The Indian Gem and Jewelry Export Promotion Council (GJEPC) is to organize the second Indo-U.S. Jewelry Business Relationship Development Conference. The conference is slated for September 8-13 in Mumbai. It will be attended by Indian manufacturers and buyers from the biggest U.S. jewelry retailers.
In its course, it is planned to discuss industry problems facing both the retail sellers in the U.S.A. and the jewelry manufacturers in India. The participants will tour some of the most important production facilities in Mumbai and will have a series of meetings with major players of the local industry.
The fist similar conference was held recently, in the end of 2007. The main target of the Indian side is to overcome the stereotypes rooted in the U.S.A. in relation to the quality of Indian jewelry. Besides, Indian jewelers are seeking ways to offset the negative effect of a stronger rupiah rate towards the U.S. dollar. Besides, last year Indian jewelry was excluded from the U.S. Generalized System of Preferences, which resulted in its higher prices and lower competitiveness.
Indian jewelry manufacturers contemplate possible deals leading to purchasing U.S. retail networks as one of the means to solve the current problems.
In the end of February – beginning of March the State of Goa held the IIJS Signature Exhibition also organized by GJEPC. 98 Indian jewelry firms demonstrated their goods to a group of 350 selected buyers, both Indian and foreign.
The event was also to position India as a supplier of high-quality jewelry to the international market.
According to the industry mass media, the participants of the exhibition evaluate its success differently. The majority of participants speak about the necessity to attract more exhibitors and visitors, but they are affirmative when asked about their participation in the exhibition next year. Although there were some contracts signed – both to renew the old deals and to enter into new ones – no large-scale contracts were concluded this year.
Among the buyer present at IIJS Signature, there were not only the businesspersons from the European Community, South-East Asia, China and the U.S.A., but also the representatives of new markets. In particular, this show attracted buyers from Afghanistan, Saudi Arabia, Turkey, Kazakhstan, the Ukraine and Azerbaijan, trade delegations from Uzbekistan, Hungary, Poland, Russia, Iran, Japan and even Pakistan.
“This is the first forum of this kind held by GJPEC. It should demonstrate the ability of India to produce jewelry as good as the products of other centres of jewelry business in terms of design, processing accuracy and quality,” said Sanjay Kothari, GJEPC Chairman.
In the course of this exhibition, GJEPC signed an agreement with the Moscow Diamond Bourse making it its official representative on the territory of the Russian Federation.
Under this agreement, GJEPC will open its representation office in Moscow with the assistance of the Moscow Diamond Bourse to facilitate cooperation between Indian and Russian diamantaires and jewelers.
