The first ever Indo-Russian Jewelry Summit Mumbai took place from June 20 to 23, 2011 at the Mumbai Hyatt Regency. The event was organized by the Gem & Jewelry Export Promotion Council (GJEPC), the Moscow Diamond Bourse and the Russian-language jewelry trade magazine «Navigator» with the aim of increasing cooperation between the country’s diamond and jewelry industry.

GJEPC chairman, Rajiv Jain, opened the event by welcoming Russian guests, and the guest of honor, Alexey Novikov, Russia's Consul General in Mumbai. He also lauded the event as a networking platform for the two trading communities and expressed his hope that the summit could become a regular gathering.

The Moscow Diamond Bourse president, Alex Popov, was supportive of future gatherings as well, telling the audience: "I hope this event will indeed become an annual event where Indian and Russian industry members can get to know each other, learn about each others' capabilities and capacities. I strongly believe that Russian retailers, manufacturers and producers can do good business in India, while Indian producers and traders will find markets for their products in Russia."