Major gem and jewellery exhibition planned in Sri Lanka’s Ratnapura
Daily Mirror: Sri Lanka’s gem and jewellery industry has suffered a significant downturn over the past two years, Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe has said.
He made these remarks at a joint media briefing held at the National Gem and Jewellery Authority to announce the Gem City International Gem and Jewellery Exhibition 2025, scheduled to take place in Ratnapura from August 15 to 17.
The exhibition is being organised through a collaborative effort involving the National Gem and Jewellery Authority, the Industry and Entrepreneurship Development Ministry, the Sri Lanka Gem Traders and Miners Association, the Sri Lanka Gem and Jewellery Association, and other stakeholders. It aims to boost the industry towards achieving its $1 billion export revenue target while strengthening Ratnapura’s global reputation as a leading hub for gems.
Featuring over 100 stalls, the event will showcase gem trading, jewellery design, and innovation. It will also create opportunities for small and medium-scale manufacturers and traders to connect with international buyers. Representatives from China, India, Vietnam, Germany, Thailand, and other countries are expected to attend.
Highlighting the industry’s untapped potential, Minister Abeysinghe said: “Sri Lanka has a unique gem and jewellery industry with a medium-term revenue capacity of $1 billion. However, we have not been able to fully realise this potential for decades. The government is now implementing the necessary legal, trade, and administrative reforms to ensure the industry’s growth.”
OSL take:
Local authorities and industry stakeholders are working to ensure Sri Lanka’s gems and jewelry hold the top slot in the foreign markets that was once held by the industry through Gems of Ceylon. Synonymous with high quality and standards, Sri Lankan gems and jewelry are continuing to witness an increase in interest among foreign businesses/investors in many foreign markets. The strong trade ties enjoyed by Sri Lanka with many foreign markets have also helped boost the country’s gem and jewelry industry as well as related sectors. Apart from gem and jewellery exports, the industry, which has a rich cultural heritage in Sri Lanka, also serves as a key tourist attraction. Realizing the untapped potential in the industry as well as related sectors, Sri Lankan authorities and industry stakeholders have initiated many programmes to promote Sri Lankan gems and jewellery in foreign markets. The Sri Lankan government has also proposed incentives to encourage more investments into the gem and jewelry industry while encouraging businesses to also engage in related sectors. All these factors indicate increasing business/investment opportunities for foreign businesses/investors to explore while also looking at lucrative ventures through local collaborations. The exhibition like the one to be held this week would present the business potential in Sri Lanka’s gem and jewelry industry and related sectors.
| Article Code : | VBS/AT/20250815/Z_6 |