{"id":3751,"date":"2019-08-15T18:33:00","date_gmt":"2019-08-15T13:03:00","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=3751"},"modified":"2021-06-09T11:54:25","modified_gmt":"2021-06-09T06:24:25","slug":"iijs-to-boost-sentiment-foster-dialogue-in-gems-and-jewellery-industry","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/iijs-to-boost-sentiment-foster-dialogue-in-gems-and-jewellery-industry\/","title":{"rendered":"IIJS TO BOOST SENTIMENT, FOSTER DIALOGUE IN GEMS AND JEWELLERY INDUSTRY"},"content":{"rendered":"\n

THE GEMS <\/strong>and jewellery industry has been in the news in the recent past, and often for reasons that would not inspire optimism. In this context, say exhibitors, a show like the India International Jewellery Show (IIJS), which begins today, is an even more important platform for the industry.<\/p>\n\n\n\n

IIJS Premiere, organized by the Gems and Jewellery Export Promotion Council (GJEPC), is in its 36th edition and is meant to promote Brand India, establishing the country as the prime hub for jewellery sourcing. IIJS brings the Indian gems and jewellery sector to a global platform, with many foreign buyers in attendance.<\/p>\n\n\n\n

Pramod Agrawal, Chairman, GJEPC, says, \u2018India is the preferred sourcing destination for quality gems and jewellery to the world, and over the years, the IIJS, GJEPC\u2019s flagship event, has been successful in fulfilling the gem and jewellery demands of both domestic and international markets. This year, the show will host more than 1,300 exhibitors across 2,500 plus stalls. We are expecting 40,000 trade visitors from over 80 countries and over 800 towns pan-India. The show will witness leading global jewellery brands, manufacturers and retailers come under one roof. We are also happy to have delegations from Bangladesh, China, Kuwait, Malaysia, Nepal, Qatar, Russia, Singapore, Sri Lanka, Turkey, the UAE, the UK, the USA and many other countries at the show.\u2019<\/p>\n\n\n\n

Mansukh Kothari, Convener, National Exhibitions, adds, \u2018Our efforts have to give our exhibitors and visitors a better experience every time. This year, a host of features has been introduced at IIJS. There is an addition of 100 new exhibitors; visitor registration is online only; there is an additional car parking area, shuttle services from various hotels to the IIJS Premiere show venue and much more. We have also introduced pre-fabricated and furnished designer booths. In its quest to elevate the show to a worldclass stature, the council has also revised structural norms for mezzanine booths, besides introducing other modifications to lend a uniform look to the show. I hope that the show will play a key  role in helping all stakeholders achieve their business and networking goals.\u2019<\/p>\n\n\n\n

Shailesh Sangani, former convener and Member, Committee of Administration, GJEPC, says, \u2018The instability in gold prices is what has kept the customer away. For that and many other reasons, like the monsoon deficit, it is possible that IIJS might be a bit softer this year. However, since the event brings many stakeholders, including bankers, to the same platform, they can see first-hand how business is being conducted, and everyone can engage in discussions on how to talk to the government and come up with solutions to industry problems.\u2019<\/p>\n\n\n\n

CAUTIOUS OPTIMISM, FOCUS ON THE PRODUCT<\/strong><\/p>\n\n\n\n

One common refrain among the industry \u2013 if the industry wants to overcome these challenges \u2013 is that the focus should be on the product. \u2018The best bet for survival is to excite the consumer. We need design innovation and sales and marketing efforts. Being a B2B show, IIJS offers retailers a look at thousands of products so that they can, in turn, excite their customers for Dhanteras and Diwali. Despite the macroeconomic factors affecting the industry, we are cautiously optimistic that IIJS will change the sentiment,\u2019 says Colin P Shah, Vice Chairman, GJEPC.<\/p>\n\n\n\n

\u2018The challenges in the industry are because we are not all disciplined internally. IIJS is a fabulous platform that brings all sellers together, and this time, at IIJS, I think all sellers should decide and work together \u2013 focus less on credit, and more on the right product,\u2019 says Nirav J Bhansali, CEO, Prism Enterprises Pvt. Ltd.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

\u2018The outlook looks pretty decent. People working on innovation in their products have not been hampered by the economic conditions. Finally, the fittest product will survive in the market, and IIJS will help showcase exactly that,\u2019 says Jaymin H Vora, partner, Romil Jewellery. \u2018The outlook is positive. We will grow more when people come together,\u2019 says Rajiv P Mehta, Director, Dimexon Diamonds Ltd.<\/p>\n\n\n\n

\u2018Foreign markets are not affected in the same way as ours and so I foresee no impact on IIJS. Foreign buyers will be able to see new products and changes in the market, which is what they come to see. Exhibitors are preparing well despite the domestic market,\u2019 says Mahender Kumar Tayal, Chairman, southern region, GJEPC.<\/p>\n\n\n\n

INCULCATING BEST PRACTICE PRINCIPLES<\/strong><\/p>\n\n\n\n

Nirupa Bhatt, MD, GIA India and Middle East, says, \u2018IIJS is critical at a time like this. Everything is changing \u2013 consumer mindsets, the way business operates, technology \u2013 and we all have to put our heads together, and come up with an action plan that can be implemented in small groups or in regions.\u2019<\/p>\n\n\n\n

Adds Bhansali, \u2018The seminars at IIJS will help with inculcating best practice principles along with bankers. The platform can be used to bring about change so that sellers speak in one voice \u2013 we should sell jewellery, not credit,\u2019 he says. He is referring to the Spectrum Seminars at IIJS Premiere 2019, with the theme \u2018Growth Strategy for Jewellers\u2019 (see box). Echoing that thought, Sachin Jain, President, Forevermark Diamonds India Pvt. Ltd., says, \u2018For those who are running the business correctly, the outlook for a show like IIJS is positive. I anticipate a good show.\u2019<\/p>\n\n\n\n

Adds Russell Mehta, Member, COA, GJEPC, \u2018IIJS is a platform for the entire industry \u2013 buyers, sellers, vendors, service providers, thought leaders. The hope is that at a platform like this, we can find solutions for the entire industry \u2013 how to form, reform and chart our way forward.\u2019 Says Premkumar Kothari, Chairman, Fine Jewellery Group of Companies, \u2018IIJS is definitely supporting trade by creating a platform for buyers to meet. No matter what the recessionary factors, it is helping ease of business.\u2019<\/p>\n\n\n\n

\"\"<\/a>
(L-R) Sanjay Kala, Member, National Exhibition, Sub-committee; Ashok Gajera, Regional Chairman, Western Region; Colin Shah, Vice chairman, GJEPC; Gaetano Cavalieri, President, CIBJO; Pramod Agrawal, Chairman, GJEPC; Shailesh Sangani, Former Convener, National Exhibitions, GJEPC; Ashok Seth, Regional Chairman, Northern Region<\/figcaption><\/figure>\n\n\n\n

RAISING BUYER CONFIDENCE<\/strong><\/p>\n\n\n\n

With the most cutting-edge innovation in design, technology and manufacturing on display, IIJS will help raise the confidence of buyers and business visitors in the Indian gems and jewellery sector. \u2018After the increase in import duty on gold, the price of gold in the domestic market has gone up. With this, other markets will see a rise in exports. We are hoping IIJS will help raise exports for us too, since there will be more foreign buyers, especially from the Middle East, the UK and the US markets. The first day, the preview, will help us connect with buyers,\u2019 says Dipakkumar Dholakia, Partner, Chokshi Vachhraj Makanji & Co.<\/p>\n\n\n\n

Of course, there are some who think the challenges will hit the industry in the short term. \u2018The government has to address the disparity in gold prices, or domestic demand will suffer. Even IIJS will not be like last year \u2013 I\u2019m apprehensive that there might be smaller crowds, less business,\u2019 says K Srinivasan, member, Gold Jewellery and Other Precious Metal Jewellery Panel, GJEPC.<\/p>\n\n\n\n

However, this setback is shortterm and only an indication of long overdue corrections in the industry, say others. \u2018The challenges the industry has been facing, when seen in context, were overdue corrections, I think. These corrections will prove very helpful in the future. Consumer confidence about the Indian market will also grow. There will be some short-term problems, the industry size might shrink temporarily, but it will lead to good outcomes in the future. In this context, IIJS can help raise buyer confidence since it is the only platform of its kind where the entire industry gets together,\u2019 says Kamlesh Parekh, Director, Imaginarium (India) Pvt. Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"

THE GEMS and jewellery industry has been in the news in the recent past, and often for reasons that would not inspire optimism. In this context, say exhibitors, a show like the India International Jewellery Show (IIJS), which begins today, is an even more important platform for the industry. IIJS Premiere, organized by the Gems…<\/p>\n","protected":false},"author":1,"featured_media":3753,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[91,113],"tags":[],"thb-sponsors":[],"class_list":["post-3751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events","category-national"],"acf":[],"yoast_head":"\nIIJS TO BOOST SENTIMENT, FOSTER DIALOGUE IN GEMS AND JEWELLERY INDUSTRY - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/iijs-to-boost-sentiment-foster-dialogue-in-gems-and-jewellery-industry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IIJS TO BOOST SENTIMENT, FOSTER DIALOGUE IN GEMS AND JEWELLERY INDUSTRY - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"THE GEMS and jewellery industry has been in the news in the recent past, and often for reasons that would not inspire optimism. 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