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INDIA PLANS TO BUILD GEMSTONE BOURSE IN JAILER

INDIA PLANS TO BUILD GEMSTONE BOURSE IN JAILER

India’s first gemstone bourse is to be built in the colored stone center of Jaipur with an initial investment of around $9 million in a bid to better organize trading of gemstones and attract business from abroad. There are around 250,000 gemstone cutting and polishing workers in Jaipur. It is expected that the government will allocate the land needed for the bourse in six months, said Gems & Jewelry Export Promotion Council(GJEPC) Executive Director Sabyasachi Roy. He said that construction will take 18-24 months. There are believed to be up to 1,000 gemstone companies in India. India rough gemstone imports are estimated at $140 million to $180 million, the report said, while exports total more than $270 million.