GEM AND JEWELLERY EXPORT PROMOTION COUNCIL

Gem and Jewellery Exports Promotion Council was started in 1966 at Mumbai and the Chennai chapter was started in 1985. The council is an apex body, serving the Diamond industry at both national and international levels. It represents over 7,000 exporters of gems and jewellery from India. The council is governed by the Ministry of Commerce and elected representatives from the industry. It has helped take the Indian Diamond industry from a Rs 22 crore industry in 1966, to a Rs 30,000 crore industry in 1999-2000.

The Council is involved in the promotion of the export of diamonds, coloured gemstones, processed and polished pearls, precious metal jewellery, fashion and costume jewellery, non-gold / silver jewellery and cut and polished synthetic stones. The Council also promotes sale to foreign tourists visiting India. It is therefore one of the largest foreign exchange earners for the country.

The Chennai office caters to the need of the entire southern region. The Council organises training programmes for jewellery designing, diamond identification and grading course, coloured gemstone course etc. To further exports it also conducts seminars and workshops on business opportunities abroad and provides market information to its members regarding foreign trade inquiries, trade and tariff regulations, rates of import duties and information about jewellery fairs and exhibitions. It coordinates buyer- seller meets and addresses trade grievances.

The major factors that influence exports of gem and jewellery from Chennai, is its expertise in manufacturing traditional jewellery, which comes from Coimbatore. Coimbatore is a major manufacturing centre for traditional jewellery. The other factor that influences this market is the NRI community, who form the major customer base. Among the NRIs, traditional jewellery seems to be preferred over branded jewellery. Typically these gems and jewels are exported to countries like USA, UAE and Singapore. Since the market for traditional jewellery is limited, there is only one jeweller who is exporting branded jewellery from Chennai.

The Council is an effective link between foreign buyers interested in importing gems and jewellery from India. If the foreign buyer writes to the Council indicating the jewellery that he wishes to buy from India, the information is circulated among Council members and the replies from Indian exporters along with product details is promptly sent to the buyer. The Council also provides letters of introduction and lists of foreign buyers to Indian exporters of gems and jewellery. Member firms who are planning a trip abroad to promote the exports of gem and jewellery can write to the Council, giving details of the products they wish to sell. The Council then provides a list of possible buyer's abroad.