Surat gems to glitter in Pakistan.

SURAT: The recent visit of a high-level delegation from the Indian gems and jewellery industry to Pakistan has brightened the prospects of Surat's diamantaires exporting to the neighbouring country.

The delegation was assured that visa procedures for Indian businessmen in Pakistan will be eased soon, paving way for direct exports.

Diamantaires are hopeful that they will be able to start the exports within few months.

Chandrakant Sanghavi, regional chairman of Gems and Jewellery Export Promotion Council (GJEPC) told TOI, "Prime Minister Yousaf Raza Gillani was very positive on the bilateral trade between India and Pakistan in the field of diamonds, colour gemstones and diamond jewellery. Pakistan government's ministry of production has assured to simplify the visa norms for the Indian businessmen coming to Pakistan. This will open up trade between both the countries in diamonds and jewellery."

Industry sources said the direct export of cut and polished diamonds, gold and diamond studded jewelery to Pakistan is almost nil. However, the gems cut and polished in Surat reach Pakistan via Dubai and Hong Kong.

The GJEPC-led delegation of 13 members participated in the four-day Pakistan International Gems and Jewellery Exhibition show that concluded on Monday.

The delegation members were given a special opportunity to discuss about bilateral trade in the export of polished diamonds, gold jewellery, diamond studded jewellery, import of coloured gem stones and the import of rough diamonds with about 300 representatives of Pakistan's gems and jewellery industry.

Sanjay Kothari, vice-chairman, GJEPC said, "There is a huge trade potential with Pakistan in the field of polished diamond, gems stones and diamond jewellery. All this can be achieved if the visa laws are made a bit easier. We have been looking for an opportunity to establish direct trade links with our counterparts in Pakistan."

Sanghavi said that if the direct export of polished diamond starts from India then the Pakistani buyers will get polished diamonds cheaper by 5-10 per cent from Dubai.

Aagam Sanghavi, director of Sanghavi Exports and chairman of Indian Diamond Institute (IDI) said "Pakistan has zero per cent duty on import and export of polished diamond, colour gems stones. But, the country attracts import duty of 27 per cent in jewellery. However, we have urged the Pakistani government to lower the duty structure in order to attract business from India. We have also proposed to provide training to the Pakistani skilled workers in the field of diamond jewellery making and gemology."

The Indian gems and jewellery industry market is estimated to be worth $30 billion and Pakistan market is estimated to be around $10 billion. Moreover, the taste of Indian and Pakistani consumers in gems and jewellery is quite similar. Also, Pakistan has a reserve of natural resources like coloured gems stones, which could be further explored to satisfy the needs of the manufacturers in Jaipur.

Source : timesofindia.indiatimes.com