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Global Colored Gemstone Industry Trends Highlighted in ICA Congress 2017

2017-10-30 Source:GuangDong Gems & Jade Exchange

On 21 -24 October2017,International colored gemstone association (ICA) Congress 2017 with the theme of “Celebrations of Colours” held successfully in the India Jaipur. ICA,  founded in 1984, a non-profit organization, which is the worldwide body specifically created to benefit the global colored gemstone industry. ICA organizes congress biennially, which is an important platform for leaders and experts in the gems and jewelry field and research institutions, practitioners and political and business leaders to deliver a dialogue on the status of the industry, innovation and development together, known as the "Global Colored Gemstone Industry Benchmark” .

Jaipur hosted the India’s first ever ICA congress in 2003. 17th ICA congress is the second time held in Jaipur. Both scale and influence of the Congress achieved higher level than before. India Jaipur is an important connection hub of the world's second largest colored gemstone with a experienced industry, completed process and trade chain, and gather 90% market share of India colored gemstone industry. The congress attracted more than 200 participates from over 25 countries to attend. The leaders and experts in the gem and jewelry field all shared the hottest topic and latest development concept, put forward international market direction of colored gemstone. The congress received great enthusiasm and response.
Zhiwei Li, President of Guangdong Gems & Jade Exchange, delivered a speech
Guangdong Gems & Jade Exchange (hereinafter referred to as the "GDGJE”) delivered a speech at the congress as the sole representative of Mainland China gems and jewelry industry. Zhiwei Li , President of GDGJE, introduced a new trend for China colored gemstone development and analyzed new international trade of China colored gemstone, which was enormously recognized by the participants and aroused their strong interest in China gemstone market.
SEAN GILBERTSON,CEO of Gemfield, delivered a speech
SEAN GILBERTSON , CEO of Gemfield shared the mode of the global mining industry supply chain and raised a idea of connecting industry development and financial institutions. He also introduced the case about integration and circulation supply chain from mining to rough stone. As we all known, while the gemstone features the multiple category and great dispersion of gemstone, it is not easy to achieve the scale like diamond industry supply chain at present. However, Gemfield Innovates the new mode for integrating supply chain in gem and jewelry field which will bring industry a image space and worth to concerning.
As the powerful country in the global colored gemstone industry, representatives of Thailand, Sri Lanka, India and other countries all shared advantages of their gemstone industry which fully expressed  positive attitude from the state to support industrial development.
PRIDA TIASUWAN, Chairman of Pranda Jewelry Public Company Limted, delivered a speech

In order to support the development of gems and jewelry manufacturing and trade, and gather the raw material resources, Thailand provide a preferential tax policy especially for the jewelry, which has achieved remarkable results.  Currently, Imported tariff of rough colored gemstones is free in Thailand. And the tax policy for free consumption tax of gems and only 7% value-added tax for colored gemstone came true which enable Thailand become one of global highest concentration country of colored gemstones.

In addition, Gem Jewellery Export Promotion Council (GJEPC),  as the host of ICA congress 2017, extremely promoted India Jaipur colored gemstone industry as the representative. And GJEPC announced  that India Rough Gemstones Show from January 8-10, 2018 in Jaipur which aims to greatly attract the global gem resources into Jaipur.

Lost of brilliant gains at the Congress reflecting some important developments direction of Global Colored Gemstone industry:
1.The magnates of International supply chain are actively taking advantage to restructure industrial ecology. China industry is facing enormous challenge and competition. If China industry doesn’t develop quickly, our supply chain would be taken by international magnates, which will lost our international discourse in the gems and jewelry field. China, as the world's second largest jewelry consumer country, will be unable to support the development of the upstream industry.
2.Integration of industry development and fashion has became the most important trend in international colored gemstone industry. Many famous fashion brands have been highly paying attention on resource allocation of raw materials.
3.Global jewelry e-commerce is booming. Strong Online sales is consistent with China current industry. But the difference is that the international has achieved sales of high-end products. There is still a long way to go for China jewelry e-commerce development space.
4.New gem resources emerges continually around the world. For example, Greenland has found the exploitable ruby mines.
The global distribution areas of gem are more diversified, among which is highly consistent with China Initiative "One Belt and One Road “along countries. In the future, The national development strategy of “One belt and One Road” will bring important opportunities for China gems and jewelry industry.
5.The science and technology development in the gems and jewelry industry changes rapidly. New technology and device provide support for origin traceability. For example, Gubelin’s laboratory has used mineral mining traceability system to their own research and development, thus it can achieve gem origin identification more scientific and authoritative.
Picture of GDGJE's President Mr. Zhiwei LI and New Chairman of ICA Mr. Clement Sabbagh

Mr. Clement Sabbagh from Brazil is appointed as new chairman of ICA at the Congress, who announced the next congress will be held in Thailand.

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