GJEPC Flags Off First-Ever VBSM For Emeralds

Jaipur is a major hub for coloured gemstones. For generations manufacturers from this city have been finding new avenues to showcase finest of their gemstones so as to catch the attention of the global buyer, who can give them a good price for their products. Physical buyer-seller meets cannot happen during the pandemic and there was global lockdown for the first half of 2020, business has been badly affected. In order to overcome all of these difficulties, GJPEC has for the first time organized a Virtual Buyer-Seller Meet (VBSM) for coloured gemstones – especially Emeralds -- beginning today and closing on November 6.

The Gem and Jewellery Export Promotion Council of India (GJEPC), the apex body for promotion of gems and jewellery, inaugurated the first-ever rough gemstone souring show in the presence of Chief Guest, Subhash Chandra Agrawal, Commissioner of Customs (Preventive), Jaipur; Colin Shah, Chairman, GJEPC; Nirmal Kr. Bardiya, Regional Chairman, Jaipur Region; Vijay Kedia, Convener, Coloured Gemstones and Pearls, GJEPC; Sabyasachi Ray, ED, GJEPC along with others. With an intention to make gemstones available for Indian cutting and polishing industry and also to enable direct sourcing of rough coloured diamonds, GJEPC has organised a month long first-ever rough gemstones sourcing show, India Rough Gemstones Sourcing Show - 2020, which commenced today and will be open till December 11, 2020.

According to Chairman of GJEPC, Colin Shah, “There are a lot of gemstone manufacturers in Jaipur, who have flourishing business, with a little push from the government, their business can really come up and it will help entrepreneurs. We are making a common facility centre. A lot of business is coming in from Mumbai. It will help doubling this business and help in getting the business back from Thailand and China. Besides that we have a lot of business ties in Columbia, we will get a lot of customers from there. We definitely intend to strengthen of South American connections. I wish all the best to all exhibitors and buyers.”
Over the years, Indian coloured gemstones industry has expanded widely. Says Vijay Kedia, Colour Gemstone Panel convenor, GJEPC, “This virtual buyers sellers meet is especially for emeralds. We have incorporated semi automatic polishing machines. Jaipur imports all kinds of coloured gemstones from all over the world – from Zambia, Tanzania, among other African countries. The artisan is important here, emeralds, sapphire, tourmaline, aquamarine, citrine, amethyst, etc in various shapes can be made in Jaipur. GJPEC is working hard to bring together suppliers and buyers from all over the world in this virtual buyer-seller-meet. Buyers can access all gemstone suppliers on one platform.”

Speaking about government support for the initiative, Suresh Kumar, Joint Secretary, Government of India said, “GJEPC is taking this initiative for emeralds. At least 90 per cent of emeralds used across the world, come from India. The pandemic has thwarted the effort to bring together buyers and sellers in real time – so this VBSM becomes very important. Participants have come in from all over the world. This virtual meet is better than physical one-to-one meet. This technological advantage should be harnessed by Indian G & J sector. Indian love for jewellery has a long standing history dating back to thousands of years. India has a dominant position – we have nearly 6.9 per cent of world’s share of exports. Jaipur will become the global centre for gems and jewellery. The coming weeks are auspicious for purchase of G & J and therefore hold the promise of bringing in good business.”

Informs Sabyasachi Mukherjee, Executive Director, GJEPC “The Council is trying to network with sellers from all over the world. Our international coordinators have helped us build this VBSM for coloured gemstones. Our whole team strives hard to make this possible. The technical team has worked hard to ensure that the accurate colours and finer aspects of all the gemstones are clearly visible during the VBSM.”

In the next three days, by way of this VBSM the council hopes to revive the business lost during lockdown and enrich the coloured gemstones manufacturers in India.