High Commission of India

Kuala Lumpur

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Global India Connect – Malaysia

Business Networking Meet on Gems and Jewellery products

 Press Release

High Commission of India in Kuala Lumpur, in collaboration with the Gems & Jewellery Export Promotion Council (GJEPC), organized Global India Connect – Malaysia on 14 February 2022 over a virtual platform. The event was aimed at re-connecting Indian exporters with Malaysian importers in the gems and jewellery sector. The Event was well represented from the two sides with wide participation from both the industry and the Government. Fifty five gems and jewellery traders/producers took part in the event.

2. High Commissioner, H.E. Mr. B.N. Reddy, addressed the Meet and highlighted the robust and growing India-Malaysia bilateral trade and the significance of gems and jewellery as one of the important contributing sectors. High Commissioner highlighted that the year 2022 marks the 65^thyear of bilateral relations between India and Malaysia and the importance of Malaysia as the key interlocutor in India’s trade engagement with ASEAN. High Commissioner further added that though trade in gems and jewellery sector between the two countries has been robust, there is still much potential for growth and set a target of US$ 150 million by 2023 from the current US$100mn.

3. Mr. Vipul Bansal, Joint Secretary, Department of Commerce, addressed the Meet and highlighted the opportunities available in the industry, especially in the context of the numerous initiatives taken by the Government of India, to modernize the industry and make it more technologically competitive. Mr. Sabyasachi Ray, Executive Director, GJEPC, briefed the Meet with an outline of India’s gems and jewellery industry. He welcomed the Malaysian traders to take part in the India International Jewellery Show to be held from 18-22 February 2022 in Mumbai and the International Gems and Jewellery Show to be held in Jaipur, India in May 2022. High Commissioner encouraged the Malaysian traders to visit India to explore business opportunities and that Government of India has done away with quarantine requirement for Malaysian nationals on arrival into India.

4. A panel discussion followed with Malaysian and Indian traders sharing their insightful comments and suggestions to address the challenges being faced by the sector and the opportunities that lay ahead. Leading producers/exporters from India participated in the discussions. Malaysian Indian Gold Smith & Jewellers Association, Federation of Gold Smith & Jewellers Association of Malaysia, Penang Goldsmith and Jewellery Association and other traders from Malaysia made valuable contributions discussions. It was agreed that this Meet should continue with a regular frequency so that the traders from both the sides can update themselves with the latest industry situation and government policies. GJPEC assured that an outcome document will be prepared for close-follow up.

15 February 2022

Kuala Lumpur