�Mines to Market 2007�: April 26, 27

The Gem & Jewellery Export Promotion Council of India has announced the next of this biennial conference event for Thursday 26th & Friday 27th April, 2007 to be held in Mumbai, India.

Over the last five years, India has emerged as one of the most dynamic centres in the gems and jewellery industry worldwide. An acknowledged leader for the cutting and polishing of diamonds, it is also one of the primary centres for the manufacture of coloured gemstones and a rapidly advancing one for all types of precious metal jewellery.

In spite of the difficult conditions witnessed by the business worldwide in the last few years, India has kept up its performance on all fronts in the gems and jewellery sector. The centre registered an overall growth of 6.57 per cent over the previous year. Total exports of gems and jewellery from India in 2005-06 stood at US$ 16.70 billion, as against US$ 15.67 billion for the previous year.

Cut and polished diamonds contributed to the major share of this amount with an increase of 6.04 per cent, to reach US$ 11.86 billion for 2005-06 from US$ 11.18 billion in 2004-05. Gold jewellery exports registered a growth of 2.11 per cent with exports touching US$ 3.86 billion in 2005-06 as compared to US$ 3.78 billion for the previous year. Colored gemstones grew by a creditable 21.16 per cent to US$ 233.53 million as compared to US$ 192.75 million for the relevant periods.

In the past few years the entire diamond pipeline is going through a process of realignment and redefinition. While on the mining front there are new suppliers, new relationships and new equations emerging; where consumer markets are concerned there is also a paradigm shift taking place with a fresh focus on the east, notably China and India.

At the same time there are several issues which constantly face the industry; some old and some new ones too. The question of rough supply, diamond prices, and profit margins have been topics of discussion within the diamond industry. Today there is sharp emphasis on jewellery retail and issues of consumer confidence. With the break down of the rigid compartmentalization of segments, centres and businesses, and as the world shrinks more and more, it has become imperative for all stakeholders of the industry to come together for an interchange between all concerned.

The conference will therefore serve as an important international forum for all segments of the diamond business -- from mines to markets � to interact, discuss and exchange views on key issues and concerns.

As India moves from merely being a pre-eminent diamond-manufacturing centre to being the global hub of gems and jewellery industry, it is only fitting that it takes a lead to foster such an exchange.