GJEPC inks pact with De Beers, China’s gem exchanges

The Dollar Business Bureau

 

The Gem Jewellery Export Promotion Council (GJEPC) on Thursday signed agreements with a leading diamond company in the world, De Beers and two major Chinese gems exchanges in the promotion of trade. 

Guangdong Gems and Jade Exchange (GDGJE) and Guangzhou Diamond Exchange are two of the largest gems and jade trading gateway in the southern region of China.

The pacts were inked at the launch of the 33rd edition of annual India International Jewellery Show (IIJS), a B2B event that provides a platform to the global gem and jewellery industry in order to explore several multi-faceted aspects of the gem industry of India.

“GJEPC has signed an MoU with the world's leading diamond company, De Beers, to undertake promotional activities to drive consumer demand for diamond jewellery in the country. The marketing campaign will be run over the key selling season, and the funding will be agreed by both GJEPC and De Beers,” the apex body said in a statement. 

Bruce Cleaver, CEO of De Beers Group said, “India is of vital importance to the company’s future and is at the core of the diamond market.”

“India is one of the most crucial markets in the world for retail sales of diamond jewellery. We believe the country has exciting opportunities for growth in future,” he added. 

Manoj Dwivedi, Joint Secretary, Ministry of Commerce, said, “The Government and GJEPC are jointly and passionately working to take the Indian gems and jewellery industry to the next cycle and next level of progress.”

“The priority of the Government is employment generation and India’s huge labour force has to be utilised in an optimal way in order to increase skill sets and productivity,” he added.

Praveenshankar Pandya, Chairman of GJEPC, said, “The gems and jewellery sector significantly contribute to the country in terms of employment, exports and major economic indicators.