The Gem & Jewellery Export Promotion Council of India announces the appointment of its new Chairman and Vice Chairman
Key Focus: Generic Diamond Promotion, Expansion in emerging Markets, Emphasis on Manufacturing Exports and Inclusive Industry Growth
October 12, 2012: The Gem and Jewellery Export Promotion Council held a press conference at the Inter-Continental, Marine Drive, Mumbai today to introduce the newly elected Chairman of the Council Shri. Vipul P Shah and the Vice Chairman Shri. Pankaj Parekh, who will take over responsibilities from the outgoing Chairman, Shri. Rajiv Jain and Vice-Chairman, Shri. Sanjay Kothari respectively. The new members will hold office for the next 2 years.
On the occasion, the GJEPC unveiled its plans for the third and fourth quarter of the FY 2012-2013 with the Chairman sharing his insights into the business trends for the gems and jewellery industry for the upcoming festive season.
Speaking at the conference Mr. Vipul Shah said, “The Council will focus to penetrate new emerging markets through Buyer Seller Matching programmes or trade delegations in the region. To provide impetus to the Diamond trade its pertinent to promote diamonds and boost consumer confidence for the category. Council will continue to promote India as the leading global gem and jewellery destination as well as further consolidate the domestic gem and jewellery industry while lending support and boosting the country’s jewellery business. I hope to lead the Council to achieve greater milestones and further the growth that the industry has achieved thus far. “
Vipul Shah, Chairman, GJEPC
The Chairman has been an active spokesperson and an ardent supporter of all activities that promote not just the gem and jewellery industry, but more specifically, of the Indian Diamond Industry. Given his dynamic leadership and able guidance, the Council is poised for further growth in the upcoming months.
To enhance growth for the Gem & Jewellery Sector, this Council delineates key focus initiatives to be undertaken in the coming months.
1. Develop strategy for Promotion of diamonds in India and China
World over the Gem and Jewellery Industry is witnessing a downturn as is India which has otherwise been considered as a leading market for diamond and diamond jewellery consumption. Volatile gold prices, reduced media spends, absence of diamond jewellery promotion , have limited the growth of this industry in recent years.
In order to provide impetus to the business, a sustained Marketing Campaign that would directly address the need faced by India and other emerging consumer markets such as China is being proposed. The promotion is aimed at boosting confidence and driving the desire to own diamonds amongst consumers in India and China.
2. Expansion in New Markets
GJEPC undertakes organizing and partnering at various trade oriented events that aim at promoting bilateral trade relations with various countries and markets for mutual cooperation. These activities are aimed at bolstering business enterprise and exploring growth opportunities in the different markets. These include direct promotional activities such as joint participation at international jewellery shows, sending and hosting trade delegations, Buyer-Seller Meets amongst others.
Pankaj Parekh, Vice Chairman, GJEPC
The Council conducted its 1st BSM with RUSSIA and CIS in 2007 followed by CHINA in 2008
The Council will be hosting the Indo-Russia Jewellery Summit 2012 from 28-31st October 2012 at Hyatt Regency, Andheri where 15 select member companies will be participating in the Summit. 12 buyers who comprise of established retailers/wholesalers with retail turnover in the range of US$ 4 million to US$ 300 million from Russia/CIS countries will be attending the summit.
Enthused by the success of Buyer Seller Meets hosted with USA, Europe, Russia/CIS & China, the Council plans to organize an Indo-Australian Jewelry Buyer Seller Meet in May 2013. The proposed 2-day business meet is a first for the Council and will be organized in Sydney and Melbourne with the aim to establish relationships with leading jewellery chains and buying groups who significantly import jewellery for local consumption. The BSM is expected to help the participants to understand and navigate international trade barriers with Australia and their accepted business practices, as well as get an insider’s guide to some of the local importers who may be conducting successful businesses with Indian manufacturers.
The Council will also be participating at the Jewellery Arabia, Bahrain from 16- 20 October 2012, Vicenzaoro Winter 2013, Italy from 19 – 24 Jan 2013, 51st Bangkok Gems & Jewelry Fair 2013, 26 Feb-2 March 2013 and the Hong Kong Int’l Jewellery Show 2013, 5-9 March 2013 that are aimed at promoting Indian retailers on an international platform as well as opening up opportunities on the international front.
From L to R – Pankaj Parekh, Vice Chairman GJEPC, Vipul Shah, Chairman GJEPC, Sanjay Kothari, Convenor GJEPC, Sabyasachi, Executive Director GJEPC
The Council is further exploring the possibility of being a part of the proposed India Show at Dhaka, Bangladesh from 3-5 Dec 2012. The show is being organized by FICCI and is aimed at encouraging importers to directly source from India, thereby strengthening trade relations in the jewellery sector.
The 6th edition of the Signature 2013 has been scheduled at Bombay Convention & Exhibition Centre, Mumbai, from 22-25 February 2012 with over 500 exhibitors across a 1000 booths. Spread over 30,000 sqm with International Pavilions from Belgium, Israel, Turkey & Thailand the show will be attended by over 10000 national & International visitors. A successor to the IIS, the Signature is now recognized as India’s top-of-the line B2B jewellery show which boasts of showcasing some of the best and most innovative Jewellery designs by the country’s leading manufacturers.
3. Inclusive growth of the sector
Proposals have been submitted by the Council under the 12th five year Plan and approved by the Ministry of Commerce & Industry to include the establishment of a Convention Centre in Mumbai, a Common Facility Centre at Gujarat, Gem Bourse in Jaipur, Gem & Jewellery Park in Mumbai, Technology Up gradation in Gems and Jewellery Sector and a Gem & Jewellery Training Centre at Domjur, Kolkata. The total proposed outlay in 12th Plan (2012-17) is Rs. 1194.19 crores.
Industry aims to achieve focused skill development of the industry in association with the GJSCI. Setting performance standards for the council Institutes and Laboratories is also on the anvil.
4. Emphasis on Manufacturing Exports
In order to maintain consistency of Rough supply of Both Diamonds and Coloured gemstones, Council under the guidance of the Ministry will strive for cohesive trade policies and business friendly regulations. Modernisation of manufacturing units of both diamond and jewellery will also be initiated and implemented.
Notes to Editor
The Gem & Jewellery Export Promotion Council is an all – India apex body for Gem & Jewellery representing 5,500 members. Set up in 1966, it operates under the supervision of the Ministry of Commerce & Industry, Government of India.
Dolly Choudhary, GJEPC, [email protected], 9987753823
Sumedha Joneja, Clea Public Relations, [email protected], 9833383373