About 20 wholesalers and jewellery manufacturers from Russia are expected to visit the diamond merchants in Surat in April, according to a newspaper report.
The visit is anticipated to help Russia develop new sourcing relationships with leading diamond companies in Surat. The meetings will take place at the three-day Indo-Russia buyers and sellers meet, organized by the Gems and Jewellery Export Promotion Council (GJEPC) in the month of April.
The who’s who of the Russian diamond industry will meet 15 selected diamond manufacturers in Surat, whereby they will attempt to understand lndian diamond manufacturing, business practices as well as supply chain. The meetings will also help in identifying possible sourcing opportunities and developing them, whereby diamond exports substantially increase direct diamond exports, reports The Times of India.
Sanjay Kothari, vice-chairman, GJEPC, stated: "The Indo-Russian BSM is part of our endeavor to promote Indian exports to emerging markets. Russian companies will have an opportunity to establish new sourcing relationship and understand the strength and capabilities of Surat in manufacturing world-class diamonds."
Chandrakant Sanghavi, Chairman, Sanghavi Export, stated: "It is vital for Indian diamond industry to develop new markets so as to ensure that it is less dependent on the US. I am all for any new markets - in Russia as well as Turkey and China."