GJEPC DELEGATION VISIT TO LATIN AMERICA: STRENGTHENING TRADE TIES IN BRAZIL, COLOMBIA, AND PANAMA

6th June 2024

The Gem and Jewellery Export Promotion Council (GJEPC) organised a delegation visit to Latin America from 21st to 29th May 2024. Led by Mr. Kirit Bhansali, Vice Chairman, GJEPC, the delegation toured Brazil, Colombia, and Panama to explore markets, boost India’s exports, and build stronger economic ties in the Latin American and Caribbean (LAC) region

The GJEPC delegation included Mr. Anish Birawat, Managing Director, Chain N Chains Jewels Ltd.; Mr. Shailesh Sangani, Founder, Priority Jewels; Mr. Anilkumar B. Virani, Director, M/s Karp Impex Limited and Partner, M/s Ethereal Green Diamond LLP; and Mr. Yash Shah, Partner, The Lalit Gems Co. & President, The Dia Box Inc (US subsidiary of The Lalit Gems Co.)

Mr. Vipul Shah, Chairman, GJEPC, said, “I am immensely proud of the strides we have made during our recent delegation visit to Latin America. Our engagements in Brazil, Colombia, and Panama have not only showcased the unparalleled 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 vibrant and dynamic regions.”

Mr. Kirit Bhansali, Vice Chairman, GJEPC said, “Our engagements in these vibrant Latin American countries have been both fruitful and inspiring. The rich histories, cultural wealth, and economic potential of Brazil, Colombia, and Panama provide a strong foundation for mutually beneficial partnerships. I extend my heartfelt gratitude to the retailers and people of Brazil, Colombia, and Panama for their warm hospitality and invaluable support. The camaraderie and collaborative spirit experienced during this tour have set the stage for a brighter, more prosperous future for the gem and jewellery sectors of India and these esteemed nations. Together, we are poised to achieve remarkable milestones that will benefit our industries and peoples. We look forward to continuing this journey of shared growth and enduring partnership.”

In Brazil, the delegation met with key industry leaders to discuss potential collaborations and market expansion. Highlights of the visit included a meeting with Mr. Ecio Morais, Director of IBGM, organisers of the popular Feninjer jewellery show in São Paulo. Discussions centred on creating a dedicated India Pavilion for exhibitors dealing in loose stones.

The team also held talks with the Monte Carlo group, the second-largest jewellery store chain in Brazil, exploring opportunities to strengthen business ties between the two nations. Additionally, the delegation conferred with the CEO of SAUER Group, a reputed name in the Brazilian jewellery sector, focusing on potential partnerships and market expansion strategies. Meetings with representatives from the prominent jewellery group ESMEBRAS further underscored the delegation’s commitment to building strong bilateral trade relations.

The delegation participated in interactive meetings with the Indian Embassy in Brazil and major retailers such as H Stern, Monte Cristo, Vivara, VQ Jewellery, and Villar Joias, facilitating valuable networking opportunities.

Continuing their tour, the GJEPC delegation visited Colombia, where they engaged in several key activities to enhance trade relations. A networking lunch with the Ambassador of India to Colombia Mr. Vanlalhuma provided a platform to discuss promoting Indian jewellery in the Colombian market. The delegation also toured local jewellery markets, gaining insights into the latest trends and consumer preferences.

Ms. Ali Pastorini, President of Mubri and GJEPC coordinator in the LAC region, facilitated interactions with Colombian jewellers, highlighting the potential for Indian jewellers to tap into the growing demand for high-quality, diverse jewellery products in the region. The delegates aimed to promote participation in the India International Jewellery Show (IIJS) and upcoming Buyer-Seller Meets by understanding Colombia’s import and export policies.

In Panama, the GJEPC delegation aimed to solidify India’s presence in the LAC region’s gems and jewellery sector. During their visit, the Indian Ambassador to Panama, Costa Rica & Nicaragua, Dr. Sumit Seth, addressed the gathering, emphasising the importance of strengthening economic ties between India and Panama. The event, organised by the Embassy in collaboration with GJEPC, highlighted the shared goals of increased trade and collaboration.

At a networking dinner, Indian and Panamanian companies explored avenues to enhance trade by adopting the latest technology. This event provided an invaluable opportunity for the delegates to forge new connections and discuss potential collaborations with leading Panamanian companies.

Through these strategic engagements in Brazil, Colombia, and Panama, the GJEPC delegation aims to bolster India’s gems and jewellery exports, building stronger economic ties and facilitating collaborative opportunities in Latin America, thereby driving growth in the Indian gems and jewellery sector.

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today around 10,000+ members in the sector. With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat, and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.