IIJS Will Revive Fortunes

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1 DAY 2 7 th August, 2015 WHAT S ON TODAY Seminar: (Mezzanine, Hall 1) Time:11.00 am pm Topic: Opportunities In The Middle East Market Time: pm pm Topic: Leverage Your Experience In The USA Market Time: 2.00 pm pm Topic: Single To Multi Store Time: 3.30 pm pm Topic: Structuring Family Business For Future Expansion Paul Rowley, Siddharth, Rita Teaotia and Vipul Shah at the inauguration. India International Jewellery Show IIJS Will Revive Fortunes The promising start to the 32nd edition of the India International Jewellery Show (IIJS) reflected the industry s optimistic medium- to long-term outlook for gems and jewellery. A sizeable stream of visitors on the first day is an indication that the IIJS will stimulate demand for the upcoming festive and wedding season. The show was inaugurated by chief guest Rita Teaotia, commerce secretary, ministry of commerce and industry; the guest of honour Paul Rowley, executive vice president, De Beers, Global Sightholder Sales; and Vipul Shah, chairman, IIJS. Shah said, The Indian gem and jewellery industry has seen a slow growth in the last few months, especially in terms of exports. However, with the GJEPC s efforts such as the IIJS, IIJW and buyer-seller meets, we are optimistic that business sentiments will gradually pick up towards the festive season and the outlook will be positive for the international and domestic retailers. We do not anticipate any major growth curves in the next few months but we can safely predict a stable outlook for the Indian gem and jewellery industry. We believe in a long-term perspective and the IIJS will provide the industry with the much needed vigour and positivity to gear up for better times ahead. (Continued on page 2)

2 (Continued from page 1) The dignitaries releasing the show catalogue. The registration counters are packed with visitors. The show crossed the 1,000 mark in terms of exhibitors for the first time this year, a growth of 25% over the previous year, alongside an 11% increase in the number of booths, at 2,000. Of the 175 first-time exhibitors, some 50 deal in studded jewellery, around 70 in plain gold jewellery, and 50 in loose stones. In her speech, Teaotia shared some insights and commented on the industry s demands from the government: There has been continued support to the gem and jewellery industry, and the Government of India has been a strong partner to the industry. The implementation of the Kimberley Process reaffirms the commitment to all processes defined globally for the industry. The sector should work with financial institutions to build confidence and conduct genuine business to safeguard the industry s image. The Government of India moved very quickly on the Special Notified Zone demand of the gem and jewellery sector and the execution is already underway. The government further hopes to announce reasonable and rationale taxation norms for the industry in due course of time. The eightdigit code for synthetics and the interest subvention demands are being looked into. Rowley said the industry s fortunes were interconnected and the impact of the difficulties in the diamond pipeline was felt by the wider mid-stream sector as well as De Beers sightholders. We re now approaching the point in the annual season, when consumer demand reaches its peak, and we all have a role to play in getting things moving again in a much quicker, responsive and sustainable way. A steady and sustained industry will only take hold if we all take the right actions. We therefore need to protect the integrity of our natural diamond pipelines, we must continue to focus on operational efficiency, and we have to keep building strong distribution outlets for ourselves. The IIJS provides the ideal platform for Indian companies to do precisely this. It brings the whole Indian diamond trade together and enables us to rebuild for the coming months and years. This is crucial because while Indian diamond businesses played a major role in the industry s history, we expect them to play a greater role in its future. India provides the heartbeat of the modern diamond world. The ability to maintain consumer confidence, the ability to innovate and grow diamond value will play a central role in reviving the fortunes of the diamond industry. GJEPC executive director Sabyasachi Ray added, We have more than 30,000 visitors who have registered from 800 cities from all across India. We also have more than 1,750 international visitors from 80 countries who have already registered. The IIJS represents the aspiration of the industry. And with business throughout the world not doing well, everyone is looking at the IIJS to see how demand picks up. If this show does well, the entire festive season for the industry will be good. VISITOR VOICES YOGESH SONI, CNF, PRUTHVI DIAMOND CREATION, GUJARAT We have been in the business of wholesaling diamond jewellery for the last 50 years and only last year, we founded our B2B brand Pruthvi Diamond Creation. I have been visiting the IIJS since the past 10 years. This time, I am looking to source loose diamonds ranging from -2 cents to 7 carats and will visit the machinery section. We make 18-karat diamond jewellery and our hottest selling items are nose pins starting from Rs.2,500 and rings beginning from Rs.8,000. We have realised that entrylevel buyers of diamond jewellery prefer buying pret wear and that is our target audience. We mainly cater to northern Gujarat where customers prefer FG, VVs type diamonds, and southern India that prefers EF and VVS diamonds. KUMAR JAIN, VICE PRESIDENT, MUMBAI JEWELLERS ASSOCIATION In the last two weeks, when gold touched the 2010 level of Rs.25,000 per 10 grams in India, we witnessed intense buying activity in Zaveri Bazaar, Mumbai. The sentiment is positive and I can already witness a lot of buzz on the show floor. I m sure that IIJS will be great for studded gold jewellery enhanced with villandis, polkis, and gemstones. IIJS is one platform that helps everyone connect and have a holistic view of the industry. SEMINARS Technology An Enabler And Leveller The IIJS seminars started off with a panel discussion moderated by Binit Bhatt, COO of the Gem & Jewellery Skill Council of India (GJSCI). The panellists focussed on the indispensable role of technology in the learning process. The panellists included Dr. Farida Virani, head of department at MET Institute of Management, Mumbai; Dr. Nilay Yajnik; Dr. Prashant Deshpande, vice president HR & Planning at Reliance Industries; and Ambarish Datta, executive director, BFSI Sector Skill Council of India. Yajnik talked of his personal experiences in the education field, both as a student and a lecturer, and of how technology has advanced and facilitated the process of learning, exposure and interaction. 2 Datta gave an enlightening talk on how to deal with technology and globalisation as real life disruptions. Technology has now enabled a small-town firm to compete with wellestablished businesses. Technology is a great enabler as well as a leveller, he remarked. Deshpande expounded on the special role that technology plays in the gems and jewellery industry, with special focus on 3D printing and robotics. Digitisation is merely a tool. What is important is the urge to acquire knowledge, he observed. Virani expressed her views on the problem of information overload and the credibility of online sources and mentors. The seminar gave an all-round look at innovative learning platforms and mediums and the need for technology in education today.

3 EXHIBITOR VOICE Gem Cuts & Carvings High On Popularity Charts Marsala Shades The colour trends are currently revolving around the Pantone Color Of The Year 2015, marsala. Dhandia said gemstones with soft pinks and orange tones are in vogue. In the semi-precious segment, tanzanites have been doing well and opals are moving really fast in the export section. However, these trends are not very stable and are bound to change with the fashion cycle, he cautioned. According to Dhandia, the Indian market is restabilising and the traditional Indian customer is gradually warming up to coloured stones for their sheer versatility and uniqueness. And this change in attitude is opening up new doors for gemstone traders. Making the Cut Rare Gems IIJS is looking to be very colourful this time with a psychedelic collection of vivid hued gems on show. We talked to some of the exhibitors who gave us their expert insights on the vibrant showstoppers of the jewel world and a trend forecast for the year. Anil Punjabi of Tahilram Tirthdas Jewellers is optimistic about his collection for the show. According to him, the three giants of the gem world, emeralds, sapphires and rubies continue to do well. Other than that, white sapphires are also performing very well. A surprising fact is that they are even outshining the traditional favourite, blue sapphires. Tanzanites have also risen in the popularity circuit. Rose cuts are extremely popular now and I expect to see good business in rose-cut stones, he said. Tahilram Tirthdas is showcasing a melange of stones in various cuts and carvings ranging from Rs.700 to Rs.2,500 per carat, and also exhibiting a wide variety of designer carved stones. Navin Shah of Rare Gems is concentrating on the big three gems only, but added, We are also displaying tanzanites, tourmalines and other semi-precious stones. The market for tanzanites and other semi-precious stones is quite volatile and hinges on trend directions. However, the demand for the other three gems has always been quite stable. The average price points of Rare Gems are around Rs.2,000 to Rs.10,000 per carat. Shah is optimistic and added, The market has been in a bad shape after the 2008 recession, but I believe with a little more hard work anyone can make it. Manoj Dhandia of Dhandia Gems is concentrating on the verdant emerald for IIJS We are also showcasing rubies and sapphires and a wide range of semiprecious stones, but these are not our main focus for the show. The price range we are focussing on for emeralds is around Rs.3,000 to Rs.60,000 per carat. However, we are exhibiting emeralds from as low as Rs.100 per carat, he said. Gemstone cuts are another factor that most customers consider, and Dhandia believes in giving as many options in cuts as possible. Emeralds are usually preferred in traditional cuts like octagons and ovals and I expect these cuts to move well at the show, he revealed. Apart from multifaceted cuts, Dhandia Gems is also showcasing intricately carved gemstones that pair well with kundan and other traditional jewellery. This has been a year of expansion for Dhandia Gems and I believe IIJS will take us forward. We have forayed into the handmade gold sector and have also launched an online company Incocu for young women, featuring edgy, design-oriented pieces. We are intent on covering new territory with IIJS, said Dhandia. Taking a stand away from the established trinity of gems, RMC Gems is concentrating on tourmalines and other coloured stones. I have noticed that rubellites, tourmalines and blue topaz are doing very well. Morganites enjoy a huge demand abroad and our exports are flourishing, revealed Nirmal Kumar Bardiya, director of RMC Gems. RMC gemstones range from Rs.200 to Rs.5,000 per carat and Bardiya has high hopes for IIJS Sushil Kumar Soni of Shwet Ratan Impex has been seeing good demand for emeralds and South Sea pearls. We deal in emeralds, South Sea pearls and other coloured stones and we also have a wide variety of stones. We specialise in all the basic cuts like rounds, ovals, brilliants, etc. We also export abroad and have good expectations for IIJS 2015 in spite of the market slowdown, he said. Despite the bearish market, an invigorating spirit of optimism is clearly felt among the IIJS participants. The colour gemstone market is prepared to grow and establish itself in the coming years and the IIJS is definitely a step ahead for these colour crusaders. Dhandia Gems World Diamond Mark The World Diamond Mark Foundation is the non-profit organisation that leads the worldwide generic promotion of diamonds, stressing desirability and trust to end-consumers. Founded by the World Federation of Diamond Bourses (WFDB), it actively engages all other players and sectors in the diamond and jewellery industry from miners to retailers. The GJEPC is actively involved in the World Diamond Mark since its interception. REGULARS ELITE CLUB The Elite Club offers selected retailers privileged hospitality at IIJS. There are mezzanine lounges at different locations, where members can enjoy a quiet moment and try out some refreshments. BUSINESS CENTRE The Business Centre in Hall 1 is equipped with internet access, meeting rooms, conference rooms, photocopying and fax services. The facilities can be availed of on a chargeable basis. CAFETERIAS The mouth-watering vegetarian fare at IIJS is provided 4 by Popular Hospitality, Cream Centre and Lakhani. The cafeterias are in Halls 2, 3 and 6. COFFEE SHOPS Get your daily caffeine fix at the coffee shops operated by Costa Coffee, Barista Lavazza and Subway Sandwiches spread across all the halls. SHUTTLE BUS SERVICE A complimentary Shuttle Bus Service to and from the exhibition centre is available for exhibitors who are also resident guests at the official hotels (Grand Hyatt, Sofitel, Renaissance, The Leela, Hyatt Regency, The Lalit, Courtyard Marriott, JW Marriott Sahar). Visitors can use the complimentary Shuttle Bus Service between Goregaon Railway Station and the exhibition centre, at Gate 2. IIJS Mobile App Scan the QR code for the latest news from the show floor.

4 STORYBOARD The IIJS Is An Important Show For Us And We Will Rock It!: Anju Jain Exquisite Color Kraft Pvt. Ltd., a Jaipur-based company, deals in special gemstone cuts and produces designer colour stone jewellery. Co-founders AJAY and ANJU JAIN reveal the new lines they are presenting at the IIJS this year. Since when have you been participating at IIJS? Exquisite Color Kraft has been part of the IIJS since the last eight years. IIJS is the most happening and high-profile event in the jewellery business sector in India. It gives us an ideal platform to showcase our new collections each year. The presence of domestic and international buyers makes this show a grand success. IIJS has provided us the right exposure to both the markets. What are you going to showcase at the show this time? This year we are launching Artistry, Art Carved, Blossom and Tassels collections. The Art Carved line is a limited edition collection comprising statement necklaces in carved emeralds, tanzanites and tourmalines. The pieces are classic and accented with diamonds and Australian South Sea pearls. The highpoint of this collection is the ornate carving of gemstones. It is priced from Rs.2,00,000 to Rs.10,00,000. The Artistry collection features cabochon opals juxtaposed with emeralds and tanzanites. Sautoirs and tasselled earrings are the highlights of the collection. Blossom, as the name suggests, is a line inspired by floral motifs and comprises cabochon gems in rose quartz, blue topaz and pink amethyst garnished with diamonds and sapphire rose cuts. The price range of most of these collections varies from Rs.1,00,000 to Rs.5,00,000. We are confident about all our new collections this year. Although the markets are sluggish, there is always a demand for different and unique things. The IIJS is an important show for us and we will rock it! These days educated and aware customers do not want huge pieces of jewellery to store in the lockers. Instead, the contemporary shopper wants baubles for daily wear. How is the Indian market faring currently? Compared to international markets, India is still vibrant as the demand for bridal jewellery has stayed constant. We are also currently exporting to the UAE, Qatar, USA, Hong Kong and UK. What, according to you, is trending these days? Sautoir necklaces with huge central motifs and rich, delectable gemstones will rule the fine jewellery sector this year. Also, tassel necklaces and earrings will make a comeback in the Art Deco style. Innovations Keep Us Ahead AMISH KOTHARI, director, Rosentiques tells us about the new polki, diamond and platinum jewellery lines that will be unveiled at IIJS Tell us more about Rosentiques, your B2B brand. Currently, we are the only company offering polki, diamond and platinum jewellery under one roof. We strive to offer quality and innovative designs to our customers. Since its inception, Rosentiques and Yunysha have carved a niche in the Indian jewellery market. Today, we have a pan-india presence and we have even gone global and do business in the Gulf countries. We are continuously looking to expand our product range and bring new designs in the market. Since how long have you been participating in IIJS? Has the show helped you grow your business? It s been over a decade since we got associated with the IIJS. It is one of the world s biggest platforms to showcase Indian jewellery and it is also a trendsetter because exhibitors present new collections at the show. There s a 6 huge turnout of buyers, and from the business perspective, we get an opportunity to meet many prospective clients from all over the country. It is also the perfect time to gauge market sentiments and to get some feedback about our brand. What collections will you be launching at IIJS? We will be showcasing something new in all the three categories polki, diamond and platinum jewellery. We create mid- to high-end jewellery and the lines consist of rings, earrings, pendants, bracelets, necklaces and more. We generally use rose-cut and brilliant-cut diamonds, colour stones and pearls. We are presenting a collection using gold texture, solitaire jacket rings and earrings set with fancy-shaped diamonds. The collection is targeted at retailers, who cater to ethnic and upper-class customers, who have a disposable income and desire something exclusive. What are your expectations from the show this year? Over a period of time, the IIJS has witnessed a steady growth and we all have reaped benefits. This time, we are housed in a bigger stall, thus allowing us to display our entire range and, in turn, we expect more walk-ins. Have you done any research on what consumers want these days? Yes, every year we try to innovate and bring new designs that are in line with the market trends. We give importance to client/customer feedback, and extensive travelling through the country helps us understand the pulse of the market. We also have a competent team of designers who constantly keep innovating.

5 I N T E R V I E W O F T H E D AY Good Response To GJEPC s Swasthya Ratna Scheme awareness drive in Surat. We are on the brink of tying up with several companies. So far we have insured over 5,000 families. There are many companies that have a strength of 500 to 800 employees. By the year end, we hope to cross 25,000 families, so in other words, over 1 lakh people. In which states is the scheme currently implemented? Any expansion plans? In the five months since its launch, Swasthya Ratna, the group mediclaim initiative of the Gem & Jewellery Export Promotion Council (GJEPC) has witnessed growing interest from trade members. NIRAV BHANSALI of the GJEPC tells Solitaire about the roadmap for the second half of How has the gem and jewellery industry responded to the Swasthya Ratna group health insurance scheme that the GJEPC launched on March 1st this year? In terms of potentials, the industry has responded well. We have been tapping manufacturers in Mumbai since the last 4-5 months, and we have just begun our We will soon open this scheme to all the members of the GJEPC. As for the other states, we have not yet started a door-to-door campaign. The extensive education programme has started with small-sized companies who have a staff strength of 10 to 30 people. We are also creating awareness through ers, seminars, and the GJEPC website. We also use trade shows as a medium to educate the members about the schemes available. Even though we have not been able to achieve in-house targets, the positivity is good and we will cross the mark soon. The eight health plans currently have a maximum coverage of Rs.1 lakh. Given the rising costs of healthcare, where even basic surgery can cost anywhere near Rs.2 lakh, would you consider increasing the coverage amount in the future? Of course, there are companies that prefer to give coverage of Rs.2 lakh. In that case, the GJEPC will pay the premium of 25% only on the Rs.1lakh amount. The rest has to be borne by the participating company. Surprisingly, we have got a lot of queries for the Rs.2 lakh coverage scheme, especially for the executive class in companies. How many claims were filed and successfully reimbursed since its launch? The first claim was passed and reimbursed only last month. Edelweiss Insurance Brokers Pvt. Ltd., the GJEPC s partners in this scheme, aim to regularly update the website on the number of reimbursed settlements to bring in transparency. In an earlier interview, you mentioned that you would like the state and central governments to be a part of this scheme. Have they provided any financial support to this initiative? We have not approached the government. The GJEPC has limited financial resources and in the long run, once we achieve our targets, we will approach about 500 top companies with a request to contribute to a corpus to subsidise the premiums. What percentage of the entire gem and jewellery industry currently has health and accident insurance? I don t have an idea, but a number of companies in the diamond industry already offer coverage to their employees. In my own company, we have covered 400 employees, but at a higher premium. The coverage policy will soon expire and then I will enrol with the GJEPC policy. We cannot make health coverage a mandatory issue, but definitely we are encouraging companies to adopt such staff-friendly policies.

6 B R A N D W AT C H Classy Elegance Designer Jewels presents an exclusive traditional lightweight jewellery collection this IIJS. The exquisite antique and kundan pieces that weigh between 40 grams and 120 grams and studded with coloured stones and South Sea pearls encapsulate classic elegance. The intricately crafted gold pieces are works of art. Weaving classic floral motifs and coloured gemstones, this collection is perfect to truss up your attire. Vibrant Palettes Dhandia Gems showcases a vibrant collection of jewels starring eclectic sapphires, classic Burmese rubies, Zambian emeralds, etc. Delicately highlighted by diamonds, these gem-studded pieces are timeless and alluring. The collection of intricately crafted jadau and meena bangles, kadas and sets made in gold magnificently bring out the timeless traditional look. Style Seeker Indigo Jewellery showcases its Dwi Sang collection of stylish two-finger rings. Set in rose gold and accented with diamonds, the collection embraces the fashion of minimalism. Contemporary and chic, it s perfect for a day out with friends. Another collection, Sparsh celebrates the artistry of handmade jewellery. Inspired by the rich arts and crafts of India, the collection combines diamonds with fine enamel work. 10

7 B R A N D W AT C H A Bouquet Of Sparklers Kiran Gems Pvt. Ltd., the world s largest manufacturer of diamonds, presents an array of dazzling jewellery collections set with certified and non-certified diamonds of various shapes and sizes at this IIJS. Kiran takes special care to ensure that its diamonds are responsibly sourced and processed through the natural diamond pipeline. Among the many splendorous collections, the Treya collection employs a combination of gold colours white gold for peace, yellow gold for fire, and pink gold for love. The balletic collection gracefully combines the elements of love, fire and peace in its unique designs. The Pride collection is the ultimate in men s jewellery. With an ideal balance of simplicity and substance, Pride gives a nod to smart masculinity. The Swara range is for those seeking spiritual solace. It blends the intensity of devotion with aesthetics for jewellery connoisseurs. Diamond Duet Kosha Fine Jewels showcases its collection of diamond rings. Inspired by nature, namely, flowers, vines and stars, the contemporary collection features diamonds set in micro-pave, illusion and channel settings. The minimal use of metal is offset by the generous display of round, princess, marquise, and baguette diamonds. Crafted to perfection, the rose, yellow and white gold rings are an absolute delight. A Bond Forever Platinum Evara - A Blessing Of Everlasting Love presents a new range of jewellery for the new age bride and groom. It is a unique opportunity for parents, in-laws and other members of the family to gift the couple a token of everlasting love in the form of an Evara bracelet or a statement necklace. The name Evara in Sanskrit means blessings. Love is the key emotion linked to every piece of Evara as the design incorporates a Platinum Bond that holds together multiple strands or motifs, symbolising the meeting of two families to create an altogether new relationship. Evara Platinum Blessings consists of a magnificent jewellery range of finely finished, modern designs necklaces, earrings, bangles and bracelets for the bride, and masculine chains and bracelets in fluid shapes for the groom. ADVERTORIAL It all began with a visionary approach, a zest for perfection and decades of experience. Now taking a step towards the future with the launch of our brand and distributor model rollout. With a vast array of ultra-lightweight chains with exquisite Italian finish, we are all set to adorn Indian necks. You will be spoilt for choice with our range of 18-karat gold chains kt branded gold chains Chain Experts and Jewellers Pvt. Ltd. 100/104, Motiwala Building, 3rd Floor, Shop No.25/26, Dhanji Street, Zaveri Bazaar, Mumbai chainexperts@gmail.com / info@chainexperts.com Phone: / /43

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