New Delhi, Jul 6 (UNI) Sparkling gems and jewels from India and abroad, including Dubai known for the purity of these products, are on display at 'JCK New Delhi 2008' at the sprawling Pragati Maidan here.
The 4-day fair which kicked off yesterday, targets the gems and jewellery industry, which is capitalising on the growing upper crust and middle class whose disposable incomes have been rising.
A famous Hollywood movie 'Diamonds are forever' ended, up making the commodity even more precious. The Indian housewives love for diamonds too is well known.
The exhibitors have capitalised on this lust for diamonds -- made in India or abroad. While the basic purpose of the fair is to target the industry segment, the overseas players are aware of the fact that the industry has been growing phenomenally, beating the nine per cent GDP growth.
The fact of the matter is that India is the largest consumer of gold jewellery and the third largest consumer of polished diamonds in the world. India contributes about 4 per cent of the global gems and jewellery market.
The JCK fair is the third business-to-business jewellery exhibition, which has built on its earlier successes. The exhibitors include jewellery manufacturers, wholesalers, exporters and retailers.
"JCK New Delhi is a platform of opportunities for the jewellery community and provides a conducive environment for them to grow, expand ad learn," says Mr Mandeep Singh, COO Reed Exhibitions, India. Reeds is the organiser of the JCK New Delhi show. It features more than 210 prominent exhibitors from national as well as the International league. International participants include those from Thailand, Dubai, Italy, Belgium, Turkey, Lebanon, United States and Japan.
Here are some interesting details about the gems and jewellery industry in India which give a glimpse of the reasons which account for the popularity of the fair; ----Multinational jewellery brands such as Tiffany, Cartier, Zales, Harry Winston and Bulgari are interested to come to India; ----FDI upto 51 per cent, which means majority control, in single brand retail stores relating to gems and jewellery is allowed by the Indian government; --- As a result the retail secenario in the country is booming, with companies such as Reliance Retail planning to make a big splash in the jewellery retail segment. This is to be done through its 400 to 500 jewellery retail outlets; ---Damas India part of one of the largest jewellery retail outlets in the world is also planning to add 16 new stores in the next couple of years; --- India's overseas sales of gems and jewellery represents the country's second largest export industry, after computer software and by 2015 it could be the largest.
-- The country exported about 20.9 billion dollars worth of gems and jewellery in 2007-08.
The show features a wide variety from each jewellery category like gemstones, gold, diamonds, fine jewellery, high Italian jewellery and CZ jewellery to cater to all the retailer's need.
The show also has a special Delhi Pavilion to showcase Delhi manufacturers and wholesalers.
The pavilions have been segmented for Gold and Fine Jewellery, Diamond and Fine jewellery, Gem stones and Gemstone Jewellery, Laboratories, Silver Jewellery and Holloware, Machinery and Tools, all for a focused exhibition browsing.
JCK New Delhi 2008 is backed by a number of powerful groups in the field, including Delhi Jewellers Association, World Gold Council and Gems and Jewellery Export Promotion Council (GJEPC).
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