GJEPC starts 4-day virtual buyer-seller meet

·1-min read

Mumbai, Nov 25 (PTI) The Gems and Jewellery Export Promotion Council (GJEPC) on Wednesday inaugurated a four-day virtual buyer-seller meet that aims to reach out to buyers from both existing and new export markets.

Commerce and Industry Joint Secretary Suresh Kumar said that although the gems and jewellery sector has taken a severe beating during this pandemic, in the last couple of months lots of up shoots have been witnessed.

Compared to September, the trade has increased 125 per cent in October.

'With the line-up of festivities in November, we will see a further increase in business in the last two quarters. Global travel may be impacted till mid-2021 and virtual platforms would be one way to create more business opportunities and ensure that business does not suffer,' Kumar said in a statement.

Virtual meets have been a successful ongoing series initiated by the Council and this platform has unlocked opportunities by reaching out to buyers from not only the traditionally strong export markets like the US, UK, Europe, Middle East and Hong Kong/China, but also non-traditional ones such as Latin America, Eastern Europe and many more. “Even during the pandemic, diamonds and diamond jewellery have remained the ultimate symbols of love and have outperformed other luxury categories. Revenge shopping by consumers across key markets have proved advantageous for the category. The imminent promise of a vaccine bodes well for our industry and we will enter 2021 on a high note of optimism,” GJEPC chairman Colin Shah said.

The Diamond Studded Jewellery VBSM is attended by 20 international buyers from ­­­­­­­­­­­­­­­­­­­the UK, Russia-CIS, Middle East, Latin America, Australia, Ireland, Spain, Lebanon, Brazil, Colombia, Ecuador, and Kuwait. PTI SM MR MR