Indian Jewelry Manufacturers, European Retailers Begin Five-Day Meet

Organized by India’s Gem & Jewellery Export Promotion Council (GJEPC), the event has 20 leading retailers, most from Europe and including a South African chain, wholesalers and a TV jewelry retail channel, meeting 15 Indian jewelry manufacturers.

GJEPC chairman Rajiv Jain told IDEX Online that the event was being run at a crucial time. “With all the worries about Europe and whether the Eurozone will survive, all businesses, particularly those in the luxury industry, are looking at keeping a tight lid on costs.

Jewelry retailers are looking for just such direct-sourcing avenues in order to stay competitive and maintain margins. I know of some firms that already buy products from the European and American offices of Indian firms but are now looking to come directly to the parent companies here in India just so that sourcing costs are kept down to the absolute minimum.”

The event will conclude on November 20.