The Gem and Jewellery Export Promotion Council (GJEPC) will have the largest contingent of participants amongst all country pavilions at the seven-day 'Hong Kong Jewellery and Gem Fair' starting from September 19.

Official sources said GJEPC has taken India's participation at the HK jewellery and gem fair a step forward by increasing the number of participants. About 80 participants from jewellery and polished diamond segments from Surat, Mumbai, Jaipur, New Delhi, Bengaluru etc. are taking part in the fair to showcase the talent to the visiting buyers from across the world.

"While the United States (US) still remains a large diamond jewellery consuming centre, there can be no doubt that India, China and Hong Kong (HK) are the markets of future for diamond industry on all fronts," GJEPC chairman Rajiv Jain said.

According to Jain, HK is a significant partner for India as far as export of gems and jewellery is concerned. The international gem and jewellery fair in HK is seen as a major event by diamantaires back in India and around the globe as it is going to show the trend of the global diamond industry ahead of the Christmas sale season starting from September end.

The HK jewellery fair to be held from September 19 to September 25 is Asia's biggest gems and jewellery event. Over 3,300 exhibitors from 46 countries and over 50,000 buyers from more than 135 countries are expected to take part in the event. The fair's September schedule makes it ideal for jewellers replenishing stocks for peak shopping seasons such as Christmas, New Year and Valentine's Day.

Activity in the diamond market had slowed down in August due to the slump in consumer and investor confidence following S&P downgrade of US. While bourses in Belgium and Israel were closed for the summer months, diamantaires in India held back amid tight liquidity and global economic uncertainties.

GJEPC vice-chairman Sanjay Kothari said, "The volume of exports during January-June, 2011, was $25 billion compared to $18 billion for the same period in the previous year registering 34.17 per cent increase. However, the Indian gems and jewellery industry is a power to reckon with across the globe and our endeavour is to provide Indian manufacturers with opportunities to showcase their product at international platforms around the year."