"The plain gold jewellery VBSM is an important step taken by the GJEPC in the times of pandemic, and the event is a key mode of promotion for India to globally connect with buyers," Commerce and Industry Joint Secretary Suresh Kumar said after inaugurating the virtual event.
He added that we have to get used to a new normal by converting the coronavirus-related problems into new opportunities. "Many such events should be held in the future to reclaim the export business to the pre-COVID-19 level through such new platforms."
He said the government is identifying and introducing various reforms to minimise the effects of the pandemic.
"We have to increasingly use e-commerce in the wake of new health protocols in order to grow.
"We are working on policy-related issues and are seriously discussing matters to facilitate trade through e-commerce. Let me congratulate GJEPC Chairman and other members, including buyers and exhibitors, who have joined this platform to make it a grand success," he added.
The industry has been quick to adapt to the new normal and leverage the digital platform to organise virtual BSMs, thus fulfilling the sourcing need of its international buyers during this pandemic, GJEPC Chairman Colin Shah said.
"The good news is that markets in the US, China and Europe, Middle East and Eastern Asian nations are reopening, and we are witnessing demand for gems and jewellery from these regions," he added.
Shah added that the introduction of a progressive e-commerce policy for the gems and jewellery sector is the need of the hour. "This will make the industry more competitive in the international market and will help in faster recovery."
GJEPC Vice-Chairman Vipul Shah stated that the Indian gems and jewellery industry is on the path of recovery and the manufacturing units have started functioning, although in limited capacity by adhering to all safety measures.
"We are witnessing demand from international markets and we are expecting demand will further grow in the coming months, owing to the upcoming holiday season in the western countries.
"It''s a perfect time for buyers and sellers to take maximum benefit of this VBSM platform and help the industry recover to its pre-COVID-19 level soon," he added. PTI SM HRS