Nepal-India joint investment in Jewellery

Kathmandu, Aug 7: The Federation of Nepal Gold Silver Gem and Jewellery Associations has forged an agreement with the Gem and Jewellery Export Promotion Council (GJEPC), India for joint venture business and technology investment to promote Nepalese jewellery industry.

The GJEPC is an initiative set up by the Indian Commerce Ministry in 1966 to promote the Indian gem and jewellery products which represents about 6,000 exporters in the sector.

The Federation is a national level private sector organization of gem and jewellery business in Nepal. 

A meeting between the delegation of Nepalese gems and jewellery businesspersons led by Federation’s president Ramesh Maharjan and Indian delegation led by GJEPC chairman Prabin Shankar Pandey has consented to help to promote Nepalese gems and jewelry product and industry.

According to a press statement issued by the Federation, both the parties had agreed for a joint venture to establish a ‘Jewellery Promotion Zone” in Nepal.

“The Zone will be used to investigate, excavation and refinement of raw precious and semi-precious stones in Nepal. It will request the concerned government agencies in making cooperation with the private sector for the export promotion of Nepalese gems and jewelleries,” read the statement.

The meeting had also agreed to organize an international level conference on the promotion of Nepalese jewellery, conduct trainings on modern jewellery designing.

“Such initiatives will help to develop jewellery industry in the country and promote Nepalese jewellery in the international market,” said the Federation.

An Indian delegation is scheduled to visit Nepal soon to implement the agreements.

The Nepalese delegation was comprised of president of Nepal Rocks and Minerals Association Bidya Sagar Tamrakar, president of Federation of Nepal Gold and Silver Dealers’ Association Kisan Sunar and representatives of other organizations and companies.

Meanwhile, the Federation is going to participate in ‘Penang Signature Gold Fair 2016’ which is scheduled to be held from August 10 to 12 in Malaysia.

“We are planning to discuss about the Malaysian investment in Nepalese gems and jewellery sector. As we are planning to organize an international level ‘match maker conference’ in the country the discussion with the Malaysian business community will be fruitful for us,” said Maharjan.