Vol. No.: 1 | Issue: 1

Indian Gems and Jewellery Industry :- Is the ‘Worse now Behind Us’

Decline in Diamond exports narrowed to 5% in March 2009, Indian Gold Jewellery exports surged 31% in March, Domestic Gold Demand Increased By 14% On Akshay Trithiya, signs of revival are finally appearing. Will it last? At least so think a lot of people.

September 2008 marked the start of one of the most severe economic crisis in the world since the ‘Great Depression’. Unfortunately, the global gems and jewellery industry was one of most severely affected businesses. Diamond exports from India declined in the order of 30% per month in the last few months of 2008.

However, the decline has slowed in 2009. Indian diamond exports declined by 20% in February 2009 compared to the same month in the previous year and according to the latest figures, diamond exports declined only 5% in March 2009.

Is the worst over for the industry? Vasant Mehta, Chairman of the Gems and Jewellery Export Promotion Council (GJEPC) of India, believes this to be the case. Without speculating about the exact time, looking at the current revival in the gems and jewellery sector, he feels that the worst might be over for the industry in another two or three months. Though he still would like to “wait and watch” as there has been a few vital signs of improvement in the diamond markets internationally.

Trade Stats

Indian Gems & Jewellery Exports in March 2009 -
Total exports increase by 3.6%

Indian total gems and jewellery exports increased by 3.6% in March 2009 compared to the same month in the previous year. Exports in March 2009 totalled Rs 8,846 crores compared to Rs 8,539 crores in March 2008.

Tech Corner

E-Commerce Opportunities for the Gems and Jewellery Industry -
Reduce Marketing and Selling Costs, Tap New Markets

E-commerce has transformed traditional business channels for many industries, gems and jewellery being one of them. The Gems and Jewellery industry lends itself perfectly to E-commerce.

A consumer can look at magnified images of jewellery pieces on his or her laptop, compare jewellery across three to four stores and have the jewellery delivered to his or her doorstep.

Maximize your IIJS investment

Don’t miss an opportunity to enjoy early bird prices to ensure you maximize your IIJS experience.

Make sure your pressence is felt before, during, and after the show, to visitors from all over India and across the globe.

Call us now at +22 66291110 to book your slot- first come first serve basis!

IIJS 26th Edition – Aug 6-10 2009

The Road to Recovery…Starts at IIJS 2009

While the jewellery industry the world over is passing through uncertain times, the Indian market continues to show resilience and promise of growth. And there’s no better place to tap the potential of this growing market than at the 26th edition of IIJS.

IIJS is India’s flagship jewellery trade show at which the industry converges in larger numbers (upwards of 30,000 trade visitors) than at any other event. Retailers, buyers, manufacturers, designers – from the largest companies to boutique firms – they will all be there. This is where their plans are laid for the entire year.

This platform will provide an unparalleled opportunity to discover the various facets of today’s India especially the surge in its business and economic growth.

To know more click here.

From The Chairman's Desk

The Message at the launch of monthly E Newsletter.

I am happy at the launch of the new monthly E Newsletter of the GJEPC. In accordance with the changing times we at the GJEPC decided to change the format of the old newsletter. The members will now be able to read the latest news of the global industry at the click of a button.

The industry has been passing through tough times since September last. However, we are now seeing some growth in consumer demands and this is expected to rise further. We expect that in the second half of the year the consumers will return to the shops with new demands and the markets will bounce back with a substancial growth.

However we have to find new markets for our product and support the efforts of promotion and marketing. Your council is working on Domestic and International campaign on promoting Diamonds and Diamond jewellery. Members will have opportunities to showcase their product in China,Middle East and CIS countries in addition to the consumers in Domestic market.

A trade delegation to China at the Shanghai Jewellery show this month and a focussed loose Diamonds and Colour Stone ahow in August are the two new addition to the regular promotional activities of the Council.The response of booking for booths at the IIJS show is overwhelming thus reflecting the changing times.

Wishing all the members good business,

Vasant Mehta
Chairman - GJEPC
Mumbai, INDIA.