Exporters shift focus to domestic jewellery market
Jewellery
exporters are turning to the booming domestic market as exports face
headwinds due to the Russia-Ukraine and Israel-Hamas wars. Reflecting this
shift, the four-day Jaipur Jewellery Show (JJS), starting from
Dec 20, will host over 1,000 retailers in the country. Despite the slowdown in
export growth, the Dec show, as is known popularly, has become larger this year
with 1,200 booths, compared to 1,100 last year.
Rajiv Jain, honourary secretary of the show, said, "The burgeoning wedding
market is driving demand for gems and jewellery in the country." The
industry is getting organised. More and more jewellery retailers
are hitting the equity markets with IPOs. The shift in focus to domestic
markets is helping jewellery makers in Jaipur to ride out the slowdown in
exports."
Out of the 1,200 booths, 329 will display gemstones, 723 will
showcase jewellery, and 13 will feature costume jewellery and silver artefacts.
About 58 booths will be dedicated to tools and machinery used by the
manufacturers.
Ajay Kala, spokesperson of the show, said the event will showcase diamonds,
coloured stones, and silver, gold, and base metals-carving jewellery. It will
be attended by more than 8,000 hosted buyers and 50,000 domestic and
international visitors.
After
promoting emeralds for the past two years, the show has returned to ruby, known
for its rarity and royal status. The precious gemstone holds a special place in
Indian and international jewellery designs, said Kala.
JJS this year will also have three international exhibitors along with domestic
companies from Mumbai, Kolkata, Delhi, Bangalore, Hyderabad, and Ahmedabad,
including Jaipur.
Source: https://timesofindia.indiatimes.com/