Lanka to participate in Chennai gem show

Shirajiv SIRIMANE

"The southern market has shown a continuous growth of between 5 to 7 per cent year on year

Sri Lanka has been invited to participate in the Gem and Jewellery India International Exhibition (GJIIE) which will be held from February 8 to 10 in Chennai for the first time Secretary of GJIIE, Sultan Mohideen said Sri Lanka is an important market and this was the reason they decided to make a direct representation.

The visiting Indian Gem and Jewellery sector delegation lead by Secretary, Sultan, Chairman, Uday Kumar, other members being welcomed by Acting Director General, National Gem and Jewellery Authority, Ajith Perera with FACTS Chairman, Macky Hassim at the special event held on Wednesday. Picture by Saliya Rupasinghe

"India also want to have hub status in the region and we want all countries, represented," he said. The event is organised by the Madrass Jewellers and Diamond Merchants Association and United Business Media.

With India being the largest consumer of gold jewellery in the world, industry estimates peg the demand for diamonds, gemstones and gold jewellery to reach US$20 billion by 2010. This increase in the purchasing power of the Indian consumer has resulted in positive lifestyle changes and a growing need for luxury products.

The Southern States of India have always been famous for their passion for gold. Gold is more than just a precious metal or accessory and has deep cultural and traditional roots. Also, it is still seen as the best investment option in the South.

According to recent Industry estimates, 45 per cent of the 691 tonnes of gold that went into the Indian market was snapped up by the southern Indian states of Tamil Nadu, Kerala, Andhra Pradesh and Karnataka. "The southern market has shown a continuous growth of between 5 to 7 per cent year on year in plain gold jewellery, despite volatile prices," said Uday Kumar Vummidi, Vice President of the Madrass Jewellers and Diamond Merchants Association (MJDMA). The fifth GJIIE 2009 will be a unique experience for the jewellery industry in Southern India, as it will bring together high-quality, original designs and high value for discerning selected trade customers and VIP collectors who appreciate the finesse of fine jewellery, diamonds, gems and pearls.

This will be possible jointly with the advantage of CMP Asia's database of buyers and intensive global promotion in key trade shows and publications, and the strength of more than 40,000 retial jewellers spread across the four southern states that the MJDMA and Tamil Nadu Gold federation have access to.

With this combination, the event aims to draw a huge number of potential targets.

The exhibitor profile will include fine finished gold jewellery, gemstones, diamonds, silver jewellery as also machinery and equipment, packaging and display and ancillary service providers.

Visitors will include jewellery wholesalers, retailers, exporters, importers, jewellery manufacturers, allied products and service providers as well international sourcing delegates.

More details could be obtained from Krantin@ubmindia.com