Las Vegas, Nevada, June 2 (Agency)
Sixty five leading Indian jewellery exporters are showcasing works incorporating a seamless blend of the best international quality and workmanship with Indian design making at the jewellery's industry's premier event here.
The Gems and Jewellery Export Promotion Council of India (GJEPC), India's apex body for the promotion of gems and jewellery, is also displaying a 'Brand India' product gallery, a presentation of the best jewellery from India at the 'India Pavilion' at the JCK 2012.
Jewellery, both gold and diamond, forms an intrinsic part of India's culture and heritage, said the Indian ambassador to the US, Nirupama Rao at the show's inauguration ceremony Friday. "History is adorned with references to the great diamonds of India," she said.
Rao said India has emerged as the world's largest manufacturing centre of cut and polished diamonds contributing about 85 percent of the world's supply in volume of such diamonds.
Eleven out of every 12 diamonds set in jewellery world-wide are processed in India, which is also the third largest consumer of polished diamonds.
The Indian gems and jewellery sector that currently pegs at around $36 billion, is poised to record a compound annual growth of approximately 13 percent.
Intra-industry trade in diamonds is an important contributor to India-US commercial engagement today, Rao said noting Indian exports of diamond and diamond jewellery to the US touched $ 8 billion in 2011, whereas the US exported $4.6 billion worth of diamonds to India during the same period.
Rao was confident that JCK Las Vegas 2012 will "open a new growth path for stronger commercial links between Indian suppliers of diamond and gold Jewellery, and US and other international buyers."