As many as 87 companies from across 21 countries are in Mumbai to take part in the 3rd India Diamond Week (IDW), a by invitation Buyer-Seller meet hosted by The Gem and Jewellery Export Promotion Council (GJEPC) with a focus on developing strong and long-lasting trade relationships. The IDW runs from October 15-17, 2019.

Welcoming the participants, GJEPC’s Executive Director Sabyasachi Ray said that there were indications that the market was picking up after a lull, making this the “right time to conduct business”. He further said that a structured event like the BSM, where the participants had dedicated time slots for one-on-one sessions over the first two days and open interaction on the third day, provided the “right kind of atmosphere” to get to know each other and forge long lasting ties.

GJEPC Chairman Pramod Kumar Agrawal said that the BSM platforms had been developed by the Council as it mutually helped both sides to grow their business networks, and said a lot of hard work goes in to matching the needs of the buyers and sellers prior to such events also.

Agrawal said that the huge response to this third edition of the India Diamond Week with buyers from all across the globe was a result of the efforts of GJEPC appointed business coordinators in each of these countries.

Introducing the Indian industry and the Council to the guests, he said the organisation was a bridge between the government and the trade on the one hand, but also worked to ensure that other stake holders including both employees and customers were also well cared for. He described some of the Council’s welfare programmes for artisans and their families, and also the efforts taken to enhance quality and ensure strict compliance with all international standards and norms, so as to deliver responsibly manufactured, quality products to the market.

Elaborating on new initiatives such as the Jewellery Park in Mumbai which would create the complete eco-system for manufacturing of international quality jewellery, and the forthcoming India Gem & Jewellery Show to take place in Jaipur next year, Agrawal said that the country was strengthening its position as the global hub  of the gems and jewellery trade.

Along with the 19 Indian companies exhibiting at the show there are 87 buyers from Australia, China, Egypt, France, Greece, Hong Kong, Israel, Italy, Lebanon, Russia, Netherlands, New Zealand, Russia, Saudi Arabia, Sweden, Taiwan, Thailand, UK, Ukraine, USA and Uzbekistan.

GJEPC’s international coordinators also briefly addressed the audience, and stressed that the careful matching of buyers and sellers would benefit both sides. They emphasised that both the exhibitors and visitors were serious and knowledgeable, which would enable speedy communications, well-informed negotiations and mutually beneficial deals.

Dilip Shah, Convener International Exhibitions Sub Committee, GJEPC in his concluding remarks, said that the exhibition hall showcased the capabilities of the Indian diamond industry and buyers could find all types of polished diamonds in a variety of shapes, sizes and cuts. The BSM format also enabled invited global buyers to deal directly with Indian suppliers and reduce cost of transactions for both sides, thus boosting bilateral trade, he said.

Pic caption: GJEPC committee members and officials seen with the international coordinators at the lamp lighting ceremony during the inauguration of the 3rd India Diamond Week in Mumbai