(PRESS RELEASE) The Gem & Jewellery Export Promotion Council organized its 1st India silver jewelry Buyer Seller Meet (BSM) between 3rd – 5th October 2018, in New Delhi. Mr. Senthilnathan S. deputy secretary, Department of Commerce, Government of India inaugurated the proceedings of BSM at Hotel Radisson Blu, Dwarka.
In the first edition itself, the BSM has witnessed very encouraging response with 27 leading Indian silver jewelry manufacturers displaying a wide range of exquisite silver jewelry products to 49 International buyers from 16 countries consisting of silver jewelry wholesalers, retailers, traders & chain stores from nations such as Algeria, Australia, Egypt, Ireland, Jordan, UAE, UK, Uzbekistan, Kazakhstan, Kenya, Lebanon, Oman, Russia, Singapore, Sri Lanka, Tanzania.
Pramod Kumar Agrawal, GJEPC chairman said, “There is a growing demand for silver jewelry or alternative metal globally. India can capitalise of this as it has the capability and skills to produce quality silver jewelry matching international standards. The focus of the sector is to garner foreign exchange and increase value addition thereby generating employment in the sector. Silver jewelry product from India needs adequate exposure in the world market and thus steps like focused BSMs will help grow the demand for the product from India amongst consuming nations. We would also like to organise such BSMs in overseas markets by inviting potential buyers, thus giving maximum exposure to Indian silver jewelry manufacturers across the world. We are hopeful that the government would support this sector with trade friendly policies and thus help it to play a bigger role globally.”
Mr Agrawal further added, “Over the years, the demand for Made in India silver jewelry has increased worldwide. India has been offering a variety of designs, which are affordable and light weight. Moreover, India has added more value through bold use of diamonds and coloured gemstones.”
The silver jewelry exports from India stood at USD 3.38 billion in the year 2017, placing India amongst top 5 leading silver jewelry exporters in the world.
“The silver jewelry BSM will provide a never before opportunity to decision makers to meet with the participating manufacturers for sourcing silver jewelry, understand supply chain, business practices and culture, identify and develop new sourcing opportunities and substantially increase direct exports of silver jewelry to the targeted regions” said Mr. Dilip Shah, convener, International Exhibitions, GJEPC.
Lina Abouhalka, one of the buyers from Beirut which is the largest city of Lebanon, attending the event said, “It is a fantastic initiative from GJEPC showcasing the true strengths of jewellery craftsmanship in India. The buyer and seller meet is very promising which gives an opportunity to explore fine silver jewellery collections.”
She also said, future will be of silver jewelry since gold is getting expensive day by day.
Apart from such BSMs, GJEPC in its continuous endeavor to promote Indian gem & jewelry exports undertakes various initiatives like India International Jewelry Show (IIJS), Asia’s largest gem & jewelry trade show; Signature IIJS and world’s only jewelry week ‘India International Jewelry Week’. GJEPC has been organizing India pavilions at various international shows including Hong Kong International Jewelry Show and Basel World, Carat +, Singapore Intl Jewelry Expo, Vicenza Oro Fall, Bangkok Gem & Jewelry Show, Mid East Watch & Jewelry Show, Beijing International Jewelry Fair, Malaysia International Fair and Jewelry Arabia, and many more.
GJEPC will soon host the most prestigious India Diamond Week between 23rd – 25th October in Mumbai which will be in conjunction with World Diamond Council AGM and World Federation of Diamond Bourses (WFDB) Meet. Also, the second edition of India Gold & Jewelry Summit to be held in Delhi between 23rd and 24th November 2018.