Lankan gem and jewellery to sparkle at upcoming Facets Premier edition

From left: Sri Lanka Gem and Jewellery Association President Altaf Iqbal and National Gem and Jewellery Authority Chairman Viraj De Silva shake hands to seal the sponsorship 
Pic by Pradeep Pathirana

• Event taking place after a lapse of three years
• Facets SL aims to reach US $ 1bn earnings in 2023 

Sri Lanka’s gem and jewellery sector will come under a fresh spotlight for its sparkle come 2023, with Facets Sri Lanka exhibition gearing up to open its doors after a lapse of three years. 

The annual gem and jewellery exhibition, organised by the Sri Lanka Gem and Jewellery Association, will take place in January, showcasing collections worldwide.

The event will be held from January 7 to 9, at Cinnamon Grand, Colombo. 

The 30th edition of Facets will bring on to one platform international buyers, gemstones and jewellery importers, wholesalers, manufacturers, retailers and collectors. 

The upcoming exhibition is a ‘premier’ edition where the number of booths has been limited, organisers said. 

At the official announcement event yesterday, the event organisers said the 2023 edition would see about 100 booths. 

Efforts are made to shed light on the SME sector in the upcoming edition, where 10 SME gem and jewellery entities will be featured at the National Gem and Jewellery Authority pavilion. Facets Sri Lanka has the vision to take Sri Lankan gems into newer brighter spaces, enabling foreign exchange revenue to be earned for the country, positioning itself to achieve US $ 1 billion in exports in 2023.

According to Sri Lanka Gem and Jewellery Association President Altaf Iqbal, Facets Sri Lanka will concentrate on creating international design trends where all artisanally crafted jewellery will place a coloured gemstone as its centrepiece.  “If you look at some of the most valuable masterpieces among royalty around the world, for instance, it is a Sri Lankan gem that holds the centrepiece.  We have to bring that trend back, bigger and better of course,” he said addressing the media.

For the first 10 months of 2022, Sri Lanka’s gem and jewellery sector recorded an overall growth of 35 percent compared to the corresponding period last year, fetching a revenue of US $ 255.16 million.

In an effort to boost the sector, National Gem and Jewellery Authority Chairman Viraj De Silva called on industry stakeholders to conduct business activities in markets such as the USA, Singapore, Thailand and Europe.

He pointed out that in addition to the pandemic, China’s zero COVID-19 policy has adversely affected the sector since China ranked as the fourth largest gem importer for Sri Lanka. Following Facets, the authority has made arrangements to facilitate the participation of local stakeholders at international gem and jewellery exhibitions in Dubai, Singapore and Germany.