The Gem & Jewellery Export Promotion Council (GJEPC) held its first ever India silver jewellery Buyer Seller Meet (BSM) between October 3 and 5 in New Delhi. The event was inaugurated by Indian Government Department of Commerce Deputy Secretary Senthilnathan S.
The meet saw 27 leading Indian silver jewellery manufacturers displaying a wide range of product to 49 buyers from 16 countries. The buyers ranged from silver jewellery wholesalers, through retailers, traders and chain stores from Algeria, Australia, Egypt, Ireland, Jordan, UAE, UK, Uzbekistan, Kazakhstan, Kenya, Lebanon, Oman, Russia, Singapore, Sri Lanka and Tanzania.
GJEPC Chairman Pramod Agrawal said, “There is a growing demand for silver jewellery or alternative metal globally. India can capitalise on this as it has the capability and skills to produce quality silver jewellery matching international standards. The focus of the sector is to garner foreign exchange and increase value addition, thereby generating employment in the sector.”
He added, “Silver jewellery product from India need exposure in the world market and thus events like this BSM will help grow demand for the Indian product. We would also like to organise such BSMs in overseas markets by inviting potential buyers, thus giving maximum exposure across the world to Indian silver jewellery manufacturers. We are hopeful that the government will support this sector with trade-friendly policies and thus help it to play a bigger role globally.”
Agrawal went on to say, “Over the years, the demand for ‘Made in India’ silver jewellery has increased worldwide. India has been offering a variety of designs, which are affordable and light-weight. Moreover, India has added more value through bold use of diamonds and coloured gemstones.”
Silver jewellery exports from India stood at $3.38 billion in 2017, placing India amongst top 5 silver jewellery exporters in the world.
“The silver Jewellery BSM will provide an opportunity for decision makers to meet with the participating manufacturers to source silver jewellery, understand the supply chain, business practices and culture, identify and develop new sourcing opportunities and substantially increase direct exports of silver jewellery to target regions” said GJEPC International Exhibitions Convener Dilip Shah.
Lina Abouhalka, one of the buyers from Beirut, Lebanon, who attended the event, said, “It is a fantastic initiative from the GJEPC, showcasing the true strengths of jewellery craftsmanship in India. The buyer and seller meet is very promising and provides an opportunity to explore fine silver jewellery collections.” She added that the future of silver jewellery was bright as gold was becoming prohibitively expensive.