GJEPC Knocks at Door to $12 Billion Pakistan Market

Pakistan has a domestic gem and jewelry consumption of $12 billion annually. It also currently exports some $600 million in gems and jewelry, aiming increase this figure to $1.5 billion by 2015.

Domestic jewelry consumption is fuelled by a large supply of locally mined colored gemstones, diamonds that are mainly imported through Dubai, and an annual import of 170 tons of gold.

Kothari stated that the Indian delegation was extended an extremely warm welcome and that the visit had been very fruitful. He added that as a result, the Pakistani authorities are favorably considering direct auctions of colored gemstones – even in Jaipur. They are also considering the idea of joint Indian-Pakistani participation in trade shows in centers such as Dubai and Singapore.