GJEPC Hosts Buyer Delegation from CIS and East European Countries

A 70-member delegation representing 60 companies from 12 CIS and East European countries was in Mumbai March 24-25 to attend a special Buyer-Seller meeting organized by The Gem & Jewellery Export Promotion Council (GJEPC). It was one of many promotional steps that the GJEPC has been taking to extend the reach of the Indian industry.

Twenty-six prominent Indian exporters showcased their products including cut and polished diamonds and gemstones, as well as plain and studded jewelry in 18, 21, and 22 karat gold, platinum, and silver.

According to GJEPC Chairman Sanjay Kothari, “The meet was part of the Council’s effort to increase the business that Indian manufacturers and exporters have been doing in fast growing CIS markets.”

Some months ago, a GJEPC delegation visited CIS countries to develop contacts there.

Last November, an India pavilion was setup at Jeweller Expo Ukraine 2006, with nine companies from the country showcasing their merchandise.

The latest visit is hoped to take cooperation between India and the CIS to a higher level. The visiting buyers represented a market worth an estimated at $6-7 billion.

The organizers report that there was interest in purchasing loose diamonds, colored stones, and diamond-set jewelry, while some of the participants discussed the possibility of setting up joint ventures with Indian companies in their countries.