The 3rd Indo Euro Jewellery Summit organized by The Gem & Jewellery Export Promotion Council commenced today in Mumbai with a brief Inaugural Session addressed by Rajiv Jain, Chairman, GJEPC and Reshma Lakhani, Jt. Development Commissioner, SEEPZ SEZ.
Welcoming the delegates, Jain noted that previous Summits – this is the third edition – have proved to be a very useful platform for both European buyers and Indian manufacturers and have helped create basic links for developing further business ties. He stressed that the two day interaction would help advance mutual understanding and give an impetus to trade and business ties.
Lakhani gave the delegates a brief overview of the SEEPZ SEZ and the multiple advantages it offers to foreign buyers wishing to source jewellery from India. She said that nearly 80 per cent of the units in the zone were gem and jewellery manufacturers, and all of them maintained the highest standards with regard to labour conditions and eco-friendly manufacturing systems, in addition to offering quality products.
Speaking to Diamond World, Jain said that though Europe faced the threat of a recession and sales could be slow this year, it was also spurring retailers to look for newer destinations from where they could source goods at more competitive prices. Citing the example of one European retailer who discovered that they had been purchasing Indian manufactured jewellery from New York, he said that direct sourcing would help them a lot in tough conditions.
Jain also noted that the GJEPC had focused on inviting larger players, adding, “Once the bigger retailers in a country or region begin buying from India, smaller retailers will in all probability follow.”
The first two days of the Summit will see one-to-one business interactions between the European delegates and Indian participants, and the next two days have been devoted for visits to factories of the participating companies in SEEPZ.
Jewellery from the participating Indian companies -- Asian Star, Core Jewellery, Fine jewellery, Goldiam International, Indigo Jewellery, Inter Carat Jewelry, Inter Gold, KBS Designs, Kiran Jewels, Patdiam Jewellery, Priority Jewels, SNC Jewels, Stellar Jewellery, Sunjewels International and Uni-Design Jewellery – was displayed at the venue of the inauguration.