The gem and jewellery industry has not shown rapid growth in the past year due to the global economic downturn. However some of the major gem and jewellery economies are recovering gradually. There has also been an increase in the demand for gem and jewellery exports this year compared to last year. Rohan Pitagala, the Export Manager for the National Gem and jewellery Authority Sri Lanka told the Daily News Business that there is great demand for gemstones greater than 5 carats. This is because gemstones of this size have investment value.
There is also big demand for calibrated gemstones. Calibrated gemstones especially for making designer jewelry.
To further stimulate the industry the National Gem and Jewellery Authority (NGJA) is providing incentives to traders and miners.
Some auctions for gem mining lands are to take place at Kantale, Thalduwa, Bogawanthalawa, Bopaththalawa and Eheliyagoda by the end of this month.
The land auctions will be carried out with the participation of the private sector. The income from the auctions will be shared with land owners.
The leading importers of gem and jewellery from Sri Lanka are U.S.A, France, Thailand, Germany and Japan. Pitigala said ” Authority has taken steps to explore new markets to promote local gem and jewellery exports”.
Turkey, a new market has been targeted by the NGJA. The NGJA is expected to hold an exhibition in Turkey next year.