Page 38 - March / April 2023 : Diamond Digest Issue

First-Ever Lab-grown Diamond BSM Kicks Off in Surat, India
The Gem & Jewellery Export Promotion Council (GJEPC) commences the first-ever Lab-grown Diamond Buyer Seller Meet (BSM) in Surat. The event was inaugurated by Shri Virendra Singh, ITS, Development Commissioner & Additional DGFT; Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri. Vijay Mangukiya, Regional Chairman, Gujarat; Shri Smit Patel, Convener, Lab- grown diamonds committee, GJEPC; Shri Sabyasachi Ray, ED, GJEPC along with others.
The event is being held from 5th to 7th April 2023, featuring 22 exhibitors presenting their LGD diamonds to 50 buyers from 13 different countries. It is a platform for buyers and sellers to interact directly, negotiate deals, and develop long-lasting
business relationships.
Shri Virendra Singh, ITS, Development Commissioner & Additional DGFT said, “Over the past 8 years, India has advanced from the 11th to the 5th largest economy in the world, surpassing Britain. This remarkable growth has been aided by the significant contribution of the Gem & jewellery industry to the economy, which is expected to continue playing a crucial role in the future, particularly with the development in the LGD sector.”
Shri Vipul Shah, Chairman, GJEPC said, “Over the past 5 years, the LGD sector in India has grown significantly, with exports growing from USD 131 million in 2016- 17 to USD 1.5 billion in April 2022 to February 2023. I express my gratitude to the
38 • Diamond Digest • March - April. • 2023