The Hindu Business Line : Jewellers body ties up with Japanese expo organiser

To attract overseas jewellery manufacturers and retailers to India, The Madras Jewellery and Diamond Merchants’ Association has entered into a tie-up with CMP Business Media Company, a Japan-based trade show organiser, specialising in jewellery trade shows, to organise the Gem and Jewellery India International Exhibition (GJIIE) 2009.

The tie-up is aimed at positioning Chennai as the jewellery hub of the world — for manufacturing, retailing and trade. India is the largest gold consumer in the world with about 900 tonnes being consumed last year in addition to 200 tonnes of gold recycled (old jewellery being exchanged for new or asked to be made into new designs). South India accounted for 40 per cent of this consumption.

“This is an opportunity for global retailers and manufacturers to set up shop in India,” said Mr Uday Kumar Vummidi, Chairman, GJIIE, said at a press conference after unveiling a new logo for the event.

Henceforth, the GJIIE, an annual event, will feature in the CMP’s group international exhibit calendar that goes out to nearly all jewellery associations in the world. This year, the event saw 150 exhibitors and over 1,000 trade visitors.

business volume

Despite high gold prices, volume of business (trade enquiries and registrations) did not dip and customers, in fact, opted for high quality gold, Mr Vummidi said, adding that it was difficult to determine what value of gold was sold during and after the event.

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