Gems & Jewellery Export Council explores Mediterranean markets

A nine-member delegation of the Gem & Jewellery Export Promotion Council (GJEPC) which recently visited Turkey, Lebanon, Jordan, Egypt and Italy to boost gems and jewellery exports has reported good potential for export of loose diamonds, cut and polished diamonds and jewellery, said GJEPC chairman Sanjay Kothari.

India, with 92 per cent global market share in terms of pieces in diamond manufactured, can also target these nations for export of cut and polished diamonds and gemstones.

Most importers in these countries buy from Antwerp and Dubai presently as awareness about India's gems and jewellery sector is limited.

Kothari said high import duty on jewellery was a deterrent for better trade relations with these countries. The delegation visited Arezzo and Vicenza in Italy to identify buyers.

It met potential buyers and exhibitors to ask them to participate in the forthcoming India International Jewellery Show in July.