GJEPC targets US$ 26 bn exports by 2009

Kolkata, Nov 26 (UNI) The Gem and Jewellery Export Promotion Council (GJEPC) is aiming at boosting gem and jewellery exports to US$ 26 billion by 2009.

GJEPC is organising visits to CIS countries to develop markets in those countries, GJEPC chairman Sanjay Kothari said.

The export promotion council would send a delegation to Japan next year, Mr Kothari said.

Around eight companies would be sent to different cities in Japan to explore the market for gems and jewellery, he said.

For developing coloured gemstones efforts are on bring in the heat treatment project from Bangkok.

GJEPC would also set up training institutes in Jaipur and Kolkata for training artisans, the chairman said.

Gems and jewellery exports stood at US$ 16.66 billion in FY 2005-06.

The country has to advance from being world's largest manufacturer of cut and polished diamonds towards becoming the leading international trading centre, Mr Kothari said.

GJEPC wants to develop India as the only one-stop-shop for gems and jewellery and create a pool of artisans and designers trained to international standards, he said.

Presently, diamonds account for 71 per cent of the exports followed by gold jewellery (23 per cent) and coloured gemstones (1 per cent).

USA, Hong Kong and UAE are major diamong buyers and Belgium is a major supplier.

Other gems and jewellery export markets include Japan, Israel, Thailand, UK, Switzerland, Germany and Australia.

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