43 foreign buyers attend 3rd edition of B2B meet in Surat

A total of 15 exhibitors from Surat, including lab grown diamond (LGD) growers, suppliers of loose and cut and polished LGDs, and jewellery manufacturers, participated in the event.

As per the GJEPC data, the total exports of LGDs from India have witnessed a rise of 400 per per cent since 2019 — from USD 430 million in 2019-20 to USD 1,402 million  in 2023-24.

The US (USD 855 million), Hong Kong (USD 195 million), and the UAE ( USD 190 million) have been among the major exporters.

“We are importing hundreds of carats of cut and polished LGDs from India. We were importing cut and polished natural diamonds from Antwerp. Now after coming to India, I have decided to start importing cut and polished natural diamonds from Surat and Mumbai,” said Gary Carriere, President, Carriere international. The  US-based firm is a wholesale diamond manufacturer. Carriere, who has been into the diamond business since 1981, praised “the state-of-art” facilities in Surat, “impressive production” and “high-quality” production models.

“The LGD is more affordable to consumers as a result of which its market is growing exponentially,” he further asserted even as he said that natural diamonds will always have takers.

Judy Fisher of US-based Reeds Jeweler that runs 65 stores in the country and Shaheer Hosh from Florida-based Cristino Jewellers were among other foreign buyers at the exhibition. Both of them were satisfied with their business interactions at the B2B event. “This is the third edition of the exhibition in Surat by the GJEPC. There were amazing responses, and all exhibitors are hoping for good business. We arranged visits for the buyers to explore the entire diamond bourse to give a boost to the SDB.  The exhibitors have this time demonstrated mastery in terms of colours, cutting and pointer size The reviews of exhibitors and buyers were positive,” said GJEPC Gujarat region Chairman Vijay Mangukiya.

Smit Patel of Greenlab Diamonds, one of the exhibitors, said, “We have got good response from the foreign buyers and many of them are giant players. They also paid a visit to our factories where we grow lab grown diamonds. We have got business orders from over 12 foreign buyers and are hoping the figures may go up in coming days. By organising such events, we come in contact with new customers.”