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Distinguished delegates, industry leaders, guests
Ladies and Gentlemen,
Good Morning everyone,
I am indeed delighted to welcome you all in today’s event which is being organized to explore new avenues of promotion of bilateral trade in Gems & Jewellery sector between India and the Kyrgyz Republic.
2. India is globally recognized as the “Jeweller to the world”, home to a rich, millennia-old heritage of craftsmanship. India’s gold and diamond trade contributes about 7% to the country’s GDP with Gems & Jewellery sector employing nearly five million people. In recent decades, India has emerged as a major exporter, which has contributed to the Indian economy expanding to new heights. Recognizing its immense potential for growth and value addition the Government of India has identified this sector as a focus area for export promotion.
3. On the other hand, the Kyrgyz Republic possesses a strategic geographic position a the heart of Eurasia, having rich natural resources and a growing market eager for diversified expansion. Kyrgyzstan has more than 400 explored deposits of precious and semi-precious stones including amethyst, garnet, nephrite jade, and rubies. The Republic’s rich geological landscape also yields diamonds, sapphires, topaz, turquoise, malachite, jasper, and rock crystal. While large-scale commercial jewellery production relies heavily on imports, artisanal and raw stone mining fuels a thriving local market. As the Kyrgyz Republic modernizes its domestic economy and continues its integration within the Eurasian Economic Union, there is a golden opportunity to build a bridge between Kyrgyz raw materials and Indian design and manufacturing expertise.
4. Our bilateral trade with Kyrgyzstan in 2025 was US$86.28 million which includes import of natural or cultured pearls, precious or semi-precious stones from India to Kyrgyz Republic worth USD 1.5 million whereas Kyrgyz export to India was USD 6.5 million. The past year has been a challenging one for the global gems & jewellery industry, and tensions in West Asia region are a further blow to businesses. But the sector has proven to be resilient, and we hope that these challenges will overcome and export targets fixed by the government for this sector will be achieved.
5. There are several measures that Indian government has undertaken to boost investments as well as to upgrade technologies. The country is now aspiring to create a “Brand India” in the international market due to its robust growth potential. The Indian government has also permitted 100% Foreign Direct Investment in the sector under the automatic route allowing foreign investors and Indian companies to invest without prior approvals. India’s Gems and Jewellery exports are expected to reach US$ 100 billion by 2027. Total exports in the last financial year reached US$ 27.72 (around 28 Billion) showing stability despite global volatility. India’s strategic position in global trade – accounting for 29% of the global jewellery consumption makes it an attractive destination for investment. The government in partnership with industry bodies like Gem & Jewellery Export Promotion Council and Gem & Jewellery Skill Council of India emphasizes skilling initiatives to maintain a competitive edge in craftsmanship and design.
6. We are delighted to be organizing this event in collaboration with the Gem & Jewellery Export Promotion Council of India, which is an apex trade promotion body supported by the Ministry of Commerce & Industry of India. A presentation on the Gem & Jewellery industry of India will be made shortly by the GJEPC showcasing the variety of designs, the size of jewellery industry as well as the robust potential to achieve the ever increasing demand at home as well as to export to other countries. There will also be B2B session and networking segment for companies from both sides. I am happy to note that we have representatives from the jewellery industry including leading retailers from the Kyrgyz Republic. This symposium marks the beginning of a vibrant chapter in our economic ties. I encourage all delegates, business leaders and investors present here today to engage in active discussions, explore the possibilities of entering into partnerships, and transform these ideas into tangible trade.
6. Before concluding, I would like to thank our partners, Gem & Jewellery Export Promotion Council, for their support in organizing this event. I also express my sincere gratitude to the Ministry of Economy & Commerce of the Kyrgyz Republic and all other organizations of the Kyrgyz Republic, which are involved and extended their invaluable support for conducting today’s event.
Thank You, and I wish you all a highly productive symposium
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