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
Special Feature actual sales.” Many businesses aren’t getting new clients. “We aren’t too comfortable with conducting business virtually. The first quarter of 2021 will be good,” explains Kotawala. While Viral Kothari of Kosha Fine Jewels, says, “The only hindrance we are facing is – delays in logistics. Customs is the biggest challenge. Shipments are not being released – the logistics is a big challenge. Uncertain flights schedule is affecting business adversely.” In case of smaller products however, demand is better than last years. “Export orders are good because we are into small ticket items. Month to month comparison reveals that we are at 120 per cent compared to last year. In Europe, USA and pan- India we are doing well. Eternity bands, circle of love, finger rings, are doing well. The New Year season has increased demand,” informs Kothari. Macro policies – Need of the Hour GJEPC maintains: The successful formulation of an e-commerce policy will herald the dawn of a new era for the Indian gem and jewellery industry. This move opens up a world of possibilities especially for MSMEs, as it will give them a level playing field to begin exports directly to global consumers. The move reflects the GJEPC’s allembracing and inclusive approach to push for progressive reforms that will help the industry achieve its longterm vision to become the epicentre for worldwide gems and jewellery needs. With a Central Government that is all geared up to facilitate e-commerce for the gem and jewellery industry, the sky’s the limit! “Policy change assures ease in doing business – it cannot guarantee a major escalation in profits. Business improves because of personal will and demand-supply equation,” explains Vipul Sutariya of Dharmanandan Diamonds Pvt Ltd. Indian government is supportive of the G & J business. All the same explains Sanjay Shah of Gold Getting our life back to normal is a long process. Business will improve gradually. It is a catch-22 situation – because every country will recover in terms of health, travel provisions, vaccine status etc at different times. As our business is more digital – sales has improved from July; probably by March 2021 we may procure good sales numbers Nilesh chhabria, Finestar Jewellery & Diamond Pvt, Ltd. 52 | November-December 2020 | DiamonD WorlD
Special Feature Star Jewellery Pvt. Ltd.,“Export orders are coming from the USA. Internet is surely a way out – but real business takes place in real time and that is something that cannot be done during this crisis time, so we have to wait and make do with whatever we have.” At the same time, efforts of GJEPC are surely important for welfare of G&J business: Gem & Jewellery Export Promotion Council (GJEPC), in the past few years, has been actively pursuing projects and policies that could lead to a manifold increase in India’s outbound gem and jewellery trade. Aligning with the Prime Minister Shri Narendra Modi’s vision of making the smallest of towns and villages active participants in the country’s export efforts, the Council undertook a Herculean data-driven approach to identify areas that are actively engaged in the manufacture of gems and jewellery. Taking the cue from PM’s vision, in 2019, the GJEPC commissioned the National Council of Applied Economic Research (NCAER) to evaluate these key industry characteristics, its competitiveness, and its employment potential. The pioneering Cluster Mapping study has identified 390 districts as gem and jewellery clusters. It also provides crucial data on the region-specific specialisations in gem and jewellery categories, the skills and technology used, supply chains, and contribution to the economy. The Council is now focused on transforming each of these clusters into self-actualised export hubs. As exhibitions are cancelled we are facing difficulties in conducting business. People want to examine jewellery closely in real time, they would not want to place large orders for high-end jewellery over the internet – that is a cause for concern Sanjay Shah, Gold Star Jewellery Pvt. Ltd. Overall business is improving.Demand from American market is improving as they have ample of money which is unspent because of the global lockdown. Plus their stimulus package is good – so they have surplus funds – which they want to invest in jewellery Vipul Sutariya, Dharmanandan Diamonds Pvt Ltd DiamonD WorlD | November-December 2020 | 53
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- Page 36 and 37: Cover Story Ankit Shah, Director, A
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- Page 48 and 49: Special Feature Treasures from the
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Special Feature<br />
Star Jewellery Pvt. Ltd.,“Export orders<br />
are coming from the USA. Internet is<br />
surely a way out – but real business<br />
takes place in real time and that is<br />
something that cannot be done during<br />
this crisis time, so we have to wait and<br />
make do with whatever we have.”<br />
At the same time, efforts of GJEPC<br />
are surely important for welfare of G&J<br />
business: Gem & Jewellery Export<br />
Promotion Council (GJEPC), in the past<br />
few years, has been actively pursuing<br />
projects and policies that could lead to<br />
a manifold increase in India’s outbound<br />
gem and jewellery trade.<br />
Aligning with the Prime Minister<br />
Shri Narendra Modi’s vision of making<br />
the smallest of towns and villages<br />
active participants in the country’s<br />
export efforts, the Council undertook<br />
a Herculean data-driven approach to<br />
identify areas that are actively engaged<br />
in the manufacture of gems and<br />
jewellery.<br />
Taking the cue from PM’s vision, in<br />
2019, the GJEPC commissioned the<br />
National Council of Applied Economic<br />
Research (NCAER) to evaluate these<br />
key industry characteristics, its<br />
competitiveness, and its employment<br />
potential.<br />
The pioneering Cluster Mapping<br />
study has identified 390 districts as gem<br />
and jewellery clusters. It also provides<br />
crucial data on the region-specific<br />
specialisations in gem and jewellery<br />
categories, the skills and technology<br />
used, supply chains, and contribution<br />
to the economy. The Council is now<br />
focused on transforming each of these<br />
clusters into self-actualised export<br />
hubs.<br />
As exhibitions are<br />
cancelled we are<br />
facing difficulties in<br />
conducting business.<br />
People want to<br />
examine jewellery<br />
closely in real time,<br />
they would not want<br />
to place large orders<br />
for high-end jewellery<br />
over the internet – that<br />
is a cause for concern<br />
Sanjay Shah,<br />
Gold Star Jewellery<br />
Pvt. Ltd.<br />
Overall business is improving.Demand from American<br />
market is improving as they have ample of money which is<br />
unspent because of the global lockdown. Plus their stimulus<br />
package is good – so they have surplus funds – which they<br />
want to invest in jewellery<br />
Vipul Sutariya, Dharmanandan <strong>Diamond</strong>s Pvt Ltd<br />
DiamonD WorlD | <strong>November</strong>-<strong>December</strong> <strong>2020</strong> | 53
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