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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

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