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Slow Market Impacts UBM’s Mumbai Show
Slow market and inadequate publicity cited as major causes
By: Diamond World News Service
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Dec 14 2011 12:47PM
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Reference: 6558  

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The inaugural Mumbai Jewellery & Gem Fair, the first show in Mumbai by veteran fair organizers UBM, ended on a somewhat dull note with low visitor footfalls and a slow tempo of business. The show, held at the Bombay Exhibition Centre in Goregaon, Mumbai from December 9 to 11, had a sizable number of international participants among the 250-odd exhibitors, but failed to generate much excitement among domestic retailers.

Interestingly, a number of first time participants both from India and abroad were companies who are on the waiting list for the bigger shows in Mumbai. While the domestic players had their sights set on the Mumbai market, the international exhibitors saw this as an entry point into the Indian market which they believe has enormous potential.

Many exhibitors said that they had not come with very high expectations as it was a new show and was taking place against the backdrop of a very slow market. The general consensus was that not much business was transacted, though a few exhibitors, both from India and abroad, reported being satisfied with the enquiries received and contacts they had made.

A common observation was that the fair had not been given sufficient publicity, and that as a result many sectors of the trade were not aware of the event. At the other end of the spectrum, quite a few participants also noted that a large number of visitors were small jewellers from different districts of Maharashtra who could not really be described as buyers.

However, the organisers did receive a pat on the back from most for the quality of the infrastructure and other arrangements. Many exhibitors expressed the view that they would return for the next edition (to be held at the same venue January 6-8, 2013), confident that an experienced trade fair organizer like UBM would be able to put together an improved show.

UBM, which is well known as the organiser of the mammoth September Hong Kong fair and other jewellery expos in China, Turkey etc, had become co-organiser of the existing GJIIE in Chennai and HJF in Hyderabad soon after it entered India a few years ago. MJGF, the new Indian show that it had launched independently under its own banner, was supported by the All India Gems & Jewellery Trade Federation (GJF) and the Mumbai Wholesale Gold Jewellers Association.

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