The Indian state of Rajasthan—with its capital, Jaipur, located in the country's northwest—has staked a claim to leadership in the colored gemstone trade. Its initiators believe that the launch of the Jaipur Gem and Jewellery Exchange (JGJB) project—backed by the state government and international industry organizations—has the potential to transform the global colored gemstone trade over time, particularly amidst rising demand for high-quality stones.
According to Kirit Bhansali, Chairman of the Gem & Jewellery Export Promotion Council (GJEPC), the exchange will reinforce India's leadership in the colored gemstone sector. " Jaipur's unmatched expertise in coloured gemstones has made it a cornerstone of the global gem and jewellery industry for centuries," he noted. "The Jaipur Gem & Jewellery Bourse will strengthen India's leadership in the global coloured gemstone trade by creating a world-class ecosystem that connects heritage, craftsmanship and international commerce."
Gaetano Cavalieri, President of the World Jewellery Confederation (CIBJO), added that the project is timely given the growing demand for quality colored gemstones. "The market is requesting increasing quantities of coloured gemstones, particularly quality gemstones, and Jaipur has always been one of the world's most important centres for the coloured gemstone trade," he said. JGJB is set to become the world’s first specialized exchange dedicated exclusively to colored gemstones and jewelry featuring colored gemstones. Spanning an area of 44,000 square meters, the facility will house over 1,750 offices, trading booths, and showrooms for manufacturers, exporters, and international buyers, alongside customs clearance services, gemstone testing laboratories, and auction venues.
The project, jointly promoted by the GJEPC and the Jaipur Jewellers Association (JAJ), is expected to create approximately 60,000 jobs and establish a modern ecosystem that links Jaipur’s centuries-old gemstone craftsmanship with international trade standards.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
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