CHENNAI: To fuel trade for the jewellery industry in India, a mega business-to-business jewellery exhibition was announced by the Madras Jewellers and Diamond Merchant Association (MJDMA) and UBM India, a leading exhibition organiser.
“The gem and jewellery section contributed 6 to 7 per cent to India’s GDP according to a study conducted by UBM-India, and India is also one of the largest consumers of gold globally with a 20 per cent share in global consumption,” said Ravi Saneja, Senior Group Director, UBM. “South India is the country’s major consumer of gold,” he added.
According to Rajesh Vummidi, the chairman of MJDMA, India’s organised jewellery trade is still nascent but the growth potential is enormous. “With India’s growing passion for branded jewellery, the picture is optimistic. Westernisation of lifestyle is responsible for changes in buying patterns of the consumer, and they are demanding new designs and varieties, which branded jewellers are better able to fulfill than local unorganised players.”
Over 300 exhibitors, retailers, artisans and wholesalers will participate in the The Gem and Jewellery India International Exhibition 2015(GJIIE) which will take place between March 20 and 22 at the Chennai Trade Centre, with representation from countries like Dubai and Thailand.
The ‘Kaarigar Awards’ for artisans will be a special feature of 11th edition of GJIEE, where the unspoken heroes of the jewel trade, the traditional craftsmen, will be honoured.