Gem Sri Lanka 2025 in January to lure global buyers
Daily FT: South Asia’s premier precious stone showcase, Gem Sri Lanka, is set to make a dazzling return from 7 to 10 January next year at the Cinnamon Bentota Beach, with a goal of taking the country global.
Organised by the Chinafort Gem and Jewellery Traders Association (CGJTA), Gem Sri Lanka has become a significant platform to connect international buyers with Sri Lankan traders. Gem Sri Lanka 2025 is the second edition of the exhibition, with a diverse line-up of buyers from the USA, Europe, Russia, China, and across Asia.
Gem Sri Lanka Chairman Hilmy Cassim said that unlike typical gem exhibitions, Gem Sri Lanka was a platform for Sri Lanka to demonstrate its mastery, production, and craftsmanship of fine gemstones to the global gem industry. This was to reinforce Sri Lanka’s position in the global gem market, building it as a centre and hub for gem cutting and production, while elevating the exhibition to be above other fairs, he explained.
“Our first event this year was a resounding success and for the next year, we have seen remarkable growth. The number of booths has doubled with an impressive influx of new buyers showing interest. This reflects the rising global recognition of Gem Sri Lanka as an internationally acclaimed fair, particularly with Beruwala serving as a cutting centre for all kinds of coloured stones that come from every corner of Sri Lanka and across the globe.”
As the exhibition continues to attract a global audience, it also serves as a vital avenue to promote the tourism industry in Sri Lanka, inviting visitors to experience the island’s rich culture and natural beauty alongside its renowned gemstone heritage.
A key moment at the launch event was the introduction of the GSLFAIR application, a groundbreaking, first-of-its-kind app in South Asia, created by the CGJTA’s IT segment. This tool aims to streamline the trade process and connect buyers and sellers efficiently, reflecting the CGJTA’s commitment to pioneering advancements in the gem industry.
Speaking at the launch event, Western Province Governor Hanif Yusoof said that with current political and economic shifts, new opportunities were emerging for the gem industry to expand and position itself at the centre of the global market.
Guild Institute of Gemology President Andy Lucas expressed similar views, explaining that the gem industry had potential to expand with the right practices and innovation. “While our industry is small in terms of luxury products and in terms of the diamond industry, the kind of strength that we can create through cooperation, social media, and innovation can grow this industry in a huge way.”
Lucas explained that China was an interesting market to consider in growing Sri Lanka’s gem and jewellery sectors globally. He highlighted the power of the large market of China and the influence it could have on the value of a stone, using examples like aquamarine and spinel that have fast become huge sellers in China.
OSL take:
Sri Lanka’s gem and jewelry industry is a growing business that is yet to be harnessed to its full potential. Realizing the increasing business potential in the gem and jewelry industry, local authorities have targeted an increased revenue from the industry to state coffers. The local gem and jewelry industry is also working towards regaining the past glory held by the industry by providing valuable and high-quality Gems of Ceylon that had even made their way to many European Royal households. The many trade agreements and concessions enjoyed by Sri Lanka with many foreign countries have also helped boost Sri Lanka’s gem and jewelry industry. The holding of Gem Sri Lanka 2025 in such a backdrop would help further boost the local gem and jewelry industry, which has already managed to capture the attention of many foreign travelers to the country. The growing business potential in Sri Lanka’s gem and jewelry industry provides a lucrative business opportunity for foreign businesses/investors exploring opportunities in the country. Foreign businesses could also directly engage in Sri Lanka’s gem and jewelry industry through collaborations with local businesses engaged in the industry.
Article Code : | VBS/AT/20241019/Z_3 |