SURAT: Diamantaires and jewellery manufacturers are eagerly waiting for the first major gems and jewellery trade event to be held in 2012 in Mumbai, considered an important indicator of how the diamond market will fare during the year.
The four-day India International Jewellery Show ( IIJS-Signature), organized by Gems and Jewellery Export Promotion Council (GJEPC), from January 6, is India’s top-of-the-line jewellery show showcasing the best jewellery collections by leading jewellery manufacturers in the country and abroad.
Official sources said about 409 leading jewellery companies from Surat, Mumbai, Jaipur, New Delhi, Bengaluru etc. and about 46 from countries like Israel, Belgium, Thailand and Turkey are participating in the show. Leading the pack of overseas participation is Israel, which has about 18 leading jewellery companies showcasing their jewellery brands at IIJS Signature.
The IIJS Signature will have overseas delegations from Bangladesh, Vietnam, Nepal, Uzbekistan, Dubai, Kuwait, Qatar, Pakistan, Russia and Turkey.
Sanjay Kothari, vice-chairman, GJEPC said, “IIJS Signature is the first gems and jewellery show in the world in 2012. It will be an indicator of how the diamond market will fare during the whole year. India’s jewellery manufacturing strengths are now established as a reliable and competitive source which retailers and consumers the world over have come to appreciate.”
India cuts and polishes 14 out of 15 diamonds set in jewellery worldwide. The total imports of rough diamonds in India last financial year was worth $11 billion and the export of cut and polished diamonds was valued at $28 billion. The April-November, 2011 exports of cut and polished diamonds stood at $16 billion with a growth of 0.13 per cent and the month to month export figures of diamonds showed a decline of 26 per cent in the month of November 2011.