Jeddah/Riyahd - The idea of setting up a gem-testing laboratory in Jeddah figured in the discussion at a meeting between the Jeddah Chamber of Commerce & Industry and a team of India's Gem & Jewelry Export Promotion Council yesterday.
Jamil M. Ali Farsi, dean of Jewelers of the City of Jeddah and president of the gold and jewelry committee of JCCI, discussed the proposal with the visiting team comprising Pankaj Parekh and Mahesh S. Rao, conveners for India's eastern region and gold panel committee respectively.
"It's a good proposal. We'll look into it positively once we get the proposal through official channels," Parekh said.
Saudi businessmen and members of the committee present included Muhmmad Ali Al-Harbi, manager of support and development, trade center, at JCCI. The idea, if implemented, will require specific equipments and instruments to be installed for the purpose of gem testing, and training of Saudis in handling such equipments and skills involved in the lab work, Rao added.
The visiting team told reporters that an eight-member Saudi group from Jeddah's gold and jewelry trade would visit the India International Jewelry Show (IIJS) 2005, being held in Bombay from July 14-18.
Both Parekh and Rao welcomed federal Commerce & Industry Minister Kamal Nath's statement made in Bombay on Tuesday that the government was working toward setting up an international diamond trading center in India. "The proposed center will aim to encourage investment by Indians in diamond mines abroad," the minister said addressing an international diamond conference in India's commercial capital. Local Saudi businessmen have also welcomed the minister's statement that foreign direct investment and joint ventures between Indian entrepreneurs and businesses abroad in diamond exploration, mining and sourcing, cutting and polishing and sales and marketing would be encouraged. In order to maintain continued supply of diamond roughs to Indian diamond industry, the Indian government is considering plans to enter into cooperation agreements with supplier countries.
The team held road shows on the upcoming IIJS in Riyadh, which was presided by India's Ambassador M.L.H. Farook with Mansour Al Ajaji of the Riyadh Chamber of Commerce & Industry as the guest of honor, and in Jeddah by Consul General Dr. Ausaf Sayeed with Al-Farsi as the guest of honor, which were largely attended by local businessmen.
In Riyadh, Parekh told a press conference that India, globally famous for its unique gem and jewelry industry, would be happy to train Saudi youth in the field.
"We're interested in assisting the Kingdom in its Saudization program in the wake of its recent regulation to Saudize the gem and jewelry industry. He pointed out that foreign workers were being phased out and so young Saudis could be trained in India to fit into the local sector here, he added.
Last year, India's global gem and jewelry exports were valued at $15.6 billion registering a growth of 29 percent over $12.1 billion exports during 2003-04.
The Indian ambassador said the bilateral trade is valued at $6.6 billion, which includes $4.2 billion exports from the Kingdom. India has 49 joint ventures with Saudi Arabia.
By K.S. Ramkumar & Mohammed Rasooldeen
© Arab News 2005
