India capable of delivering luxury jewellery - FICCI

Fashion

India capable of delivering luxury jewellery - FICCI

A number of key issues related to the growing demand in India for higher end solitaires and designer jewellery were discussed by over 150 leading jewellers from all over the country at the first ever “Trends Conference” for the gem and jewellery sector held at Hotel Trident in Mumbai. The conference, organised by FICCI Gem & Jewellery Committee, is part of the International Solitaire & Designer Jewellery Show, a trade exhibition cum buyer-seller meet at the same venue. Presenting the inaugural address, Mr. Mehul Choksi, Chairman, FICCI G & J Committee, said, “The Conference is the first of many such programmes that the FICCI would be organising in an attempt to bring together different stake holders from across the industry and strengthen the fast growing modern retail segment within the Indian jewellery industry.” He added that the emergence of the high end segment dealing in solitaire and designer jewellery was an indication that Indian jewellery industry had developed the capability to deliver luxury jewellery to discerning clients. The first session was devoted to “Designer Jewellery and Prospects for this Category”. The jewellers who participated included Varuna Jani, Raj Mahtani, Bina Goenka, Farah Khan Ali, Mira Gulati and others. The discussions focused on the challenges of doing business in this sector, and some of the strategies that have been adopted to face them. A session on “Diamonds as Investment” saw Mr. Mehul Choksi, CMD, Gitanjali and Mr. Mordy Rapaport of the Rapaport Group looking at a new facet of diamonds – their attractiveness to the consumer as a store of value. The session saw some fascinating insights into what drives the Indian consumer in selection of jewellery. The Conference concluded with a number of interesting insights provided by sharing of experiences by retailers from a number of TierII and Tier III cities who had gathered in Mumbai for the event. The rest of the day`s programme was a Buyer-Seller meet limited to members of the trade.

FICCI (Federation of Indian Chambers of Commerce and Industry)

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