GJEPC inaugurated the first-ever Diamond Studded Jewellery VBSM in the presence of Chief Guest Shri Suresh Kumar, Joint Secretary, MOC&I along with Shri Colin Shah, Chairman, GJEPC; Shri Dilip Shah, Convener, International Exhibitions; Shri Sabyasachi Ray, ED, GJEPC among others through a virtual conference.
The VBSMs have been a successful ongoing series initiated by the Council and this platform has unlocked manifold opportunities by reaching out to buyers from not only the traditionally strong export markets like the USA, UK, Europe , ME and Hong Kong/China, but also non-traditional ones such as Latin America, Eastern Europe and many more.
Suresh Kumar, Joint Secretary, Department of Commerce, Ministry of Commerce & Industry, said, “Although gem and jewellery sector has taken a severe beating during this pandemic, in the last couple of months, we have witnessed lots of up shoots. Compared to September, the trade has increased 125% in October. With the line-up of festivities in November, we will see a further increase in business in the last two quarters. Global travel may be impacted till mid-2021 and virtual platforms would be one way to create more business opportunities and ensure that business does not suffer.”
Colin Shah, Chairman, GJEPC, noted, “Even during the pandemic, diamonds and diamond jewellery have remained the ultimate symbols of love and have outperformed other luxury categories. Revenge shopping by consumers across key markets have proved advantageous for the category. The imminent promise of a vaccine bodes well for our industry and we will enter 2021 on a high note of optimism.”
The Diamond Studded Jewellery VBSM is attended by 20 international buyers from the UK, Russia-CIS, Middle East, Latin America, Australia, Ireland, Spain, Lebanon, Brazil, Colombia, Ecuador, and Kuwait. The buyers will get to meet 10 leading exhibitors from India – Savio Jewellery, Jaipur; Fine Jewellery Manufacturing Ltd., Mumbai; Shankar Jewels Ltd., Mumbai; K P Sanghvi International Pvt. Ltd., Mumbai; Kama-Schachter Jewelry Pvt. Ltd., Mumbai; Tanvirkumar & Co., Mumbai; Elvee Jewels Private Ltd., Surat; GNS Jewellery, Surat; Uni Design Jewellery Pvt. Ltd., Mumbai; and Priority Jewels, Mumbai.
Dilip Shah, Convener, Exhibitions (International), GJEPC, noted that the Council has been able to mitigate the impact of pandemic on gem and jewellery exports by organising product-specific VBSMs. “These virtual platforms have definitely helped in recovery of exports to an extent, if not completely to the pre-Covid level.
“As a next step, to boost the business from the sector, we are organising International Gem & Jewellery Show (e-IGJS), an exclusive export-oriented show for international buyers. This will be held from 18th to 22nd January 2021. The registration for the show has already started and buyers are showing great interest. We require you continued support to make e-IGJS a grand success.”