By Michelle Graff
Mumbai—India’s Gem & Jewellery Export Promotion Council is holding an online event this month connecting buyers and sellers of loose diamonds.

The “virtual buyer and seller meet,” a first for GJEPC, is scheduled to take place Aug. 27 and 28, connecting Indian jewelry manufacturers with buyers from around the globe.

GJEPC said buyers from nearly a dozen countries are expected to attend, including the United States, United Kingdom and Europe.

“The demand for gems and jewelry is slowly recovering in markets like the USA, China and other parts of the world,” said GJEPC Chairman Colin Shah. “We need to make sure that we reach out to these buyers and meet their requirements.”

Following the loose diamond meetup next week, GJEPC plans to hold similar events for the trading of colored gemstones, diamond jewelry, gold jewelry and platinum jewelry.

The coronavirus pandemic has taken a toll on India’s jewelry industry, with first-quarter gem and jewelry exports falling 55 percent year-over-year to $2.75 billion amid a drop in demand and the forced closures of the country’s jewelry factories and trading centers.

COVID-19 also prompted GJEPC to push its August jewelry trade show to January.

“GJEPC is hosting VBSMs at a very crucial time of the year. We are likely to see demand for gems and jewelry increase from August, owing to the upcoming holiday season in the Western countries,” Shah said.

“The VBSM will be a platform that will give our exhibitors in India as well as buyers from across the world an opportunity to interact and make decisions in a similar way as they do at a physical show.”

For more information and to register, visit the GJEPC website.

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