GJEPC meets with US consul general in Mumbai to discuss US-India jewellery trade

By

Isabelle Crossley

Published
Jan 27, 2020

The Gem and Jewellery Export Promotion Council held a meeting with the US consul general in Mumbai to make a case for sustainable growth in India’s gem and jewellery industry and discuss US-India trade.

 
The GJEPC’s chairman Pramod Kumar Agrawal hosted a meeting with US consul general in Mumbai David J Ranz and other US Consulate officials, January 22, the GJEPC announced on its website. Agrawal was joined by the Bharat Diamond Bourse’s vice president Mehul Shah and the GJEPC’s convenor Sanjay Shah and executive director Sabyasachi Ray.
 
After making a presentation on the GJEPC’s role in and contribution to the Indian jewellery industry and India’s economy as a whole, the GJEPC’s representatives shared their vision for ameliorating the sector. Representatives shared that India is currently ranked sixth worldwide in gem and jewellery exports and reported that India now exports 93% of the world’s cut and polished diamonds.

The GJEPC representatives stressed the importance of India-US trade ties and reported that India exports 35% of its total cut and polished diamonds to the US. India-US bilateral gem and jewellery trade increased from $11.94 billion (Rs 79,433.84 crore) in the 2015 financial year to $18.67 billion in the 2019 financial year, according to the GJEPC. 
 
The GJEPC argued the need for sustainable development in the sector and shared its initiatives to this end. The organisation shared that it aims to improve infrastructure and increase employee welfare.