Insights from Mumbai with newly-elected GJEPC Chairman, Pramod Agrawal
CARAT+ reporter, David Brough, discovers a confident atmosphere in Mumbai fuelled by positive shifts in the US and Chinese diamond markets and high visitor numbers at recent industry events.
The global diamond jewellery market outlook for 2018 appears positive, buoyed by firmer prices of polished diamonds in January and strong signals for Indian exports.
The economic recovery of the United States, the world’s biggest economy and a huge market for diamond jewellery, is gathering pace, and prospects for Chinese demand are encouraging on the eve of Chinese New Year (February 16.)
De Beers’ first Sight of 2018 delivered strong sales of rough diamonds, setting the stage for a healthy demand for polished diamonds in the world’s main markets.
Speaking at the February 9-12 IIJS Signature trade show in Mumbai, Pramod Agrawal, newly elected Chairman of India’s Gem & Jewellery Export Promotion Council (GJEPC), predicted 15-20 percent year-on-year growth in Indian gem and jewellery exports in value terms in 2018.
He cited as reasons for the optimistic projection the quality of Indian manufacturing, and an encouraging market outlook for Indian gems and jewellery in centres such as the United States and Europe.
Related News: GJEPC welcomes new Executive Director
The GJEPC will also reinforce its promotional efforts in markets that had lagged in recent years, such as the CIS countries, Africa and Latin America.
At IIJS Signature, Agrawal told reporters that CARAT+ 2018 represents an excellent opportunity to boost exports of Indian-manufactured polished diamonds.
India processes most of the world’s diamonds at state-of-the-art factories in centres such as Surat, benefiting from a highly-skilled workforce.
IIJS Signature is the smaller of two GJEPC-organised Mumbai-based gem and jewellery trade shows held every year and is a barometer for the flow of Indian gem and jewellery exports. Against this backdrop, CARAT+ is well-positioned to deliver strong sales of loose polished diamonds and diamond jewellery, facilitating business between India and Europe.
Exhibitors at CARAT+ will include the world’s top suppliers of high-quality, ethically sourced diamonds, diamond jewellery brands and coloured gemstone specialists, including Rosy Blue, Kunming Trading Company, Taché, Roberto Coin and Shapiro Gems.
Words by David Brough
CARAT+ is The World’s Premier Diamond Event, covering the full spectrum of the diamond and diamond jewellery trades. The show specialises in four sectors: loose diamonds, branded diamond jewellery, non-branded diamond jewellery and services for the diamond jewellery industry.
Taking place in Hall 1 and Hall 4 of the Antwerp Expo on 6, 7 and 8 May, entry to the show is restricted exclusively to industry professionals, including diamond and jewellery wholesalers and manufacturers from around the world, and jewellery retailers from across Europe and the wider world.