GEM AND JEWELLERY EXPORT PROMOTION COUNCIL
GJEPC
Hosts Gem and Jewellery Buyer Seller Meet for international buyers in Mumbai
· Global
buyers from the U.S., the U.A.E., Egypt, Germany, Lebanon, Panama and Saudi
Arabia, interact with Indian jewellery manufacturers
·
New emerging trends of big chunky diamond engagement rings
for American women proposing to men discussed during the Meet
Mumbai, 1st October 2023: The Gem and Jewellery
Export Promotion Council of India (GJEPC), the apex trade organization
dedicated to promoting Indian gem and jewellery exports worldwide, organised the Gem and Jewellery Buyer Seller Meet
(BSM) at ITC Grand Maratha, Andheri, Mumbai, on September 29th and 30th, 2023.
This event is specifically designed to cater to international buyers from the
U.S., the U.A.E., Egypt, Germany, Lebanon, Panama and Saudi Arabia,
constituting a total of 30 buyers.
The
Indian gem and jewellery manufacturers showcased an extensive array of
offerings, which encompassed of Finished diamond jewellery and loose diamonds
among other products.
The
BSM hosted a diverse group, including top marquis, large chain retailers,
wholesalers, importers, top designers, distributors, and retail jewelers from
around the world. This event showcased a comprehensive view of the Indian
jewellery industry, covering both the production and supply side, as well as
consumer retail business.
Vipul
Shah, Chairman of GJEPC, expressing
his gratitude to global buyers visiting the BSM, said, "Your presence at
this event signifies your confidence in the resilience of our industry. It
reinforces our steadfast belief in the prospect of brighter days that lie
ahead. The gem and jewellery industry has encountered its fair share of
difficulties in recent times, primarily due to decreased demand caused by
global economic downturns and geopolitical instability. Nevertheless, we are
dedicated to enhancing exports by exploring new markets and hosting such events
allow us to engage with buyers, gaining insights into their current preferences
and trends in gems and jewellery in their markets.
Milan
Chokshi, Convener, Promotions & Marketing, GJEPC, said, “The U.S., Europe and Middle East are the
three key markets for India’s gem & jewellery exporters. The Buyer-Seller
Meet in Mumbai is significant as India is at the centre of the global gem &
jewellery business with respect to manufacturing, value addition and trading of
rough diamonds and jewellery. Indian trade are omnipresent in all aspects of
the global gem & jewellery value chain.” He added, “Furthermore, the BSM
provides a unique platform to exhibit top-quality products, including
diamond-studded jewellery and loose diamonds manufactured in India. It
reinforces India's position as the leading source for trendy, fashion-forward,
and margin-friendly jewellery.”
The
BSM followed a structured Buyer Seller Meet format, featuring pre-scheduled
one-on-one meetings lasting approximately 30 to 40 minutes between buyers and
sellers during the first two days. On the third day, attendees will have the
opportunity to visit manufacturing facilities.
The
United States holds immense significance for the Indian gem and jewellery
industry, representing 33% of India's total gem and jewellery exports. Notably,
cut and polished diamonds account for a substantial portion of these exports,
valued at $7,984.61 million, along with studded gold jewellery, totalling
$2,406.52 million. These figures highlight India's pivotal role in the global
gem and jewellery supply chain and the deep-rooted ties between the two
nations. There were 17 buyers from USA attending the BSM.
Shahla
Karimi, award winning designer based in New York, said, "The American market is very different and
pioneers new trends. Engagement rings are a big trend. Right now American women
are proposing to men with diamonds. Customers prefer 4 to 5 carat lab
rocks and want intricately designed piece that no one else has. There is a
huge demand for unique one-of-their-kind heavy diamonds with thin bands.”
Dallas
Prince, an award-winning international designer from the U.S. who has also been
a former model and TV show host in Germany and Austraia, said, "Being in India is amazing and I look
forward to working with Indian jewellery brands. The jewellery business is
fascinating as there is nothing like this business anywhere here in the world.
Having seen the business evolve from all dimensions, I feel this is the right
time to take India to the world."
Peter
Storm, eminent American designer, said,
"The fascination for bigger chunkier diamonds is still there but American
customers prefer skinny bands. Indian exporters and designers need to study
customers based on their social digital profiles and preferences. Then they
will find it easier to curate the coveted pieces for global markets."
Mia
Katrin, award winning designer of the JewellersMarketer.com said that it was a great show.
Michael
Schreier said, "This is my 46th
year in jewellery sourcing business. I have an Amazon storefront in
Massachusetts and seeing Indian designs on CAD-CAM was most exciting. It is
wonderful to witness the changes in India and meet designers here."
Ali Pastorini, President-International, MUBRI, said, “The Buyer-Seller
meet idea is very powerful as it make us (international buyers) get closer to
Indian suppliers. It helps curate long term relationship to prepare and tap the
emerging mega opportunities.”
Tony
Goldsberry of Rock House said,
“I was at the Hong Kong Jewellery Fair but I prefer Mumbai BSM's intimate
environment where one can get a one on one private sitting with Indian
jewellers and designers. Buyers can challenge the retailers by asking the right
questions and learning from the meetings about their design philosophy.
American market is hugely different from the Middle East or Far East but there
is lot of opportunity therein. Indian designers and retailers need to learn to
curate special unique designs for American customers.”
GJEPC has further lined up events aimed at
providing Indian gem and jewellery manufacturers with global exposure in the
near future. This agenda encompasses organizing the IGJS Dubai, Silver
Jewellery BSM in Spain, IGJS in Jaipur, India Week In New York. Apart from
this, India Pavilion will be part of all the major gem and jewellery
international shows.
About The Gem and Jewellery Export Promotion Council (GJEPC)
The Gem & Jewellery Export Promotion Council
(GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966,
is one of several Export Promotion Councils (EPCs) launched by the Indian
Government, to boost the country’s export thrust, when India’s
post-Independence economy began making forays in the international markets.
Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex
body of the gems & jewellery industry and today represents 9000 members in
the sector. With headquarters in Mumbai, GJEPC has Regional Offices in
New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres
for the industry. It thus has a wide reach and is able to have a closer
interaction with members to serve them in a direct and more meaningful manner.
Over the past decades, GJEPC has emerged as one of the most active EPCs and has
continuously strived to both expand its reach and depth in its promotional activities
as well as widen and increase services to its members.
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