The Gem and Jewellery Export Promotion Council is exploring the possibility of enhancing trade with Pakistan. It recently led a 12-member delegation to participate in the Pakistan International Gem and Jewellery exhibition in Karachi.
India exported gem and jewellery worth $17.69 million (about Rs 98 crore) to Pakistan in FY'12, while imports from that country stood at $0.31 million (about Rs 1.70 crore). The gem and jewellery market in Pakistan is valued at $10 billion (Rs 55,000 crore).
Mr Sanjay Kothari, Vice-Chairman of the Council said there has been limited trade between the Pakistan gem and jewellery traders and their Indian counterparts. This was essentially through Dubai.
“The Council identified an opportunity to harness the trade with Pakistan by directly dealing with them. We also highlighted the Indian talent and business potential,” he said.
The delegation also visited gem and jewellery trade organisations, associations and key retailers in Pakistan for better understanding of the trade functioning and to identify the potential areas for developing bilateral trade between the two countries.
In February, the sector lobby organised an exclusive jewellery pavilion called the ‘India Show' with 17 top Indian participants in Lahore.