GJEPC's first ever e-IGJS launches with participation from 56 countries
The Gem and Jewellery Export Promotion Council’s first online edition of its trade show ‘International Gem & Jewellery Show’ launched on Monday to welcome buyers from 56 countries amid hopes of increased exports.
Over 500 buyers have signed up to the first edition of e-IGJS, which runs exclusively online from January 18 to 22. The trade show aims to boost post-Covid financial recovery for Indian jewellery businesses and link them with international buyers to increase exports.
“Today, India is one of the fastest growing global economies,” said Minister of State for Commerce and IndustryHardeep Singh Puri, at the trade show’s online inauguration ceremony, the GJEPC reported on its website.
“An educated and young workforce, a large capital market, and business-friendly ecosystem are some of the key factors that encourage foreign investment and support it in India. India’s gems and jewellery sector has been contributing in a big way to the country's foreign exchange earnings. Government has viewed this sector as a thrust area for export promotion, and therefore allows 100% foreign direct investment in this sector through the automatic route.”
The trade show features diamond jewellery, loose gemstones, gold, silver, and platinum jewellery, and coloured stone jewellery. Over 100 Indian gem and jewellery manufacturers are exhibiting their products digitally at the virtual event.
“The disruptions caused by Covid pandemic posed a serious challenge to the exporters of this sector,” said Ministry of Commerce and Industry joint secretary, Suresh Kumar, at the inauguration.
“However, the industry remained resilient and has been gradually improving to move towards the path of recovery. I'm happy to note that the gems and jewellery exports from the country are back to pre Covid levels in the last quarter. We acknowledge the contribution of the members of the industry and the Export Promotion Council in emerging fairly unscathed to this unprecedented crisis.”
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