RAPAPORT... India’s Gem & Jewellery Export Promotion Council (GJEPC) is working to strengthen trade ties with Pakistan and is participating in the ongoing ''India Show'' in the neighboring country.
The strategic decision to host India Show in Pakistan is an attempt to exchange skills, understand the intricacies of Pakistan’s local gem trade and mutually discover a great lineage of design and craftsmanship, GJEPC explained.
''Besides certain inherent strengths of both nations, India has already been announced as ‘Most Preferred Nation’ by Pakistan and we believe it is the right time to break all trade barriers and sign free a trade agreement to further expand our bilateral trade,'' said Rajiv Jain, GJEPC’s chairman.
Jain estimated that the Indian gems and jewelry market to be worth $20 billion and Pakistan’s market valued at around $10 billion.
GJEPC said that Pakistan is already sourcing Indian goods from free trade centers such as Dubai and Hong Kong and therefore the show is a good platform to closely understand each other and deal directly.
The Federation of Indian Chambers of Commerce & Industry (FICCI) has organized the India Show at Lahore in Pakistan from February 11 to 13, with the support of GJEPC. The show includes participation of India’s 18 leading gems and jewelry exporters.