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| Diwali gold jewellery sales in line with industry expectations |
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| The analyst view |
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In a country steeped in tradition, Dhanteras, usually witnesses the largest amount of gold buying on a single day. Dhanteras, fell on October 15 and buying gold on this day is considered to invoke prosperity.
Indeed this year was no exception with high gold prices not being a deterrent for consumer’s sentiment of purchasing gold on this auspicious day.
Despite high prices, gold sales across the country during the Diwali week ended October 18 were marginally higher by six per cent at 56 tonnes against 53 tonnes during the same period a year ago, according to the World Gold Council, an industry association of the world’s leading gold mining companies.
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GJEPC Exclusive: Exports September 2009 |
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(India) 26 percent growth in coloured gemstones export |
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According to the provisional figures received from the Gem and Jewellery Export Promotion Council (GJEPC) for September 2009, the total export for this month stands at US $2566 million (Rs 12,429 crores) as compared to US $2509 million (Rs 11,433 crores) last year. There is an overall growth of 2.26 percent. |
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‘Anant’ – Single Line Diamond Jewellery for Today’s Infinite Woman |
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| Part of Council’s ongoing IDJP campaign |
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The Gem & Jewellery Export Promotion Council (GJEPC) has launched ‘Anant’, an exquisite range of single line diamond jewellery, exclusively for Indian women. This initiative is jointly undertaken by the Council along with Gold Souk, Rio Tinto, International Gemological Institute (IGI) and All India Gems and Jewellery Trade Foundation (GJF) with the sole mission of promoting diamond jewellery trade in India. Sonam Kapoor, the young and promising actress from Bollywood, is the face for Anant diamond jewellery.
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| IIJS Signature: Third Edition |
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| 19th to 22nd February, 2010 |
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The third edition of IIJS Signature, a by-invitation-only luxury jewellery event organized by the Gem & Jewellery Export Promotion Council (GJEPC), is scheduled to begin from 19th to 22nd February, 2010, at Goa. This time IIJS Signature is inviting a select 250 exhibitors comprising the most reputed jewellery companies in the industry to showcase their jewellery at this much-preferred luxury show. Till date, close to 28 exhibitors have already started their initial preparations for the most prestigious event of the year..
Speaking about IIJS Signature, Mr. Navin Jashnani, managing director, Sama Jewellery and ex-convener, IIJS Signature, says, “The entire industry received a tremendous response during IIJS Mumbai which has continued till Diwali. |
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GJEPC Launches First Indo-Euro Jewellery Summit |
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| Platform between Indian manufacturers and European retailers |
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The Gem and Jewellery Export Promotion Council (GJEPC) has unveiled the official launch of the first Indo-Euro Jewellery Summit, to be held later this year in Mumbai from 18-22 November, 2009.
The basic objective of this Summit is to host a core group of 15 to 20 leading jewellery retailers with chain stores in Germany, France, UK, Spain and Italy. The 4-day summit is aimed to encourage sourcing of finished jewellery from Indian manufacturers active at the entry, mid or high-end of the market and to allow European distributors to actively discover the power of modern Indian jewellery manufacturing.
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| From The Chairman's Desk |
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The global economy and the gems and jewellery industry in particular has faced one of the most difficult years since September 2008 post the fall of Lehman Brothers bank. A steep drop in demand from USA, India’s key export destination and a decline in demand from Europe had a severe impact on the Indian Gem and Jewellery export industry. The pain experienced will not be forgotten soon, however lessons have been learned and I feel the industry has emerged stronger and better equipped to face a changing export market. One in which USA does not account as the single largest consumer.
Markets have been showing signs of recovery that were apparent in a strong buying fervor at IIJS and IDCS Show. Indian diamnataires have matured and diversified their destination of exports, constantly exploring and penetrating into new markets like South Asia and China. The domestic market has been showing promising signs of demand.
Anant – Indian Diamond Jewellery Promotion after months of hard work was officially launched on September 16, 2009. I am both excited and optimistic about the campaign that I am sure it will benefit both diamond jewellery manufacturers and retailers across the country
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