GJEPC plans developing newer markets

The Gems and Jewellery Export Promotion Council (GJEPC) is considering building business opportunities for the Indian gem and jewellery industry, in new markets like China, Middle East and Russia. The Council has sent two delegates to China and expects the India-China jewellery sale contribution to the world to increase from the present 15 percent to 30 percent within five years.

India’s total gems and jewellery exports from the period April to November valued at $17 billion, and the Council is hopeful the figure would rise and so would sale of diamond and diamond jewellery, reports add. GJEPC had established the Anant diamond jewellery campaign, to promote single-line diamond jewellery in the country, which it is keen on taking to the Middle-East markets in some time. The campaign would be a strong platform for the Council to establish India’s mark in the global gem and jewellery market.

Post the economic slowdown, the U.S. market which accounts for 50 percent of the global jewellery sales, offers a lesser attractive market today, but opportunities seem to be rising in the new emerging markets.