The Gem and Jewellery Export Promotion Council in collaboration with the Moscow Diamond Bourse are organizing the second edition of the Indo - Russian Jewellery Summit at the Hyatt Regency, Mumbai from 29-30 October, 2012 followed by factory visits over the following 2 days. The meet serves as a unique format for business between key players of the jewellery industry from the two participating countries.

The summit is intended to create a powerful platform for cooperation between Indian jewellery manufacturers and their Russian counterparts. The summit will be represented by 12 key leading players comprising of wholesalers and retailers from Russia who collectively have over 5000 outlets across Russia and CIS countries. The summit presents a tremendous opportunity for many of the visitors who may be looking towards India as a sourcing hub for the first time and hence the summit would enable them in obtaining a firsthand understanding of the various options for finished jewellery from India .

The 4 day event hosted by GJEPC, will enable the visitors to gain key insights that aim to highlight the high standards of Indian manufacturing, trade and technical expertise while the Indian traders would acquire a better understanding of trade and business opportunities, thereby extending their enterprise to have a wider reach into the Russian markets. The delegations look forward to establishing synergy between the two markets and to better explore new business and networking opportunities between two countries. The working program of the summit will therefore consist not only of business negotiations but will also include round table discussions and presentations from industry leaders, One-on-One meetings, networking events and factory visits followed by a sightseeing trip to Jaipur that are skewed to giving the visitors a complete view of the Indian gem and jewellery industry.

Commenting on the Indo Russia Jewellery Summit, Mr. Vipul Shah, Chairman GJEPC said "The GJEPC has over the years held successful meets with regions such as China, Europe, US, Russia/ CIS with the aim to bring together leading players of these regions with their Indian counterparts, thereby creating wider business opportunities and leading to substantial growth of trade with these countries. The successful Indo-Russian Jewellery Summit held last year as well as the Diamond summit held earlier this year have had a favorable impact on India's trade relations with Russia and we hope that this summit will help the representatives of the Indian and    

Russian Companies in getting a better understanding of each other's markets and forge relations which will go a long way to establish a forceful working relationship leading to large volume of business being transacted between the two countries."

India's gem & jewellery industry has been witnessing a growth of 10-15% year on year. The industry registered a considerable growth in the volume of exports from US$ 25.4 billion in the 2009 to US$ 46.36 billion in 2011 thus indicating a net increase of an enormous 82.5 %. Exports to Russia for 2011 increased from US$3.13 million in 2009 to US$ 8.2 million in 2011 indicating a net increase of 162 % while Imports from Russia stood at US$639.48 million, up 408.65% from US$ 125.72 million in 2009. This increase can largely be attributed to market recovery post the 2008-2009 worldwide recession, besides various combative measures undertaken by the Indian Government as well as the Council to boost foreign trade.

From L - R : Mr. Alex Popov , President Moscow Diamond Bourse, Mr. Vipul Shah , Chairman GJEPC, Ms. Reshma Lakhani , Jt Commissioner, SEEPZ, Mr. Sabyasachi , Executive Director , GJEPC.

Commenting on the Summit, Mr. Alex Popov, Chairman of the Moscow Diamond Bourse said, "These meets have widened the sourcing opportunities for the Russians since the first edition of the buyer seller summit held last year. This year too we hope to forge business links which will convert to see a rise in the business transacted between participating members of the two countries."

The 15 members of the Indian contingent will be represented by Gitanjali Gems Limited, Goldiam International Limited, Asian Star Jewels, K. P. Sanghvi International, Goldstar Jewellery, Core Jewellery, H.K. Designs, Inter Gold, KBS Designs, Shrenuj, Uni-Design Jewellery , Patdiam Jewellery, Intergold jewellery, Indi gold jewellery.