Mumbai: The Gem and Jewellery Export Promotion Council (GJEPC) on Tuesday said it is organising the second edition of the Indo-Russian Jewellery Summit, in collaboration with the Moscow Diamond Bourse.
The two-day summit, which will begin from October 29, will be represented by 12 key leading players comprising wholesalers and retailers from Russia who collectively have over 5000 outlets across Russia and the CIS countries, GJEPC said in a release issued here.
"The GJEPC has held successful meets with regions like China, Europe, US, Russia or CIS to bring together leading players of these regions with their Indian counterparts, to create wider business opportunities," GJEPC Chairman Vipul Shah said.
The successful Indo-Russian Jewellery Summit held last year had a favourable impact on India's trade relations with Russia and this summit will help representatives of Indian and Russian companies in understanding each other's markets, leading to large volumes of business being transacted between the two countries, he added.
The summit will create a platform for cooperation between Indian jewellery manufacturers and their Russian counterparts.
India's gem and jewellery industry has been witnessing an annual growth of 10-15 percent.
Exports to Russia for 2011 increased from USD 3.13 million in 2009 to USD 8.2 million in 2011, an increase of 162 percent while imports from Russia stood at USD 639.48 million, up a whopping 408.65 percent from USD 125.72 million in 2009.