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Articles from DIAMOND JEWELLERY (829 Articles), GOLD JEWELLERY (605 Articles), GEMSET JEWELLERY (306 Articles)


 










Show time in India

Although the Indian jewellery industry has taken a few “hits” since the GFC and, more recently, with the rupee plunging to a record low against the US dollar, Coleby Nicholson says it was not evident at the IIJS.

When the India International Jewellery Show closed on 12 August visitor attendance had exceeded 32,000 and it was not obvious that the local industry was experiencing problems.

Visitors from 85 countries attended the five-day event, organised by Gems and Jewellery Export Council (GJEPC). Chairman Vipul Shah said, “We received unprecedented pre-registrations for the show this year, and I never expected the turnout to be so good because of the slow market conditions.

“It is our endeavor to upgrade, reinvent and improve the show and go beyond the expectations of our participants. The attendee numbers have been increasing by 25 per cent year-on-year, a sign that underscores the importance of this stellar show.”

That was good news, however at a media conference during the event Shah announced that the Indian gems and jewellery export market had fallen sharply by 40 per cent, from US$40 billion in June 2012, to just under US$24 billion by June 2013 (A$43.8b to A$26b).

Shah said that diamond manufacturing had slowed because the prices of polished diamonds were no longer supported by the rising prices of rough and conceded there were many reasons for the current slowdown, including the continuing financial crisis in Europe.

“I can be open and frank and say that there has been a slowdown in the global market but I can say that the US market is currently picking up. The encouraging side is that they [US] are coming up with good numbers and consumer confidence is improving. We are quite confident that things are slowly changing and it will soon start to improve for the whole gems and jewellery industry,” Shah said.

Given the current challenges faced by the Indian jewellery trade, the problems were not evident on the exhibition floor, which was crowded over the first two days. Another reason why the doom and gloom was not apparent was due to the enormous success of India International Jewellery Week (IIJW), a four-day consumer-focused event leading into the trade show.

The IIJW is a continuous catwalk style show combining jewellery and fashion and, of course Bollywood stars. Even though the venue seats well in excess of 1,000, it has become so popular that the final presentation – The Best of the Best – runs twice on the final night to cater for the demand for tickets.

* Coleby Nicholson attended the IISJ courtesy of the fair organiser.
 

The Catwalk







 

To see plenty more images from the catwalk, go to Jeweller's Facebook album.










ABOUT THE AUTHOR
Coleby Nicholson • Managing Editor

Managing Editor • Jeweller Magazine


Coleby Nicholson is publisher and managing editor of Jeweller magazine. He has covered the jewellery industry for more than a decade and specialises in business-to-business aspects of the industry.

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Sunday, 22 September, 2019 01:01am
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