to Market Conference” in Jaipur, popularly known as the Pink City of India, with an aim to reinforce India’s position as the global hub for colored gemstones. Ian Harebottle, chief executive of Gemfields International, Saurabh Chandra, additional secretary and financial advisor, Ministry of Commerce & Industry, India, and Rajiv Jain, the GJEPC’s chairman, inaugurated the conference.

Jain (pictured) stated that India exported colored gemstones worth $315.22 million in fiscal year 2010 and 2011, a rise of about 10 percent from a year earlier. However, considering that India’s total gems and jewelry exports stand at $43 billion, the share of colored gemstones is relatively small currently, he added.

”With mines to market initiative, the industry stands to address all the global concerns, forge a solid road ahead, determine all the necessary steps that need to be taken to establish and maintain a flourishing colored gemstones trade globally,” Jain said.

GJEPC stated that the conference in Jaipur, which has been known for its heritage jewels and gemstones, gives an opportunity to showcase the beautiful home of gemstones in India to the world. India has been acknowledged as one of the primary centers for manufacturing colored gemstones during the past five years and Jaipur engages more than 100,000 people in this trade.

Chandra said, ”The collective endeavor while remains the forging of ‘Brand India,’ talks are also on to promote Jaipur as a colored gemstone destination amongst international players.”

GJEPC will soon form a company along the lines of Diamond India Ltd. that will source rough gemstone directly from the miners, Jain stated.

The two-day conference will bring industry experts together from across the globe to discuss issues pertaining to the colored stone pipeline and to encourage a cohesive way forward.

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