Bilateral trade with CIS countries beneficial for India

IN order to discuss the benefits of having bilateral trade relations with CIS countries, The Gem and Jewellery Export Council GJEPC conducted a conference in Mumbai, September 13, 2006.

Highlighting various facts about the CIS countries, Chairman GJEPC, Bakul Mehta, said �In the CIS countries the Russian is the commonly spoken language so at times communication becomes problematic for traders. India�s potential in gems & Jewellery is not known generally by the CIS traders. The main source of gems & jewellery in all these CIS countries is Turkey, Dubai & Italy. There are no diamond mines in these countries Coloured Gemstones are explored partially in some of these countries and it is assessed that a lot has remain unexplored.�

The Gem & Jewellery Export Promotion Council recently led a delegation to CIS Nations. Mr. Sanjay Kothari, Convener Promotion, Marketing and Business Development, GJEPC, led an 8-member delegation to the CIS nations from August 20 � September 4, 2006. The CIS nations visited include Armenia, Georgia, Azerbaijan, Ukraine and Kazakhstan. The delegation had a representation of leading manufacturers from different sectors such as Diamond, colored gemstones and Silver and Jewellery.

The key objective of the visit was to strengthen bilateral trade between the Gem and Jewellery (G&J) industry in India and CIS countries. The delegation explored the potential of the Gem & Jewellery market in the CIS nations, analyzed the possibility of sourcing raw materials , supplying cut & polished diamonds & gold jewellery and discussed cross participation in Jewellery Exhibitions in their countries as also in GJEPC�s India International Jewellery Show . The delegation played a significant role of exploring new markets for further developing the Indian Gem & Jewellery Industry.