Vast potential exists for Indo-Pak gem, jewellery trade: GJEPC

KARACHI: Pakistan and India have great potential to increase gems and jewellery trade between the two countries as users have similarities and choices are same, said Sanjay Kothari, vice-chairman of the apex trade body, the Gems & Jewellery Export Promotion Council (GJEPC), told GEO tv from Mumbai on telephone.

He said during his recent visit to Pakistan, held series of talks with their counterparts and meetings were quite fruitful, but main hurdle between the two countries in promoting trade is the issuance of visa. He added that both countries should issue multiple visas and businessmen of both sides should be allowed to travel to number of cities on both sides of the borders.

"We are holding exhibition on yearly basis in India and since three to four years Pakistani traders, exporters and artisans are attending this fair, but a week back it was our first visit to Pakistan, which clearly shows that both countries should soften the visa regime" Kothari said.

"India lack gemstones reserves but still exporting huge amounts of jewellery and diamond world over", Sanjay Kothari said. India exported during last fiscal year around $42 billion of this exporters shipped $28 billion worth of diamond and $12 billion worth of jewellery.

Both countries have immense potential to increase jewellery trade volume, where Pakistan has immense room to boost exports of rough stones and finished ones to India, while India could ship their jewellery which appeared to be in good demand in Pakistan.