Gems and jewellery exporters in India are looking for enhanced trade relations with Pakistan
Seeking ways and means to expand trade and bilateral relations, a 12-member Indian delegation of the Gems and Jewellery Promotion Council (GJEPC) recently visited Pakistan and expressed its desire to enhance cooperation and trade in the gems and jewellery sector.
According to Sanjay Kothari, vice chairman GJEPC, trade has been limited between the Pakistani gems and jewellery traders and their Indian counterparts via Dubai and Singapore. “What is now needed is meticulous planning regarding dealing with goods movements and customs duty. India-Pakistan trade will see a 500 per cent increase due to sheer price competitiveness that India presents to the hitherto untapped Pakistani markets,” he remarked.
Mr. Kothari said the GJEPC has signed a seven point agenda with Pakistan to enhance trade in this field. This included improved duty structure between the two countries, exchange of students and faculty between the two countries, facilitation of direct import of gem stones from Pakistan, possible Indian exports of jewellery to Pakistan, participation of Indian contingent in Pakistan trade shows and jointly organising trade shows and conferences in countries like Dubai and Singapore. The delegation explored a long-term partnership to leverage the $12 billion worth gem and jewellery sector. The objective of the delegation included fostering strong bilateral trade relationship, interacting with the prospective traders and establishing areas of co-operation and ultimately establishing India as the most competitive centre for sourcing diamonds and jewellery globally and initiating direct trade between the two nations.