GJEPC sees increased footfall at Mumbai IIJS Premiere
By David Brough
MUMBAI, July 28, 2017 – India’s Gem & Jewellery Export Promotion Council (GJEPC) reported increased footfall as this year’s newly rebranded “IIJS Premiere” got under way, signalling strong orders by retailers.
“Our customers are very happy. Footfall is much higher than last year,” Praveenshankar Pandya, chairman of the GJEPC, told a news conference on the second day of the Mumbai show.
The 34th edition of IIJS Premiere, which runs until July 31, showcased primarily Indian 22-ct gold and gem-set jewellery to retail buyers.
Jewellery Outlook Editor David Brough speaking at a seminar at IIJS Premiere about exporting Indian handcrafted gold jewellery to the UK market.
Pandya outlined GJEPC’s vision to boost gross export revenues of Indian gems and jewellery to USD$60 billion by 2022 from around USD$43 billion now.
This will be achieved by promoting sales of Indian handcrafted gold jewellery to key markets, such as the United States and United Kingdom, as well as driving forward sales of diamonds and diamond jewellery manufactured in India, and colour gemstone jewellery exports.
Jewellery Outlook Editor David Brough took part in a seminar on the sidelines of IIJS Premiere on July 28 looking at how Indian handcrafted gold jewellery can penetrate the US and UK markets.
Brough spoke of a variety of tastes for gold jewellery designs among British Asian customers who visit the main hubs of British Asian retailers, such as Green Street, Southall, Wembley, and Tooting in London.
At the inauguration ceremony on July 27, Pandya expressed the GJEPC’s support for the Diamond Producers Association (DPA), which is driving a generic diamond jewellery promotional campaign around the world, prioritising markets such as the US, India and China.
He said he believed DPA would require a budget in excess of USD$100 million next year to make an impact in international diamond jewellery promotion.
DPA’s budget for this year is in excess of USD$57 million, up approximately tenfold from last year.
Pandya said the GJEPC had signed a memorandum of understanding with DPA this week, pledging to give $2 million to DPA this year.
At the news conference, Pandya said the GJEPC would track the success of DPA’s promotional campaigns by monitoring sales of Indian diamonds and diamond jewellery, tracking stocks in the country.
“If our stock diminishes, we will know it (DPA campaign) was a success,” Pandya said.