The Gem & Jewellery Export Promotion Council (GJEPC) is the apex body driving India’s export-led growth in the gem and jewellery sector, with over 10,000 members in its fold. GJEPC promotes brand India and identifies potential partners and buyers in international markets through buyer-seller meets. GJEPC invites countries to explore areas of cooperation in the supply of rough diamonds, coloured gemstones, and sourcing of finished jewellery. Vipul Shah, Chairman of GJEPC, spoke about their recent international initiatives. Excerpts:
How have exports grown in this
fiscal year?
Plain gold jewellery has shown remarkable growth in exports, especially since the UAE CEPA. We are pleased that it continues to play a significant role in the gem and jewellery industry. With the benefits expected from the FTAs signed with the UAE, Australia, and EFTA, we anticipate further growth in the coming years. The export of plain gold jewellery continues to soar, marking a significant 27.45 per cent increase, reaching $342.27 million in April 2024, compared to $268.56 million.
The total gross export of gold jewellery (both plain and studded) saw a promising 11.03 per cent growth, reaching $718.34 million in April 2024, compared to $646.97 million. To further boost exports, we have devised a robust promotion plan, focusing on tapping into new markets. Additionally, we are investing in the generic promotion of diamond and gold jewellery, in collaboration with the Natural Diamond Council (NDC) and the World Gold Council (WGC), respectively.
What efforts are being made to increase gem & jewellery exports across the globe?
GJEPC organised a delegation visit to Latin America in May 2024. The delegation toured Brazil, Colombia, and Panama to explore markets, boost India’s exports, and build stronger economic ties in the Latin American and Caribbean (LAC) region. Our engagements in Brazil, Colombia, and Panama have not only showcased the unparalleled craftsmanship and diversity of India’s gem and jewellery sector but also paved the way for enduring partnerships. We are committed to expanding India’s footprint in the global market, and this tour has strengthened our economic ties with the LAC region.
What kind of opportunities do Latin American countries provide?
Our engagements in these Latin American countries have been both fruitful and inspiring. The rich histories, cultural wealth, and economic potential of Brazil, Colombia, and Panama provide a strong foundation for mutually beneficial partnerships. Together, we are poised to achieve remarkable milestones that will benefit our industries and peoples. Through these strategic engagements in Brazil, Colombia, and Panama, the GJEPC delegation aims to bolster India’s gems and jewellery exports, build stronger economic ties, and facilitate collaborative opportunities in Latin America, thereby driving growth in the Indian gems and jewellery sector.
Which industry bodies did the GJEPC team meet in Brazil?
In Brazil, the delegation met with key industry leaders to discuss potential collaborations and market expansion. Highlights of the visit included a meeting with Ecio Morais, Director of IBGM, organisers of the popular Feninjer jewellery show in São Paulo. Discussions centred on creating a dedicated India Pavilion for exhibitors dealing in loose stones. The team also held talks with the Monte Carlo group, the second-largest jewellery store chain in Brazil, exploring opportunities to strengthen business ties between the two nations. Additionally, the delegation conferred with the CEO of SAUER Group, a reputed name in the Brazilian jewellery sector, focusing on potential partnerships and market expansion strategies. Meetings with representatives from the prominent jewellery group ESMEBRAS further underscored the delegation’s commitment to building strong bilateral trade relations.
The delegation participated in interactive meetings with the Indian Embassy in Brazil and major retailers such as H Stern, Monte Cristo, Vivara, VQ Jewellery, and Villar Joias, facilitating valuable networking opportunities.
How did GJEPC network in Colombia?
The GJEPC delegation visited Colombia, where they engaged in several key activities to enhance trade relations. A networking lunch with the Ambassador of India to Colombia, Vanlalhuma, provided a platform to discuss promoting Indian jewellery in the Colombian market. Ali Pastorini, President of Mubri and GJEPC coordinator in the LAC region, facilitated interactions with Colombian jewellers.
What is the potential in Panama?
In Panama, the GJEPC delegation aimed to solidify India’s presence in the LAC region’s gems and jewellery sector. During their visit, the Indian Ambassador to Panama, Costa Rica & Nicaragua, Dr Sumit Seth, addressed the gathering, emphasising the importance of strengthening economic ties between India and Panama.