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RAPAPORT... With India's gems and jewelry industry currently facing a slow period and summer vacations, all eyes are on the upcoming JCK Las Vegas show, which takes places between May 29 and June 1, 2015. Again this year, the show will feature an active India Pavilion, organized by the Gem & Jewellery Export Promotion Council (GJEPC). Speaking exclusively with Rapaport News, Pankaj Parekh, GJEPC’s vice chairman, said, “After a long period of recession, the cycle is definitely turning and attending Vegas is very important.” Vipul Shah, the chairman of GJEPC reiterated the importance of JCK Vegas, stating that the show would indicate U.S. demand for the coming months. For this year's show, the theme of the India Pavilion is the “Make in India” campaign. The pavilion anticipates hosting 67 top gem and jewelry exporters in 107 booths which include dealers offering loose stones, plain and studded diamond jewelry and colored gemstone jewelry, as well. As determined by the GJEPC, India accounts for 22 percent of U.S. gem and jewelry imports, which were valued at almost $7.5 billion in 2014. Polished diamond exports to the U.S. were approximately $5.3 billion, while gold jewelry exports were valued at $1.4 billion and colored gemstone exports were about $780 million.
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