A delegation from the Gem and Jewellery Export Promotion Council (GJEPC) recently embarked on a tour of Brazil, Colombia, and Panama to explore new markets, enhance India’s exports, and strengthen economic ties within the Latin American and Caribbean (LAC) region.
The visit, conducted from May 21 to 29, was led by GJEPC Vice Chairman Kirit Bhansali, and included prominent industry leaders and representatives from key Indian jewellery companies.
Brazil: Expanding Market Opportunities
In Brazil, the delegation engaged in discussions with key industry leaders to explore potential collaborations and market expansion. A meeting with Ecio Morais, Director of the Brazilian Institute of Gemstones and Precious Metals (IBGM), included discussions about establishing an India Pavilion at the Feninjer jewellery show. The delegation also held talks with major players such as the Monte Carlo group and SAUER Group’s CEO, aiming to strengthen business ties and explore partnership opportunities. Additionally, meetings with major retailers like H Stern and Vivara facilitated networking opportunities, reinforcing the delegation’s commitment to bilateral trade relations.
Colombia: Strengthening Trade Relations
The Colombian leg of the tour focused on reinforcing trade relations and understanding local market trends. A networking lunch with Shri Vanlalhuma, the Indian ambassador to Colombia, facilitated discussions on promoting Indian jewellery. Guided by Ali Pastorini, President of the World Jewelry Hub (Mubri) and LAC GJEPC coordinator, the delegation interacted with Colombian jewellers to gauge the potential for Indian products in the market. The delegation also aimed to encourage participation in the India International Jewellery Show (IIJS) and upcoming Buyer-Seller Meets, while gathering insights into Colombia’s import and export policies.
Panama: Enhancing Economic Ties
In Panama, the delegation concentrated on enhancing India’s presence in the LAC region’s gems and jewellery sector. An event organised by the Indian Embassy in Panama and GJEPC highlighted shared trade goals, while a networking dinner provided a platform for Indian and Panamanian companies to explore technological advancements and potential collaborations. Sumit Seth, Indian ambassador to Panama, Costa Rica, and Nicaragua, emphasized the importance of bolstering economic ties between India and Panama.
Quotes from GJEPC Leadership
GJEPC Chairman Vipul Shah expressed his pride in the delegation’s achievements, stating, “Our engagements in Brazil, Colombia, and Panama have not only showcased the craftsmanship and diversity of India’s gems and jewellery sector but also paved the way for enduring partnerships. We are committed to expanding India’s footprint in the global market, and this tour has been a significant step towards strengthening our economic ties with the Latin American and Caribbean region. The future is bright, and we look forward to a flourishing exchange of culture, commerce, and trading of gems & jewellery in these regions.”
Bhansali added, “Our engagements in these Latin American countries were fruitful and inspiring. The rich histories, cultural wealth, and economic potential of Brazil, Colombia, and Panama provide a foundation for mutually beneficial partnerships. I extend gratitude to the retailers and people of those countries for their hospitality and support. The camaraderie during this tour has set the stage for a brighter future for the gem and jewellery sectors of our nations.”
Implications for the Jewellery Industry
The GJEPC delegation’s tour of Latin America underscores the importance of international market expansion for India’s gems and jewellery sector. By forging new relationships and understanding regional market dynamics, Indian jewellers can better position themselves to meet global demands. These efforts enhance bilateral trade and promote the exchange of technological advancements and industry best practices.
For professional jewellers, the insights gained from this tour highlight the potential for growth in the LAC region. Engaging with local markets, understanding consumer preferences, and navigating import-export policies are critical steps towards expanding global reach. The GJEPC’s approach sets a precedent for future initiatives aimed at boosting India’s presence in the global jewellery market.