Diamond World (DW) November- December 2020
Young & Resilient - 7 young diamantaires who are tiding through tough times & making the industry stronger | Gem & Jewellery Industry shine with Increase in exports | A Stellar Surprise Louis Vuitton's high jewellery collection. | 10th JJS IJ Award , Jonna Hary, Richa Singh (NDC) & much more
Young & Resilient - 7 young diamantaires who are tiding through tough times & making the industry stronger | Gem & Jewellery Industry shine with Increase in exports | A Stellar Surprise Louis Vuitton's high jewellery collection. | 10th JJS IJ Award , Jonna Hary, Richa Singh (NDC) & much more
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Special Feature<br />
actual sales.” Many businesses aren’t<br />
getting new clients. “We aren’t too<br />
comfortable with conducting business<br />
virtually. The first quarter of 2021 will<br />
be good,” explains Kotawala. While<br />
Viral Kothari of Kosha Fine Jewels,<br />
says, “The only hindrance we are facing<br />
is – delays in logistics. Customs is the<br />
biggest challenge. Shipments are not<br />
being released – the logistics is a big<br />
challenge. Uncertain flights schedule is<br />
affecting business adversely.”<br />
In case of smaller products however,<br />
demand is better than last years.<br />
“Export orders are good because we<br />
are into small ticket items. Month to<br />
month comparison reveals that we are<br />
at 120 per cent compared to last year.<br />
In Europe, USA and pan- India we<br />
are doing well. Eternity bands, circle<br />
of love, finger rings, are doing well.<br />
The New Year season has increased<br />
demand,” informs Kothari.<br />
Macro policies – Need of the<br />
Hour<br />
GJEPC maintains: The successful<br />
formulation of an e-commerce policy<br />
will herald the dawn of a new era for the<br />
Indian gem and jewellery industry. This<br />
move opens up a world of possibilities<br />
especially for MSMEs, as it will give<br />
them a level playing field to begin<br />
exports directly to global consumers.<br />
The move reflects the GJEPC’s allembracing<br />
and inclusive approach to<br />
push for progressive reforms that will<br />
help the industry achieve its longterm<br />
vision to become the epicentre for<br />
worldwide gems and jewellery needs.<br />
With a Central Government that is all<br />
geared up to facilitate e-commerce for<br />
the gem and jewellery industry, the<br />
sky’s the limit!<br />
“Policy change assures ease in<br />
doing business – it cannot guarantee<br />
a major escalation in profits. Business<br />
improves because of personal will and<br />
demand-supply equation,” explains<br />
Vipul Sutariya of Dharmanandan<br />
<strong>Diamond</strong>s Pvt Ltd. Indian government<br />
is supportive of the G & J business. All<br />
the same explains Sanjay Shah of Gold<br />
Getting our life back to normal is a long process. Business<br />
will improve gradually. It is a catch-22 situation – because<br />
every country will recover in terms of health, travel<br />
provisions, vaccine status etc at different times. As our<br />
business is more digital – sales has improved from July;<br />
probably by March 2021 we may procure good sales numbers<br />
Nilesh chhabria, Finestar Jewellery & <strong>Diamond</strong> Pvt, Ltd.<br />
52 | <strong>November</strong>-<strong>December</strong> <strong>2020</strong> | DiamonD WorlD