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  • MJGF’13: Rallying the 2.5 lakh crore Indian gems & jewellery industry under one roof

    Published on November 30, 2013

    In India, jewellery inspires a passion unlike any other object of desire. Since the past two days, UBM India’s Mumbai Jewellery and Gem Fair 2013 has been the ideal platform for the country’s gems & jewellery industry to network and grow. The 3rd edition of the MJGF was organized from 27th to 29th November, 2013 at the Bombay Convention & Exhibition Centre, Mumbai. The 2013 edition of the event catered to leading exhibitors with a larger and more lucrative format.

    Mr. Tejas Shah, Business Head, Barf Diamond Jewellery, said, “UBM India’s Mumbai Jewellery and Gem Fair 2013 was an excellent forum to participate. We received an overwhelming response in the 3 days of the event. We plan to participate further at the Hyderabad Jewellery and Gem Fair 2014.”

    The event was inaugurated by Mr. Mehul Choksi – Chairman, FICCI – Gem & Jewellery Segment & CMD, Gitanjali, Mr. Mohit Khambhoj – President, Bombay Bullion Association, Ms. Naina Lal Kidwai, President, FICCI, Mr. Haresh Soni – Chairman GJF, Mr. Manish Jain – Vice Chairman GJF, Mr. Ashok Minawala – Past Chairman GJF, Ms. Nirupa Bhatt – MD, GIA India & Middle East, Dr. Arbind Prasad, Director General, FICCI, Mr. Anil Waghadkar – President, MSSM and Mr. Nitin Khandelwal – GJF.

    The first day of UBM India’s MJGF’13 featured a Gems and Jewellery Conclave, a focused conference hosted by Federation of Indian Chambers of Commerce and Industry (FICCI) and UBM India. There was a panel discussion on the ‘Present scenario and challenges faced by jewellers’. Key panelists included Mr. Nitin Kadam, Committee Member – MSSM, Mr. Nitin Khandelwal, Committee Member – MSSM, Mr. Anil Waghadkar, President – MSSM, Mr. Ajit Pendurkar, Committee Member – MSSM, Mr. Anand Mhapralkar, Committee Member – MSSM and Mr. Dilip Lagu, Secretary – MSSM. The event also had a White paper launch by A.T. Kearney, the first ever release of a research report on the industry.

    The highlight of the trade fair on the 2nd day was the UNNATI program by Maharashtra Saraf Suvarnakar Mahamandal (MSSM), a Maharashtra State level association for the development of Jewellers and Gold smiths in collaboration with All India Gems and Jewellery Trade Federation (GJF). The speaker for the session Mr. Naren Walters from MSSM discussed the topic of Taking business to the next level. The program focused on improving business and maintaining good relations with the customer. Various other techniques and skills were explained in the program which is applicable to the retailers in the industry. The session included application of the use of technology and systems by the retailers in the sector.

    The Mumbai Jewellery & Gem Fair 2013 featured participation by Sheetal Manufacturing, Hari Krishna Exports, Kiran Jewels, Laxmi Dia Jewels, Itan Jewels, Sangam Chains, Jai Gulab Dev, Techno Vision Engineering, A & D Instruments, Citizen Scales, Barf Diamond Jewellery and many others. Mr. Nikhil Panchamia, Area Manager (Gujarat), Sheetal Jewellery House said, “Diamond market in India is growing at a positive rate of around 30 to 35%. The current trend in the diamond segment is the Pink Diamond. Being the world’s largest volume manufacturers for polished diamonds, we feel that the diamond market is growing and here to stay for another 15 to 20 years.”

    The domestic Gems and Jewellery industry had a market size of INR 251,000 Cr in 2013, with a potential to grow to INR 500,000 to 530,000 Cr by 2018. Considering its immense potential and contributions, the Indian Government has also declared the sector as a thrust area for export promotion. The jewellery and gems sector is highly export-oriented, labour-intensive and a major contributor to employment, GDP and foreign exchange earnings. According to Mr. Joji George, Managing Director, UBM India, “India is a manufacturing base for gems and jewellery. Globally, India is well known as an important diamonds and jewellery manufacturing hub and is an important source of supply across the world. UBM India’s Mumbai Jewellery and Gem fair 2013 presents a right platform and meeting place to network for the gems and jewellery segment and the larger industry needs in order to meet, build synergies, and grow the market further.”

    The gems and jewellery industry has a far-reaching impact in the Indian economy- it is one of the highest contributors to export. It provides employment to 2.5 million directly and has contributed INR 99,000 Cr as value addition to the economy.

    Source : Janis Fernandes