As part of its Global Market Insights series, GJEPC’s Research Division hosted a webinar on 22nd August aimed at Indian businesses looking to expand their reach into the UK market. Over 130 participants attended the session, highlighting the growing interest in exporting gems and jewellery to the UK.
Dr. Rashmi Arora, Economist, GJEPC, emphasised the UK’s importance in achieving the government’s ambitious target of $1 trillion in exports by 2030. The UK’s strong demand for unique designs, luxury items, and ethically sourced products presents a significant opportunity for Indian exporters.
Guest speakers Mr. Jayant Raniga, CEO, Pure Jewels and Mr. Lennox Addo, Co-founder & Event Director, Jewellery Show, London highlighted a shift in consumer preferences within the UK market. Consumers are increasingly looking for brands that prioritise sustainability, ethical sourcing, and transparency. Indian exporters were urged to adapt their offerings to resonate with these values, particularly those that underline fair trade practices and environmental responsibility.
The upcoming Jewellery Show, London on 1st-2nd September, 2024, was presented as an excellent opportunity for Indian exporters. The webinar also encouraged Indian exporters to leverage digital platforms, e-commerce, and blockchain technology to enhance transparency and build trust with consumers, who increasingly value online purchasing.
Adopting sustainable practices was identified as another key strategy. UK consumers are demonstrably willing to pay a premium for environmentally friendly and ethically sourced products.
The webinar concluded by offering a roadmap for Indian gem and jewellery exporters looking to expand into the UK market. By understanding the unique characteristics of the UK market, adapting to new trade realities, and embracing technology and sustainability, Indian businesses can significantly enhance their presence.