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Diamond and Jewellery
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Gems & Diamond and Jewellery
Sri Lanka’s Gems and Jewellery industry an age-old industry remains one of the country’s largest foreign exchange earners. Sri Lanka, long associated with the international gem and jewellery trade, has been known as the cradle of treasurers for its precious, natural gemstones historically.
Today Sri Lanka has made its mark in the international market and is known for quality gemstones and creating fine jewellery in a range of unique and exquisite designs. With this reputation, the Sri Lankan gem and jewellery industry is now geared to establish a world-class gem and jewellery hub. The entire industry employs approximately 600,000 persons including miners, cutters and polishers, dealers, jewellery designers, manufacturers and craftsmen, marketers and sales people. GEMS Sri Lanka is blessed with over 70 varieties of coloured stones out of 200 found in the world and is among the five most important gem-bearing nations of the world. The country’s breathtaking natural heritage comprises of varieties of gem minerals, which includes blue, pink, yellow and golden sapphires, rubies, padmaradchas, star sapphires, star rubies, alexandrites, cat’s eyes, spinels, aquamarines, topaz, zircons, garnets, tourmalines, moonstones, quartz and a large number of rare gemstones. Sri Lanka’s major strength is the “Ceylon Sapphire”.
Amongst the outstanding gemstones that Sri Lanka has produced in the contemporary era are the Blue Giant of the Orient (466 cts), Logan Blue Sapphire (423 cts), Blue Belle of Asia (400 cts), Rossar Reeves Star Ruby (138.7 cts), Star of Lanka (393 cts. Star Sapphire) and Ray of Treasure (105 cts. Cat’s Eye). The first three gemstones are on display at the Smithsonian Institute in Washington DC, USA. Sri Lanka’s gem industry consists of the following sectors. Free size and investment gemstones Calibrated gemstones Rare gemstones Gem cutting services • Abundance of gemstones mined in Sri Lanka or imported freely into the country. • Solitaire free size investment stones to calibrated gemstones available. • Trained and skilled cutters equipped with state-of-the-art technology. Sri Lanka’s major markets for gems: Switzerland, Thailand, USA, Hong Kong, France Japan and India.
JEWELLERY Over the centuries, Sri Lanka’s jewellery makers have refined their hereditary skills to the highest standards. Exquisite craftsmanship and sophisticated creativity, blended with the modern touch today receives the highest priority.
With the advantage of modern technology and a focus on design excellence, Sri Lanka is emerging as a design centre offering high quality jewellery collections of silver, gold and platinum.
For those anxious to retain only the finest and most authentic items, jewellery of Sri Lankan origin is independently verified and gemstones are authenticated by a government authority.
Jewellery are manufactured in 9 K, 14 K, 18 K gold, Platinum Sterling Silver or combination of 2 or more metals.
Sri Lanka’s major markets for Jewellery: United States, Hong Kong, Germany, Japan, United Arab Emirates and Switzerland.
Sri Lanka has earned a reputation for its high quality cutting and polishing Diamonds. Sri Lanka’s specialty is small diamonds of exceptionally high quality, which are imported sawn or cleaved rough. In addition to the traditional brilliant cut, many cutting companies handle other specialized shapes and cuts, particularly tapers, baguettes and princes etc.
While most of the rough diamonds imported for processing are sawn or cleaved in Belgium; a few companies purchase rough diamonds in the open market, selling the cut and polished product through overseas affiliates.
The industry in Sri Lanka is highly organized and the factories are equipped with modern equipments. Sri Lanka is a member of the International Diamond Manufacturing Association and a signatory to the Kimberly Process Agreement. Sri Lanka’s major markets for Diamonds: Belgium, Israel, Thailand, United Arab Emirates, Hong Kong, India and Saudi Arabia Sri Lanka’s own Gem and Jewellery show – FACETS Sri Lanka –International Gem and Jewellery show is held annually in September in Colombo.
Sri Lanka’s Competitive Advantages
1. Long history of gem cutting – artisan culture which still sustains itself
2. An educated and trainable workforce
3. The availability of a wide variety of precious and semi-precious gem stones
4. A business friendly government, with the minimum of formalities providing a wide array of tax incentives
5. Duty free imports of raw materials
6. Sri Lanka is an active member of International Coloured Gemstone Association (ICA)
7. ATA Carnet system is in operation in Sri Lanka and the issuing authority is International Chamber of Commerce in Sri Lanka.
8. The country is a signatory to all United Nations and International Labour Organization conventions on Labour including those on Child Labour. It has strict prohibitions on employing any person under the age of 16.
o National Gem & Jewellery Authority
o Sri Lanka Gem & Jewellery Association
o Sri Lanka Diamond Manufacturers Association
o Sri Lanka Gem Mining & Gem Dealers Association
o Sri Lanka Jewellery Association o Gemmologists Association of Sri Lanka
o Sri Lanka Diamond Manufacturers Association