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| Jewellery Trends This Wedding Season |
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| Indian Brides are looking beyond plain gold jewellery as precious stones embedded in 22k gold jewellery gets in vogue. |
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The wedding season in India typically begins around mid April. Gold import figures indicate a 30-40 percent slide in demand for jewellery this year (source: Economic Times). Jewellers across the nation are out to attract their customers with various discounts and prize schemes. Big retail chains in the likes of Tanishq and Joy Alukkas have been offering special discounts on making charges and volume buying. Some standalone retailers and brands like Asmi, D’Damas and Nakshatra have launched special lines of bridal jewellery.
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Though the demand for gold has gone down by over 40 percent and prices are still hovering around Rs 15,000 per 10 grams, purists of the trade feel that the wedding season business is unlikely to be disturbed. It is a general view that though parents have been toning down their jewellery buying according to budgets, they are not stopping to give gold jewellery to their daughters.
Subtle differences in bridal Jewellery preferences are being noticed across north and south India.
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| Trade Stats |
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Indian Gems and Jewellery Exports & Imports in May 2009 -
Exports decline by 5.5 percent, while imports of cut and polished diamonds grow 11 percent. |
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| According to the provisional export figures for the month of May 09, exports of Indian Gems and Jewellery declined by 5.57 percent compared with the same month in the previous year. |
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| Indian Delegation Visits China and Vietnam |
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Seven-member delegation attends Jewelry Shanghai 2009 Show, takes steps towards forging stronger business relationships
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The Gems and Jewellery Export Promotion Council (GJEPC) sent a seven-member delegation to China and Vietnam to interact with prospective traders and establish areas of co-operation between India and these two countries. The delegation attended the Jewelry Shanghai 2009 Show, held from 13-19 May 2009.
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| Gems and Jewelry Industry seeks Budgetary Relief |
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| Proposes enhanced Dollar liquidity, lower lending rates, 2-year tax holiday, Turnover Tax and Import Duty reductions |
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| Mumbai, June 11, 2009: In the recently held discussions with the Honorable Finance Minister, Shri Pranab Mukherjee, representatives from various export sectors put forth their issues, problems and expectations from the forthcoming budget. Representing the Gem & Jewellery industry, Mr. Vasant Mehta, Chairman, Gems and Jewelry Export Promotion Council (GJEPC), presented a plan that would not just help the Industry sustain its leadership position but enable it to grow. |
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| First India Diamond and Colourstone Show |
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| An Exclusive Opportunity Two Days Prior to IIJS |
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The India Diamond & Colourstone Show (IDCS) has been organized in response to the need of jewellers to source their requirements of diamonds and coloured gemstones from the very source.
Around 50 of India's leading manufacturers of diamonds and gemstones showcasing their offerings at the IDCS, in a focused, private environment. Whether it's perfectly matched assortments of the smallest sizes or multi-carat sparklers - the show will have all the gemstones you need under one roof.
To know more click here.
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| From The Chairman's Desk |
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| The First India Diamond & Colourstone Show and Indian Delegation to China & Vietnam |
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The recent delegation to China was a follow up delegation post the Indo China BSM in Shanghai and Shenzen in 2008. The objective behind sending this seven-member delegation to China was to interact with the prospective traders and establish areas of co-operation, seek participation in IDCS and IIJS 2009, study and look into possibilities of Joint Ventures and to upgrade and provide assistance in skill development.
We have always worked towards fostering healthy trading relationship with the Chinese jewellery industry. China is a key market in the global jewellery industry, growing at nearly 10 percent per year. China is a growing market and hence a key destination to promote our brands and sell our products.
I am looking forward to the participation of the Chinese trade delegation during the first edition of India Diamond & Colourstone Show (IDCS) from August 4-5, 2009 and India International Jewellery Show (IIJS) from August 6-10, 2009 respectively.
Vasant Mehta
Chairman -
GJEPC
Mumbai,
INDIA.
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