Given that India`s export of diamond and diamond jewellery to the US touched USD 8 billion in 2011, the government has termed the country`s participation in JCK Las Vegas 2012, which kicked off Friday, as an `India Show`. The US export to India during the same period was USD 4.6 billion.
The presence of the popular Bollywood star and international brand ambassador of the Gem and Jewellery Export Promotion Council, Sonam Kapoor added glamour to the event in Las Vegas, which was inaugurated by Nirupama Rao, the Indian Ambassador to the US.
As many as 65 leading Indian exporters are participating in the JCK Las Vegas 2012 show, casing works that incorporate a seamless blend of the best international quality and workmanship with Indian talent and design in jewellery making.
The pieces are crafted by India`s finest and leading manufacturers and retailers in designer jewellery. The showcase has categories such as mass produced, couture, designer, and further that of gold and silver.
"India has emerged as the world`s largest manufacturing centre of cut and polished diamonds. We contribute about 85 per cent of the world`s supply in volume of such diamonds. Eleven out of every 12 diamonds set in jewellery world-wide are processed in India," Rao said in her inaugural address.
"We are also the third largest consumer of polished diamonds. With strong efforts of the Government of India and other stakeholders, the Indian gems and jewellery sector that currently pegs at around USD 36 billion, is poised to record a compound annual growth of approximately 13 percent," she said.
The show will open a new growth path for stronger commercial links between Indian suppliers of diamond and gold jewellery, and US and other international buyers, Rao added.
The India Pavilion covers a wide array of fine jewellery products such as watches, designer jewellery, antique and estate, bridal and high-end gift-ware. It features a variety of regionally inspired and product specific pavilions.
India Pavilion by GJEPC has been a participant at JCK Las Vegas since 2004 and Indian Contingent has grown manifolds since then. "The cultural acts by ICCR, Indian Cuisines, promotions across the Show by Ministry of Tourism and GJEPC is an effort to build an aura of India and establish Identity for the Brand India, as it is the most sought after destination today," said GJEPC Chairman Rajiv Jain.