Gem and jewellery exports to surge
Sri Lanka's gem and jewellery export revenue will surge this year
following the enormous exposure the country received at the
International Coloured Gemstone Association (ICA) Congress held recently
in Sri Lanka, Chairman, Facets Sri Lanka, Juzar Adamaly said on the
sidelines of the 16th Congress at the Cinnamon Grand recently.
He said a large number of buyers and dealers across the world at the
Congress were highly impressed with the country and the range of
exquisite products it offers to the global market. It is premature to
put a figure but certainly export revenue will spike within a month or
two.
The ICA Congress was held in Sri Lanka for the second time, the first
being in 1989. Around 46 countries and 250 registered foreign buyers
attended this year's event which also marks the 30th anniversary of the
ICA Congress, a global association for coloured gemstones.
"Our exhibitors have received a large number of orders from
globally-renowned merchants. Our export performance has been
satisfactory thanks to Governments which have been supportive.
"The industry is pleased with the opening of the gateway to the
Chinese market which is Sri Lanka's second largest market after the
USA," Adamaly said. Sri Lanka exports precious stones to Russia and the
Middle East, Europe and India. Sri Lanka's Blue Sapphires are sought
after in the global market and our precious stones adorn the rings of
world-renowned personalities. The export income from gem stones last
year was Rs. 18,652,182,097, jewellery - Rs. 2,466,727,942 and diamond
re-exports - Rs. 25,632,624,157.
The gem and jewellery industry employs around 650,000 workers and
accounts for around 4,500 exporters. National Gem and Jewellery
Authority sources said that they hope to make Sri Lanka the hub for
sapphires and achieve a export revenue of US $ 1 billion.
The ICA Congress and the Facets exhibition provide wide exposure to
the country’s precious stones to the world. Many participants at this
year’s congress are impressed with what Sri Lanka has to offer to the
word,” Adamaly said.
Facets 2015 will be the 25th exhibition in the series and will be
held at the end of the year at the BMICH. Gem and jewellery exhibitors
said that Sri Lanka with a skilled work force and technology has the
potential to be a leading exporter of precious stones in the region
We have good lapidary facilities which should be improved to bring
out calibrated stones which have good demand. Tiffany, Bulgari and
Cartier are some of the buyers of Sri Lankan precious stones.
The ICA Congress is held biennially. Advisor and Consultant, Blue
Diamond Jewellery Worldwide Plc, Dr. M.G.M.S. Zurfick said that Sri
Lanka can achieve US$ 10 billion in export revenue from the gem and
jewellery industry by showcasing its products in China and other major
markets across the globe. “We have good products which need to be
aggressively promoted. Upgrading our cutting and polishing technology
and working skills will help boost exports,” he said.
Sri Lanka’s gem and jewellery industry employes around 70,000 workers
who comprise miners, cutters and polishers, dealers, jewellery
designers, manufacturers and craftsmen, marketeers and sales people.
Sri Lanka is home to over 70 varieties of coloured stones of the
around 200 found in the world and it is among the five most important
gem-bearing nations of the world.
The ‘Ceylon Sapphire’ has been its major strength, attracting global
buyers to the exquisite stone. The State Gem Corporation set up in 1971
was vested with the task of developing, regulating and promoting the gem
and jewellery industry. This task was then vested with the National Gem
and Jewellery Authority which was set up in 1993.
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