THE Gem & Jewellery Export Promotion Council (GJEPC) recently organized a delegation to Italy from 5th to 11th November 06. Mr. Pankaj Parekh, Chairman Eastern Region GJEPC, lead this seven member delegation. The purpose of this delegation was to showcase ‘India as a Lucrative Investment destination’ and as a gateway of opportunities for the Gem & Jewellery Sector. %% The delegation highlighted the favourable policy and initiatives undertaken by the Government of India and the Council to position India as a strategic locale for alliances, partnerships and joint ventures in the Gem & Jewellery Sector

Commenting on the delegations visit, Mr. Pankaj Parekh, Chairman Eastern Region GJEPC, said that “India in recent years has emerged cost effective base, attractive enough for international corporations to relocate in the country. With excellent managerial capabilities and craftsmanship skills India and Italy can join hands to explore possibilities of tapping vast Indian market. By creating India as a base Italy can also tap other Asian markets.” %% The delegation will meet different Jewellery clusters and trade associations from Florence, Arezzo and Valenza. %% According to Mr. Arvind Pradhan, Executive Director, GJEPC “The A.T. Kearney in the ‘FDI Confidence Index 2005’ has ranked India as 2nd most attractive investment option, Indian economy is well suited for investments. According to a survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) a few months ago, 70% of foreign investors were making profits and another 12% were breaking even, substantiating the fact that FDI policies in India are among the most liberal and attractive in emerging economies”. %% Keeping up with the overall development of the country is the Gem & Jewellery industry that has grown at a remarkable rate of 15-20% annually. The Gem & Jewellery Industry in India is one of the leading foreign exchange earning sectors. The Gem & Jewellery Exports at US$ 17 bn in the year 2005, accounted for nearly 1/5th of India’s total exports. %% With India and Italy celebrating the year 2007 as Indo-Italian friendship year, one can expect positive developments between the two nations in years to come.