Calcutta, Jan. 11: Wholesalers and retailers of gems and jewellery are eyeing new markets to hedge risks.

With this objective, the city is hosting the Calcutta Jewellery & Gem Fair 2014 between January 11 and 13 at the Milan Mela grounds to highlight the potential of gold craftsmanship of Bengal.

The business-to-business (B2B) congregation is expected to have 160 exhibitors, over 6,000 buyers and international participants.

“Calcutta has always been the hub of high craftsmanship. Many wholesalers and retailers are now looking for new markets. A show like this is important to do business across the table,” said Joji George, managing director of UBM India Pvt. Ltd.

“Many have not seen the potential of this market. We did about 30 roadshows and went into smaller cities to those who are not exposed yet,” George said.

UBM India, a trade exhibition organiser, is organising the fair with Siddha Group.

The West Bengal Industrial Development Corporation, one of the participants at the fair, is showcasing the upcoming gems and jewellery park at Ankurhati in Howrah district. The project is located within the gold manufacturing cluster of the eastern region and will be developed as a combination of domestic and export-oriented units.