GJEPC Hosts First International Buyer Seller Meet at Bharat Ratnam Mega CFC SEEPZ

22nd April 2024: The Gem and Jewellery Export Promotion Council of India (GJEPC), the apex trade organization dedicated to promoting Indian gem and jewellery exports worldwide, organised the International Gem and Jewellery Buyer Seller Meet (BSM) the first ever at the newly inaugurated Bharat Ratnam, Mega CFC SEEPZ in Mumbai. This event is specifically designed to cater to international buyers from the U.S., Latin America (Argentina, Brazil), Oceania, Australia, Dubai, Italy, Lebanon, South Africa and Uzbekistan; comprising a total of 33 international buyers from 25 companies.

Present on the occasion were: Mr. Ranjit Rawool, Senior Authorised Officer (SEEPZ); Mr. Kirit Bhansali, Vice Chairman, GJEPC; Mr. Colin Shah, Head – Working Group, Bharat Ratnam – Mega CFC; and Shri Sabyasachi Ray, ED, GJEPC.

The iconic Mega CFC SEEPZ provided international standard facilities for the diverse groups including key stakeholders from various sectors of the diamond industry, large chain retailers, wholesalers, importers, top designers, distributors, and retail jewellers from around the world.

Mr. Vipul Shah, Chairman, GJEPC, said, “The first ever International BSM meet at Mega CFC promotes India as a hub for ‘Make in India’ jewellery and showcases our technological advancements. Through the Buyer Seller Meets (BSM), Indian gem and jewellery manufacturers presented an extensive array/ variety in offerings, which incorporated ‘Finished diamond jewellery and loose diamonds’ from India. The BSMs reinforce India’s positioning as the primary source for quality jewellery that is on-trend, fashion-forward, and margin-friendly especially for bespoke jewellery. This BSM event showcased a comprehensive view of the Indian jewellery industry, covering both the production and supply side for the International consumer retail business.”

Mr. Kirit Bhansali, Vice Chairman of GJEPC, said, “Today marks a historic milestone for India’s gem & jewellery industry, as we gather here at the Bharat Ratnam Mega CFC, SEEPZ, Mumbai, for the first ever show to be held since its inauguration. This exclusive gem and jewellery Buyer Seller Meet (BSM) will facilitate meaningful engagement between exhibitors and international buyers. Indian gem and jewellery industry is taking all efforts to enhance its trade relationship with buyers across the world. Indian Govt. has taken several steps and initiatives towards achieving gem and jewellery exports targets and the FTAs and Bharat Ratnam, Mega CFC are significant initiatives in this direction.”

Mr. Colin Shah, Head – Working Group, Bharat Ratnam – Mega CFC, and past Chairman, GJEPC, said, “The first ever Buyer Seller Meet (BSM) at Bharat Ratnam Mega CFC is a proud moment for all SEEPZ jewellery exporters and we have all participated whole-heartedly to make it a grand success. Bharat Ratnam Mega CFC is truly a unique initiative taken by India and you will not find it anywhere else in the world. It has several facilities such as the 3D Printing facility, which is the first in Asia. This BSM Meet has something for everyone and it will help international buyers to do more business in India.”

Mr. Theodore M. Pizanis from Janu Gems Inc., California-based wholesaler in business for over 3 decades,  said, “India is a good sourcing hub for ruby, tanzanite, emerald, big tourmalines and sapphire among precious stones; and facetted and cabochon coloured stones. I find Indian manufacturers to be knowledgeable and at the cutting edge of business and technology in whatever they do. I admire their craftsmanship and expertise in setting small diamonds in jewellery.”

Ms. Melinda Kavanaugh from Lindy’s Inc. said, “I have been dealing in everyday wearable jewellery since 25 years. India is a good sourcing destination for natural diamond and gemstone jewellery, and I have been dealing with Indian vendors for a long time and highly appreciate their willingness to customise products specially for my clients, who prefer not so flashy jewellery. I appreciate the mix of jewellery available at this BSM event. Indian jewellers are very good at customizing jewellery; especially in terms of a quick turnaround. I am very fascinated by Bharat Ratnam Mega CFC Concept and looking forward to the tour of all facilities in one building.”

Judith Fisher, Senior Vice President – Merchandising at Reeds Jewelers said “Indian manufacturers have made tremendous headway in honing their manufacturing skills by investing in technology and innovation. Even the designs are more in alignment with global aesthetics.” She praised Indian manufacturers, saying, “they are hungry for knowledge and are invested in understanding their customers. As for trends, Judith adds,” Yellow gold with high polish has made a massive comeback in the US, and today’s generation is keen on personalizing their jewellery.”

Shaheer Hosh from Cristino Fine Jewelry, U.S., said, “In America, customers continue to prefer natural diamonds for key celebratory milestones such as engagements, anniversaries and weddings. Indian jewellery adds a distinct touch to jewellery with gemstones and coloured diamonds. It is exciting to come to India and witness how Indian manufacturers  keep evolving to the next level.”

Jill Borgerding Jillian Samuels Jewelry said, “This is my first visit to India and I am truly enamoured by the colours, designs and patterns. Indian exporters are customer-centric and it is easy to do business with them and make them to adapt to the requirements of the Western market.” Speaking about the BSM venue, Bharat Ratnam – Mega CFC, she said that it’s an impressive complex, with multifold benefits, especially for small and medium jewellery exporters.”

The BSM followed a structured Buyer Seller Meet format, featuring pre-scheduled one-on-one meetings lasting approximately 30 to 40 minutes between buyers and sellers during the two day meet.

The United States holds immense significance for the Indian gem and jewellery industry. Notably, cut and polished diamonds account for a substantial portion of these exports. India’s pivotal role in the global gem and jewellery supply chain have created deep-rooted ties between the two nations. GJEPC has further lined up events aimed at providing Indian gem and jewellery manufacturers with global exposure in the near future.