The Gem and Jewellery Export Promotion Council (GJEPC) Surat office recently welcomed a high-level delegation from the Sakha Republic (Yakutia), Russian Federation. The delegation, led by H.E. Mr. Kim Borisov, was on a mission to explore avenues for bolstering bilateral trade relations.
The seven-member delegation, comprising ministers from the Government of the Sakha Republic, was briefed about the various activities of the GJEPC aimed at promoting the export of gem and jewellery products from India by the Assistant Director of GJEPC.
Shri Vijay Mangukiya, Regional Chairman for Gujarat, addressed the delegation, providing an overview of Surat's thriving diamond industry. He detailed how Surat has managed to sustain its premier position in diamond cutting and polishing, and shared updates about the city's recent strides in the gem and jewellery industry. Mangukiya highlighted that Surat is steadily moving towards becoming a global leader in diamond jewellery manufacturing and a hub for CVD-type lab-grown diamonds.
Mr. Kim offered insights about Yakutia, a region abundant in natural resources, including diamonds. Notably, 90% of Russian diamonds are mined in this area. Despite its vastness and wealth of resources, Yakutia has a modest population of 1 million, largely due to its extreme weather conditions.
Ms. Yuliana E. DIRYAKHOVA, Deputy Director General of the Agency for Attracting Investments and Export Support of the Sakha Republic, presented an enticing case for investment in Yakutia's free trade zone. She emphasized the advantages of investing there, particularly the free access to Yakutia's rough diamond resources via a new private sector company, SAYBM LLC. The delegation encouraged GJEPC members to consider a joint venture with SAYBM to tap into the rich 'Diamond Cluster' of Yakutia.
GJEPC members expressed curiosity about the free trade zone, posing several questions to the delegates. The team from Sakha also had the opportunity to tour the Surat International Dia-trade Center.
The Assistant Director of GJEPC concluded the meeting by expressing gratitude to the delegation for their visit and the enlightening discourse on potential trade opportunities.
