Speech by Ambassador Y. K. Sailas Thangal at the India-Kazakhstan Gems & Jewellery Business Forum
(Almaty, 18 July 2026)

Distinguished Captains of the Gems and Jewellery Industry, Ladies and Gentlemen. Salametsiz Be & Namaskar

It is a great pleasure and honour to address the India–Kazakhstan Gems and Jewellery Business Forum.

At the outset, let me extend a warm welcome to the distinguished Indian business delegation to the beautiful and vibrant city of Almaty.

India and Kazakhstan enjoy a strong and steadily growing strategic partnership. Our cooperation has traditionally been anchored in energy, culture, education, and people-to-people ties. Today, the gems and jewellery sector offers an exciting new avenue to deepen our economic engagement and unlock new opportunities for both countries.

India is today one of the world's leading centres for the gems and jewellery industry. The sector contributes nearly 7% of India's GDP and accounts for approximately US$28–30 billion in annual exports. India processes over 90% of the world's cut and polished diamonds and holds a leading global position in silver and synthetic jewellery. Our industry combines centuries-old craftsmanship with cutting-edge technology, enabling Indian manufacturers to offer products that are globally competitive in quality, design, and price.

Kazakhstan, on the other hand, represents an attractive and rapidly expanding market. According to recent trade data, Kazakhstan ranked among the world's significant jewellery importers in 2024. Domestic demand for jewellery has grown remarkably, with production and consumption increasing by more than 40% in recent years. The country's retail jewellery market is overwhelmingly dependent on imports.

In 2024, Kazakhstan imported approximately US$189 million worth of finished jewellery, while imports of the broader category of precious stones, pearls, and precious metals exceeded US$750 million. This positive trend has continued into 2025, with jewellery imports increasing by nearly 40% during the January–October period. In contrast, Kazakhstan's jewellery exports remain relatively modest at around US$11.6 million, highlighting its continued reliance on imports to meet domestic demand.

At present, Kazakhstan sources most of its jewellery imports from countries such as Russia, Italy, France, Switzerland, and Turkiye. India's share in this market remains relatively small if not negligible. This should not be viewed as a limitation; rather, it represents a tremendous opportunity for Indian exporters and investors to establish a stronger presence in this growing market.

Kazakhstan also possesses abundant reserves of precious and semi-precious minerals and enjoys a strategic location at the crossroads of Europe and Asia. These natural advantages complement India's globally competitive manufacturing capabilities, internationally recognised certification systems, and extensive marketing networks.

Together, we can build integrated value chains that benefit both our economies. Indian companies can source precious and semi-precious materials from Kazakhstan, while Kazakhstan can leverage India's expertise in jewellery manufacturing, value addition, certification, branding, and global marketing. Such collaboration would enable both countries to serve not only the Kazakh domestic market but also the wider Central Asian and Eurasian regions.

There is considerable scope to expand bilateral trade, promote joint ventures, encourage technology transfer, and facilitate investments across the entire gems and jewellery value chain.

Today's Business Forum provides an excellent platform for manufacturers, traders, designers, investors, and industry institutions from both countries to connect, exchange ideas, and build partnerships. I wish to assure all our stakeholders that the Embassy of India in Kazakhstan remains fully committed to supporting businesses from both countries. We will extend every possible assistance in addressing any challenges, including non-tariff barriers, by working closely with the concerned authorities to facilitate smoother trade and investment.

I am confident that today's deliberations will lead to stronger business partnerships, increased two-way trade, and a new chapter in India–Kazakhstan economic cooperation.

With these words, I once again congratulate all participants. I wish you every success in your discussions and fruitful business engagements.

Köp Rahmet! Thank you very much.

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