UBM’s Chennai Show – a paradise for gold jewellery sourcing

Loose diamond participants receive lukewarm response
UBM’s Chennai Show – a paradise for gold jewellery sourcing

The 10th Gem and Jewellery India International Exhibition (GJIIE), Chennai slated from 8-10 February 2014, showcased one of the finest collections of gold and diamond jewellery. The event is organized by the Madras Jewellery and Diamond Manufacturers Association (MJDMA) and UBM India. In this edition, the exhibition expanded to three halls with 247 companies participating from almost every part of India. The strong potential of the gem and jewellery market of South India was evident, as being undoubtedly tremendous and huge compared to other parts of India.

There were gold jewellery exhibits from almost every major city in India including Hyderabad, Kolkata, Bangalore, Thrissur, Mumbai and Chennai. The platform served a gold jewellery retailer well in terms of sourcing and networking with manufacturers. Handmade jewellery from companies like Mamraj Mussadilal Jewellers, R.M.Jewellery, etc, machine-made casted jewellery from Sanghi Jewellers, KRIZZ and Emerald were also seen at the show. As per Suresh of KRIZZ, their new production line up ‘received tremendous response’, so agrees Gyan Prakash Arya of RM Jewellery who specializes in Gold Pendant Jewellery.

The diamond section saw some disappointment, as many agreed that the response and sales received was not as it should be for a show and market of this scale. As per Viren Agarwal, Dreamz Diamond Jewellery, the show ‘lacks a presence of major retailers of Chennai’, while also citing that ‘the diamond market is generally slow all over India’. Kashyap Doshi of Veekay Diamants held a contradicting view that the season was very good in December and January, and that they received decent response in the first half of first day, although post that it has been really slow.

Jitu Jodhani of Jewel Goldi (SRK Group) noted the show to be ‘really slow, and the large movement of consumers was very disappointing, as UBM mentioned this to be a B2B show’. A major obstacle many participants observed was that the show was set on dates on which major marriages in South India take place, keeping many buyers away. Vijay Johar, Euro Cubic, participating for the first time and who is the sole distributor of Preciosa and HysinYi in India opined the show to be good and that his company received quality queries.

HM Sultan, Jeweller and a committee member, said the show has reached its ‘highest capacity and has no space left to expand, if demand increases’. He further added that the ‘organizers may have to reduce the machinery section and expand jewellery booths in that area.’ Another committee member, Yogesh Shah agrees that the show may have to be further expanded to a four day show, as many people travel the distance to Chennai involving high costs and as such an extra day will only help buyer and a seller.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

Diamond World