2 weeks ago
Ceylon Sapphires Open Avenues to Strengthen India–Sri Lanka Partnership
Sri Lanka and India are neighbors who have traded and shared ties for a very long time.
Recently, officials from both countries met at a business event in Mumbai to talk about working together more.
The main topic was Ceylon sapphires, beautiful gemstones that Sri Lanka is famous for all over the world.
Sri Lanka wants to sell more cut and polished gemstones instead of rough stones, which can earn more money.
The country had a good year, with its economy growing by more than six percent and exports reaching about 17.3 billion dollars.
Sri Lanka also wants to become known as the 'sapphire capital of the world.'
It plans to make sure gemstones are mined in a fair and careful way that follows the rules.
A new building called the Gem Tower is planned to help with buying and selling gems.
India was invited to send businesses, especially smaller ones, to a big fair called Sri Lanka Expo 2027 in Colombo.
The two countries hope this partnership will bring more jobs and business for people in both places.
Sri Lankan officials promoted Ceylon sapphires and the gemstone sector as key avenues for deepening India–Sri Lanka trade ties at a promotional event in Mumbai.
The Sri Lanka–India Trade and Investment Promotional Event was organized by All India Association of Industries (AIAI) and MVIRDC World Trade Center Mumbai, featuring investment presentations and B2B meetings.
Sri Lanka's Export Development Board reported economic growth of over 6% last year, with exports rising around 6% to reach USD 17.3 billion.
The National Gem and Jewellery Authority aims to make Sri Lanka the 'sapphire capital of the world' by promoting ethical mining, certification, and exports of cut and polished gemstones.
Indian businesses, especially MSMEs, were invited to participate strongly in Sri Lanka Expo 2027 in Colombo.
- Who
- Senior Sri Lankan and Indian trade officials, including representatives of the Consulate General of Sri Lanka, Sri Lanka Export Development Board, National Gem and Jewellery Authority of Sri Lanka, AIAI and World Trade Center Mumbai.
- What
- A Sri Lanka–India Trade and Investment Promotional Event highlighting Ceylon sapphires and the gemstone sector as a foundation for stronger bilateral trade, investment and tourism ties.
- Where
- Event organized by AIAI and MVIRDC World Trade Center Mumbai; references also made to Sri Lanka Expo 2027 in Colombo.
- When
- Date not specified in the article.
- Why
- To explore value-chain partnerships, boost bilateral trade and investment, and encourage Indian participation in Sri Lanka's gemstone, manufacturing, tourism, education and healthcare sectors.
Key facts
- Event
- Sri Lanka–India Trade and Investment Promotional Event
- Organizers
- All India Association of Industries (AIAI) and MVIRDC World Trade Center Mumbai
- Sri Lanka economic growth (last year)
- Over 6%
- Sri Lanka exports
- USD 17.3 billion, up around 6%
- Gemstone vision
- Position Sri Lanka as the 'sapphire capital of the world'
- Key initiative
- Gem Tower at Demuwawatha, an international gem and jewellery trading centre
- Upcoming event
- Sri Lanka Expo 2027 in Colombo
- Other sectors highlighted
- Automotive components, minerals, beverages, logistics, rubber-based products, tourism, education, wellness and healthcare
Quotes
Ms. Shirani Ariyarathne
Consul/Minister (Commercial), Consulate General of Sri Lanka
“"Sri Lanka’s globally recognised Ceylon sapphires and gemstone sector offer significant scope for value‑chain partnerships with India’s vibrant gems and jewellery industry."”
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“"Our vision is to position Sri Lanka as the sapphire capital of the world and as a trusted global source of responsibly produced gemstones."”
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