Diamond World (DW) November- December 2020

Special Feature
Export orders are good because we are into small ticket
items. Month on 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.
Viral Kothari, Kosha Fine Jewels
Shows must go on
Explains Kotawala, “When we used
to have physical shows, we were able
to display our high-end diamond
jewellery -- clients used to examine
fine jewellery and place orders. That
kind of thing is missing at present. We
are supplying to local stores in North
India, as markets are opening.” The
situation has improved over the last
nine months, but there is surely more
scope for improvement. Not many are
comfortable buying high-end diamonds
over the internet or even after seeing
it over Whatsapp etc,” informs Nilesh
Chhabria, Finestar. The upcoming
show which is scheduled in Vegas
in June also may get postponed. “As
our business is more digital – sales
has improved from July; probably by
March 2021 we may procure good sales
numbers,” surmises Chhabria.
As exhibitions are cancelled
many diamond exporters 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 goods
over the internet – that is a cause for
concern. But currently, nothing can be
done about it. “So we are adjusting in
the best way we can. We have to reach
out to our clients over the internet,”
explains Sanjay Shah.
Going the e-route
Considering the exponential growth
in online sales during the pandemic,
GJEPC has been relentlessly pursuing
for an e-Commerce policy with
Department for Promotion of Industry
and Internal Trade (DPIIT) and the
Ministry of Commerce & Industry
(MoC&I), and officials across various
Government departments.
A revamped e-commerce policy will
help thousands of manufacturers and
lakhs of retailers across the 390 G & J
clusters in India to utilise e-commerce
platforms and reach out directly to
overseas consumers. The exponential
growth in online sales during the
pandemic makes this all the more
important and time-sensitive for this
trade to benefit from this shift to digital
platforms.
The GJPEC is expecting a
comprehensive e-commerce policy
that will encompass ease in processes,
hassle-free returns, seamless payments,
speed of delivery, minimal cost, etc.The
Department of Revenue has recently
clarified through a notification dated
27th Nov 2020 that exports of gem and
jewellery is permitted in Courier mode
under the provisions of Courier import
and exports (Clearance) Regulations
1998 and Courier Imports and Exports
(Electronic Data & Processing)
Regulations 2010.
All the same, year 2021 is predicted
to begin bullishly across the world and
especially bodes well for the diamond
export business in India.
54 | November-December 2020 | DiamonD WorlD