CHENNAI, March 10, 2017 /PRNewswire/ --
A Mega B2B Gem and Jewellery Extravaganza by MJDMA and UBM India That Shines a Spotlight on Key Trends, and Industry Insights
Gem & Jewellery India International Exhibition (GJIIE) organized by Madras Jewellers Diamond Merchants Association (MJDMA) and UBM India, the nation's leading exhibition organizer, commenced its 13th edition today at the Chennai Trade Centre. Chief Guest Mr. KC Veeramani, Honourable Minister for Commercial Taxes and Registration and other key dignitaries Mr. Jayantilal Chalani, President, MJDMA, Mr. Rajesh Vummidi, Chairman, MJDMA - GJIIE, Mr. Rajendra Jain, Managing Director, Swarovski Gems, Mr. Yogesh Mudras, Managing Director, UBM India and Mr. Abhjit Mukherjee, Group Director, UBM India inaugurated the show amidst an august industry gathering.
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The three-day GJIIE (March 10th to 12th) is the second largest gems and jewellery B2B exhibition in India with participation of over 300 exhibitors that include wholesalers, retailers, importers and exporters, jewellery manufacturers, achinery manufacturers, diamond, gemstone, pearl suppliers and traders, precious metal and jewellery mounting traders and suppliers, and representatives from trade and governmental bodies. It is a gateway to the Indian jewellery market, with a special focus on South India's repertoire, and provides an excellent platform for buyers and suppliers to connect, network, exchange ideas, discover upcoming trends and generate business opportunities. The expo continues to attract well-reputed local and overseas buyers, reinforcing the expo's position as a proven and trusted sourcing hub for the industry. In addition to Tier I, II and III cities in India, the exhibition witnessed delegate representation from New York, Dubai, Singapore and Malaysia, thus substantiating the international reach and presence of GJIIE 2017.
At the fair, the exhibitors showcased an array of merchandise including diamonds, pearls, gemstones, studded jewellery, exquisite South Indian gold jewellery including Temple Nakshi Jewellery, Stone Studded Jewellery, and Bridal Jewellery such as Manga Malai, Kasu Mala and Pachhi Designs, to name a few. Latest machinery used in the manufacturing process and other related products and services were also on display.
Some of the notable exhibitors who participated at the exhibition this year include leading players from Hyderabad, Bangalore, Chennai, Coimbatore, Kolkata, Mumbai, Jaipur, Delhi, Ahmedabad, Surat and others. The exhibitor names include leading players like Mohanlal Jewellers Pvt. Ltd, Laxmi Jewellery Chennai Pvt. Ltd, Jai Gulab Dev Jewellers, JC Jewellers (Chennai) Pvt Ltd, Mukti gold, Krizz, Emerald Jewel Industry India Ltd, Unique Chain Pvt Ltd, White Fire Diamonds India Pvt Ltd, Prakash Gold Palace Pvt. Ltd, Vijay Gems & Jewellery, Grurukrupa Exports, Peeyar Manufacturers, Gitanjali Jewellery Retail Limited, Swarnshilp Chains & Jewellers Pvt Ltd, Chain N Chains, ORO, JKS Jewels, Anmol Swarn, Matushree Gold and Mehta Gold amongst others.
For the first time since its inception, GJIIE will conduct an All TN President & Secretary meet and GJF Zonal meet with key associations and apex bodies to discuss the key achievements and challenges of the trade in the state. With young consumers looking less at gold and jewellery as an asset class, and preferring understated, stylish and wearable pieces, the expo with its two day technical seminar by GIA will provide significant insights to those involved in the trade. The 'Gemmology and Spotlight on Synthetics' showcases the array of lab created stones that have similar appearance, as well as chemical, physical, and optical properties as natural ones. Besides, one day technical seminars by MSME and SBI on 'Schemes in Jewellery' and 'Metal Gold Loan' will afford significant options for those looking at trading in precious metals and stones. As the new global order in this sector is all about superior customer experience, and following sophisticated, international trends, the panel discussions on 'Innovative Thinking' and 'Jewellery Technology Transformation' by thought leaders on day 2 is bound to prove useful for new entrants in the industry.
The expo scores high on the visual and aspirational aspect too with an 'Innovative Zone' - a special gallery that is featuring at GJIIE for the first time showcasing unique designs. Besides, the 'Hall of Fame', an eye-catching display of miniatures made from precious metals and gem stones of famous originals is one of the talking points of the show, along with a 'Swarowski Gallery', that displayed its new collection of glittering crystals. A fashion show on the evening of day 2 will showcase astonishing pieces of jewellery, capturing the trends of the season which will be followed by a networking night for the exhibitors.
Speaking at the inauguration of the second largest jewellery expo of the country - GJIIE 2017, Mr. Yogesh Mudras, Managing Director, UBM India said, "The Indian Gems and Jewellery industry is one of the fastest growing segments in the Indian economy and is expected to grow at a Compound Annual Growth Rate (CAGR) of 15.95 per cent over the period 2014-2019. There are abundant opportunities in this vertical which is also export-oriented and labour intensive, deeming India the hub of the global jewellery market. Echoing the principles of demonetisation and GST, the jewellery sector is keen to bring in transparency with the majority of consumers opting for a digital mode of payment as well. It is extremely important that the community meets under one platform to discuss these changes, and create a core strategy to overcome the challenges that the changes may have brought about. As the second largest jewellery expo in the country, GJIIE takes pride in its role to provide this micro ecosystem for buyers and exhibitors, passionate about the craft of jewellery making, to bounce back."
"South India is deemed to be the hub for precious and semi precious studded jewellery, handmade jewellery, casting jewellery and lightweight gold jewellery. Through GJIIE, UBM India strives to provide an international trading platform enabling jewellery, diamond, pearl and gemstone suppliers to congregate, interact and network with key buyers, both local and international in the Southern region. It is poised to raise benchmarks and fuel trade for the jewellery industry in the region," he further added.
Speaking on the occasion of the 13th edition of GJIIE, Mr. Jayantilal Chalani, President, MJDMA said, "India is considered to be the centre of the global jewellery market due to its low costs and availability of high-skilled labour. The gems and jewellery market in India is home to more than 5,00,000 players, with the majority being small players. GJIIE is an initiative by the trade and for the trade. We are delighted to see that the expo has participation from the deep interiors of the country, including Tier II and Tier III towns."
"With the overwhelming response received during our last edition in October 2016, the forthcoming 13th edition of GJIIE is going to be a bigger affair with great business opportunities. As organizers, MJDMA and UBM India have always aimed at getting the best clientele to participate in GJIIE through constant promotions and great road shows held in major cities as well as in two tier and three tier cities," he added.
UBM has been an integral part of the jewellery industry for nearly three decades now, organizing similar renowned jewellery fairs worldwide. GJIIE is one of the four-city jewellery shows (Kolkata, Chennai, Hyderabad and Delhi) hosted throughout the year by UBM India.
Industry Reactions and Launches/Displays at GJIIE 2017:
Ankit Jain, Director,Matushree Gold LLP:
"The jewellery industry has evolved since demonetization and has brought about an ethical structure to the industry. We have been a part of GJIIE since 2014 and have seen the industry change and grow. This year we also see the same level of professionalism and industry experts at the exhibition. We are showcasing our NAKASHA collection and a unique BALAJI Statue."
Mukesh Kumar, Director,Prakash Gold Palace Pvt Ltd:
"We have been associated with GJIIE since the start and our expectation, in terms of visitors every year increases. The company has seen growth since its association with GJIIE in terms of business. People in India are adaptive to any kind of change; Demonetization is never going to stop buyer-seller business. Business may be slow for the year 2017, but we are sure it will kick off for 2018."
Karan Bothta, Director, White Fire Diamonds India Pvt Ltd:
"The Gem & Jewellery Industry has always been 'Sparkling'. We as a group contribute a lot to the economy and to the savings of a common man. The growth of this industry is well beyond what we can imagine through innovation, new marketing techniques and affordability. Through this platform, we wish to meet more owners of the organisations so as to share our views regarding the industry. We have launched our E catalog that showcases our ultra light-weight products, this E catalog is available to all our existing clients that contains over 4000 designs of diamond jewellery. Demonetisation is only a temporary thinking, as transactions get more transparent an individual will surely be rewarded for his hard work."
Prem Mehra, Managing Director,Unique Chain Pvt Ltd:
"We have been actively participating with GJIIE since 8 years. We have always received a positive response in terms of genuine buyers and are expecting the same this year as well. This year we are showcasing our unique designs through this platform."
Ravi Chandran, Director,CNB Diamonds:
"This is our 7th year of association with GJIIE and we are displaying our close setting diamond articles through the provided platform. We are looking at having an opportunity-oriented event and post the demonetization, we are looking at a new strong market."
Yogandra Prakash, Suman:
"We are excited to be a part of GJIIE for the 3rd year and our looking forward for a good experience. Every year we take this platform to showcase our unique designs to a growing market like India. We are very positive about the market post demonetization and look forward to a great networking opportunity."
Neeral Shobhawat, Director, Maharaja Chains:
"This is the first time we are participating with GJIIE. We are going to showcase various jewellery designs as per the new trends. We think demonetization is a great step taken by the Prime Minister and we are very happy with the decision. This will eradicate all the black money."
Vikaram Mehta, Proprietor,Mehta Gold & Diamonds:
"We have been participating at UBM India's GJIIE from past 5 successful years. With the help of the event, we have seen a tremendous growth in our business and new clients. We are displaying our unique KUNDAN NAKASHA collection this year. Demonetization is not going to affect the market in fact this is the best step taken."
Suresh Khatri, Director,Mohanlal Jewellers Pvt Ltd:
"We are proud participants at the GJIIE from past 7 years. GJIIE always mesmerizes us with their well organization of the event. This year we are showcasing latest jewellery designs according to the ongoing trends that include variations in bangles and chain collection. Market will not face major challenges due to demonetization."
Monil Pahuja, Executive Director,Damara Gold Pvt. Ltd:
"Gem and jewellery Industry is slowly gaining acceptance amongst the youth as a fashion statement and its growth is expected to be accelerated in the coming years. Every trade exhibition provides opportunity for interstate buyer and seller to come together and opens the window for exchanging views on emerging trends in the industry. Unfortunately, since we are always in the forefront of using latest technologies at our various plants, we strongly feel that Indian manufacturer will have to adopt technology as per leading European manufacturers to compete fruitfully in the international market. Demonetisation did affect the retail trade for some time as the Indian buyers are accustomed to use cash in the market for most of its requirements. However, digital initiative is slowly catching up with the average buyer and if the increased export of gold in the last quarter is any indication. The adverse effect is already wearing off."
About UBM India
UBM India is India's leading exhibition organizer that provides the industry with platforms that bring together buyers and sellers from around the world, through a portfolio of exhibitions, content led conferences & seminars. UBM India hosts over 25 large scale exhibitions and 40 conferences across the country every year; thereby enabling trade across multiple industry verticals. A UBM Asia Company, UBM India has offices across Mumbai, New Delhi, Bangalore and Chennai. UBM Asia is owned by UBM plc which is listed on the London Stock Exchange. UBM Asia is the leading exhibition organizer in Asia and the biggest commercial organizer in mainland China, India and Malaysia.
For further details, please visit ubmindia.in.
About UBM plc
UBM plc is the largest pure-play B2B Events organiser in the world. In an increasingly digital world, the value of connecting on a meaningful, human level has never been more important. At UBM, our deep knowledge and passion for the industry sectors we serve allow us to create valuable experiences where people can succeed. At our events people build relationships, close deals and grow their businesses. Our 3,750+ people, based in more than 20 countries, serve more than 50 different sectors - from fashion to pharmaceutical ingredients. These global networks, skilled, passionate people and market-leading events provide exciting opportunities for business people to achieve their ambitions.
For more information, go to www.ubm.com
Media contact:
Mili Lalwani
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UBM India
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