Gem exports to rake in Rs. 1 Bn

Sri Lanka aims to generate Rs. 1 billion in revenue from Gem exports this year, but this figure could increase to Rs. 5 billion, stated Gemologist S.D. Buthpitiya, during the Gem Market event held yesterday (5) at the Colombo World Trade Center.

Addressing the gathering, Buthpitiya noted that the Gem Market was established as the ideal platform for all stakeholders in the Gem industry, from small-scale buyers and sellers to large-scale traders, to conduct business efficiently and securely. The event ran from 10 am to 2 pm, providing opportunities for the sale and purchase of all types of Gemstones.

“The Market accommodates transactions ranging from Rs. 5,000 to millions, ensuring a secure environment for all parties,” he added. Even beginners interested in entering the Gem trade found this to be an excellent starting point. Small-scale miners and vendors benefited significantly from the event, as it allowed them to bypass intermediaries and engage directly with buyers. The Gem Market, organised to facilitate direct transactions, rather than an exhibition, also offered other services, such as Gem identification, cutting, financial assistance for purchases, buyer-seller matching services, and access to secure trading zones monitored by Police and supported by on-site Banking facilities.

The Organising Committee highlighted that the Gem Market is the most suitable venue for purchasing and selling Gemstones, ensuring convenience, safety and professional services tailored to the needs of Gem industry participants.

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