The days leading up to Signature IIJS and IGJME were ones that were filled with concerns over the impact of demonetisation as

well as new policies that may be introduced during the tabling of Budget 2017 which was held a few days prior to the show but once Signature IIJS started, the fears were allayed. Gold jewellery was

in demand and smaller, lighter goods below K5 lakh across product categories was the order of the day. Solitaire reports.

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he 10th edition of Signature IIJS and the fourth edition of India Gem & Jewellery Machinery Expo (IGJME) held from

February 6-9 at the Bombay Exhibition Convention Centre in Mumbai revived buying sentiments for the industry. Most gold and studded exhibitors were satisfied with business transacted at the show. Sales began to pick up in 2017 which perked up the industry’s mood and this was evident on the show floor.

The show was inaugurated by chief guest Ernest Blom, WFDB president, and guest of honour Manoj Dwivedi, joint secretary, union ministry of commerce, Government of India.

In his keynote address, GJEPC chairman Praveenshankar Pandya said that the GJEPC has come a long way in organising various activities in the gem and jewellery sector. Its pioneering efforts in organising trade shows over the last seven decades have made Signature IIJS one of the most sought-after exhibitions. “Even though the whole Indian industry was affected by demonetisation, we decided not to cancel Signature and focus on growing exports for the benefit of our trade members. I am pleased to announce that this year, too, we will be registering growth in double-digit figures. 2017 started on a positive note. After some turbulence, the industry is looking to replenish its stock, ensuring greater exports from the country.”

In his address, Dwivedi said, “It is a pleasure to witness direct business happening at the show. Signature is a business networking platform and an effective way of reinventing the industry every year. The Council should think of having a convention centre of its own. The government will have equity in it and will provide full support. The convention centre can become a single stop for exhibitions, summits, conferences, etc. for the sector, but it will need meticulous planning.”

Blom informed that the 50th year of the GJEPC happens to coincide with the 70th jubilee of the WFDB. “India is the land of gold and diamonds and the best manufacturing. I take my hat off to the Indian

diamond community after witnessing the type of manufacturing taking place at the Bharat Diamond Bourse and in Surat.”

Gold holds steadyGold exhibitors at Signature IIJS were happy with orders placed right from the first day itself. Brisk buying at the retail end resulted in retailers looking to restock their inventory.

Vijay Jain of V.K. Jewels commented, “I met new customers on day one itself and the response was better than expected. I met more buyers from the south. This year, I have concentrated on gold jewellery with diamonds, as that is the current trend. The jewellery industry went through two tough phases – excise and demonetisation – where buying came to a standstill. I am sure 2017 will be better.” V.K. Jewels manufactures handmade jewellery in 18-karat gold.

This year, on display were bangles that featured textured gold buds with diamond accents as well as bracelets and pendant sets with openwork designs with gemstone and diamond additions.

Given the current economic scenario, exhibitors did not expect too much from the show. The moderate buying sentiments pleased the exhibitors.

“Signature has been above expectations for us,” said Bhavik Shah, owner of R.P. Ornaments. “Other shows have been cancelled so everyone has turned their focus to Signature. In the last 10-15 days, demand has improved and we are happy with the show.”

Haresh Pahuja of Itan Jewels commented that buying has resumed in earnest. “Day one was very good for us. We met buyers from Dubai, USA, as well as India. Plain bangles in the 12-14gm bracket are in demand. Maharashtra and southern India has accepted cashless transactions but Delhi is still coming to terms with it,” informed Pahuja.

Rehman Shaikh of Gold Artism said, “I launched the Feather Touch collection at Signature this year and it has done extremely well. Earlier, necklace sets would weigh around 80 gm, and now we have managed to reduce them to 60-70 gm. Post

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Even though the whole Indian industry was affected by demonetisation, we decided not to cancel Signature and focus on growing exports for the benefit of our trade members. I am pleased to announce that this year, too, we will be registering growth in double-digit figures.”

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demonetisation people have less money in their pockets, so I have designed jewellery as per their current spending power. We met buyers from North and South India. Initially, people got a shock after the demonetisation announcement, but now people are warming up to cashless transactions.”

Alpesh Thadeshwar of J.P. Enterprise was satisfied with the footfalls at his booth. “We have been exhibiting at Signature IIJS for the last 10 years. Although we have not met new clients, in today’s market we are more than happy to cater to our regular clients who are spread across the country. We deal in handmade bangles in 22-karat gold. At the moment, bangles with intricate detailed work are in demand. The popular weight bracket for a 4-bangle set is 30-50gm while kadas are in the 80-100gm bracket,” informed Thadeshwar.

Jignesh Shah of R.R. Jewels informed that they have met buyers from across

India as well as new clients from UAE, New Zealand and Australia, who cater to Indian customers in their country. “International buyers look for contemporary jewellery with a touch of Indian elements to it, or what we call desi tadka. Indian buyers are on the lookout for jewellery that is big in form but light in weight,” said Shah, adding that today’s consumers are conscious of quality. When asked about the industry’s acceptance of moving towards a cashless economy, Shah said, “Wholesalers have not yet adjusted to the new cashless method of business whereas retailers have. Manufacturers can deal directly with retailers and can plough the additional profits into technology so that they are at par with Italian manufacturers.”

Manish Swami of Payal Gold informed that handmade gold bangles are doing well. “We have 50 categories of bangles and we have just introduced rings. Bangles in 18-20gm are doing well. We have been

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meeting retailers across Maharashtra and Gujarat in order to engage in research and fine-tune our collections. We found out that toda bangles are preferred by consumers in the interiors of Maharashtra, so we have introduced new designs in that particular segment,” informed Swami.

Vineet Vasa of Lotus Jewellery Creation said that they have met buyers from across the country for their laser filigree and CNC products. “We cater to premium retailers and are happy with the buyers we have met at the show. We have received orders for jewellery across all our product categories.”

It wasn’t just about lightweight jewellery. Bridal jewellery, too, gained momentum at the show. Arvind Chordia of Saaz Jewels informed that they received a good response for their bridal antique gold jewellery. “We have also started manufacturing diamond jewellery this year. We interacted with new buyers from Ludhiana, Meerut and Delhi in the last two days as well as a few from Dubai.”

Aakar Gold received orders mainly from South India. “This year we have launched 3D effect jewellery. We have also brought antique finish jewellery, oil painted and laser-enamelled jewellery with Swarovski stones,” said Ashwin Shah, director of the firm.

Harendra Vadher of R.K. Silver said that this was the first time they were participating at Signature and were very happy with the response. “We are the only ones who are selling silver anklets at the show. We met new buyers from southern India as well as some from Madhya Pradesh and Uttar Pradesh. We have an established network in South India, Gujarat and Maharashtra.

Design cuesEvery year, at Signature IIJS, design takes centre stage – especially at the Signature Club. Some of the major trends that have emerged at the show are twisters or spiral-shaped motifs with interplay of geometry, diamond or gem-set feminine florets adorning the pieces, and necklaces composed of thin layered rows interjected

with rubies, polkis, emeralds or pearls. Chand balis still are the favoured lot, but this time they are seen in minimalistic avatars. The jhumkis are lighter with asymmetrical gold or pearl tassels, flares and drapes.

Another highlight is a fusion of antique naqashi motifs juxtaposed with textured yellow gold. Rose gold is being increasingly contrasted with white gold or rhodium finishes. Illusion setting of diamonds to get larger solitaire shapes is also prevalent. Jewellery with a medley of fancy-cut diamonds, too, is in vogue.

Lightweight jewellery in diamonds and gold seems to be the order of the day, costing under R3 lakh. Jewellery produced for the couture and daily wear segments today has a global appeal. Clearly, the geographical and cultural boundaries are blurring, and according to an exhibitor, who just returned from a jewellery show in Italy, the collections that they made for the European market are also getting equally good response at Signature.

Bhindi Manufacturers, Rajkot, unveiled a unique collection in 22-karat rose gold teamed with intricate naqashi work and rhodium-finished white gold motifs enhanced with Swarovski zirconia. Partner Manish Bhindi notes, “Weighing as light as 50gm, each necklace set costs around R3 lakh. We have also introduced an array of one-off rings set with uncut diamonds and lightweight tasselled earrings. The response to our new collection has been very heartening.”

Ana is a fairly new collection ranging between R5,000 and R50,000 by Sawansukha Jewellers, Kolkata. “The collection in 22-karat gold consists of delicate designer rings and earrings studded with top quality diamonds. The range is doing exceptionally well,” Siddharthaa Sawansukha, managing director, said. “Apart from the bridal collection, we are concentrating on the affordable range which will soon be retailed online by us.”

Technical innovations that help motifs transform from buds into blooms and more are also trending. Sawansukha had a range of diamond-set bracelets topped with Rosentiques

florets that contracts at the slightest touch and blossoms again with the movement of the wrist.

Rosentiques, Mumbai, has a special line called the Lotus collection that had similar technical elements. The range of earrings and rings mounted in rose gold opened and closed with body movement. The collection was suffused with polkis, gemstones and diamonds. Alternative material, too, was found in some collections. Sangam Chains had a collection of bracelets made of special rubber topped with rose gold motifs set with diamonds.

Lightweight jewellery weighing from 2gm to 15gm, consisting of ultra-delicate rings and necklaces, graced the booth of Chokshi Vachhraj Makanji & Co. (CVM), Junagadh. A company spokesperson informed that they had increased the gold weight in designer bridal pieces as customers were willing to buy heavier pieces. But there is also a segment that prefers design-oriented daily wear that is easy on the pocket. “We have a new range that is set with a smattering of polkis, rubies and emeralds and pearls. In the bridal range, layered necklaces paired with or without chokers is currently trending.”

Price-conscious purchasesA good turnout of serious old and new buyers surprised exhibitors in the studded jewellery section. Ranging from kundan-meena jewellery to diamond and gem-set gold jewellery to temple jewellery, the section offered collections across the daily wear, couture and bridal categories

Kundan jewellery meant for daily wear is fast gaining traction. One could see booths populated with double-drop earrings, ear studs, rings set with small and large polkis and accented with pearls and gems and exotic coloured enamels and lacquer work.

Ankit Lodha of GIE Gold Creations, Jaipur, informed that unusual jewellery collections at their booth did well. “We have a range of multiple-row South Sea pearl necklaces featuring ornate pendants with carved emerald and tanzanite stones and jhumki tassels. We have sold all of

them. We are very happy with the show and surprisingly have some new clients. The neckpieces are cost-effective because of less usage of gold.” However, Lodha noted that designer necklaces between R7 lakh and R8 lakh were in demand. This time they met new buyers from Delhi and Mumbai.

Naman Kala, owner, Kinu Baba Jewellery showcased kundan-polki jhumkis enhanced with mother of pearl in places that were once just negative space. We have met new buyers from Bangalore, Mumbai and Delhi. Earlier we would manufacture our creations in 14-karat but now we design in 18-karat as well. Our earrings and kadas in the R2-6 lakh bracket are fast moving. Very heavy pendant necklaces with strings of pearl are also in demand. Priced between R5 lakh and R8 lakh, they look big yet are cost-effective.

Jeypore Creations specialises in 18-karat and 22-karat kundan jewellery embellished with Bikaneri and Jaipur enamels. “We did meet new clients from Mumbai, Kolkata and UP,” informed partner Kapil Jain, but the clients are very price-sensitive. Jewellery below R10 lakh is in demand.”

Colin Shah of Kama Schachter commented that retailers haven’t replenished their inventory in the last 2-3 months, so they are placing orders at Signature. “We were pleasantly surprised to meet new buyers from Kochi, Trichur, Bangalore, Ranchi and Pune. We specialise in jewellery from R10,000 to R1 lakh. We started doing lightweight jewellery many years ago, while others have just started focusing on lightweight diamond jewellery. Our quality is extremely high and we are selective with our diamonds.”

Umakant Gupta, partner, Inderlal Balmukund, Hyderabad, caters to the southern region. The booth had single and multiple chains in 22-karat gold adorned with South Sea pearls, gold beads with naqashi work, emerald and ruby beads. “Anything below R2 lakh is popular with our clients. We are very happy with the response,” said Gupta.

Necklace sets below R10 lakh have been the hot picks at P.C. Totuka, informed

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owner Gautam Totuka. “The range that is moving off the shelves is between R4 lakh and R7 lakh. We have received some queries from the south this time. However, our main markets are the northern region, Mumbai and Chennai.”

Valentine Jewellery, Jaipur, famous for high-end prêt wear, has a range up to R3 lakh. “The show was better than expected,” informed partner Alok Khandelwal. “Emerald jewellery is a top seller and necklace sets studded with diamonds and gemstones up to R1.5 lakh are popular. Navratna jewellery that we had launched in IIJS 2016 is still trending and our new kundan-meena daily wear jewellery, especially earrings, are very popular. We met new clients from Kolkata and Delhi. Our main clients are from central and eastern India.”

Kishoor Kumar P. of Swarnmandir Jewel Designer Pvt. Ltd. informed that business at the show was very satisfactory. “We have met old and new buyers from across the country. We showcased studded chains as well as components for ready chains, necklace sets and more mainly

for South and Central India. Since these regions prefer gold of the highest purity, we offer 22-karat gold jewellery.”

For Manas Kala of Sara Jewels, Signature was better than they expected. “Earrings, rings and maang tikas under R5 lakh are in demand. We mainly cater to the north but southern India is also opening up to kundan-meena jewellery. Sara Jewels showcased meenakari-enhanced jhumkis and baalis that were lined with pearls and rubies on the inner edge.

Junagadh Jewellery Pvt. Ltd. received a great response for their gold jewellery line with minimalistic gem-studded elements. The pendant sets in the range of R2 lakh weighing between 20gm and 100gm were appreciated by buyers from the south. The collection is sold three times over, informed Jugal Choksi, owner of the firm. They also showcased textured rings, chains and kadas for men which were a hit.

Aakash Soni manager at Kulthiaa Jewels said that the show was better than expected. Rings, bracelets with fancy-cut diamonds as well as layered necklaces in the R4-6 lakh bracket were hot-sellers.

In a bid to align itself with the government’s Digital India initiative, the GJEPC launched an app as it moves towards transforming into a cashless, paperless institution. Sabyasachi Ray, executive director, GJEPC, informed that all information required from the Council, including grievance redressal, will be addressed through the app. Dwivedi added, “GJEPC can consider linking its MyKYC initiative to the mobile app so that participating members can have a single interface to complete formalities.” At present, the app is available in English and Hindi, but more languages will be added later.

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Loose stonesThe loose diamonds and gemstones section was comparatively smaller this year as most of them feel that the show is more of a jewellery-oriented trade show. Also, the overall demand for loose gemstones and diamonds in the domestic market is slow which could be another reason for the fewer booths.

Punit Shah of Dalumi Diamond India Pvt. Ltd. felt that there were fewer footfalls since the show was held on weekdays as opposed to being held on the weekend. “Most clients prefer to come on the weekend. There is moderate demand for certified dossiers below 50 pointers,” informed Shah.

Pankit Shah, sales and stock manager at Osia Gems said that sales are few for loose diamonds at Signature IIJS. “Each buyer has different demands. We specialise in rounds and we also have pear and marquise diamonds. The domestic market is a little slow. Currently, most of the demand is from exports, especially from USA and Bangkok.”

Kaustubh Kuwadia of Asian Star too commented that demand for loose diamonds is slow at the moment for the domestic market though the export market was picking up especially from the Far East, the Middle East and USA. Signature is mostly seen as trade show for jewellers. However, there are genuine buyers at Signature,” said Kuwadia.

Gaurav Punjabi, sales manager at Lal Gems said that they have no complaints about the show as the overall market is slow. “Emeralds and rubies continue to be in demand from buyers across Chennai, Hyderabad, Mumbai and Delhi,” informed Punjabi.

Other exhibitors like Amit Punjabi of TT Gems as well as Salahuddin Ahmed of S.S. Brothers also felt that the overall market for coloured gemstones was average.

Tech stopThe 4th edition of IGJME which was held alongside Signature IIJS occupied a neatly demarcated area in Hall 1. The show received an above average response and was an opportune place for technology manufacturers and distributors to network with jewellery manufacturers.

Girish Lokhande, sales, Aczet Pvt. Ltd., commented, “The show is above average. It is better than last year. We manufacture laser welding machines, weighing balances, gold testing machines, and laser stamping machines, which are used by jewellers and hallmarking centres. In India, we are the only manufacturers who make these machines. We export the machines to the US, Dubai and Bangkok as well.”

Mansi Bhopani, owner, Harsh Precious Metals, commented that IGJME is a good opportunity to meet serious clients. “We deal in alloys, solders, wire fittings and findings in gold, silver and palladium. Generally most of the alloys are imported, but we are trying to manufacture high quality alloys in India itself, to make it cost-effective. We just received a query for pink silver at the show and it got us thinking that we should try and manufacture it.”

Solanki Mechanic Works deals in jewellery faceting machines for bangles, chains, rings, watches, pendants, balls and beads. “We make all our machines in-house. It is apt for gold and diamond manufacturers. We have had a good show with a mix of old and new buyers,” said Dipesh Ranpara, president – marketing and sales of the firm. “Technology is never cheap but the sooner manufacturers adopt new technology the better – that is the only way forward,” he added.

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The 4th edition of IGJME which was held alongside Signature IIJS occupied a neatly demarcated area in Hall 1. The show received an above average response and was an opportune place for technology manufacturers and distributors to network with jewellery manufacturers.”

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GJEPC chairman Praveenshankar Pandya touched on various issues at a press meet held on the sidelines of Signature IIJS 2017 on February 7th. Responding to a query about the impact of demonetisation on the gem and jewellery industry, he said that the move had shocked everybody. “Fortunately, it happened post-Diwali so it gave us time to organise ourselves. Also, the impact was not felt by 70% of the diamond export industry that works through banking channels. Only 30% of the segment that works in smaller clusters and smaller diamond producing units consisting of 4 to 10 wheels who rely on distributors to provide them with rough diamonds were affected. Post demonetisation, owners of these smaller units started opening bank accounts for their workers.” Pandya was confident that the industry in 2017 will register double-digit growth. “Last year, the industry contracted by 10% due to many issues, but we will see a return to normalcy.”

He went on to elaborate that America has fully recovered from its economic slowdown. “Two years ago, volatility in China was very high, but in the last few months, buying has been steady. Even when it comes to the European Union, the worst is over. We are looking forward to positive growth.” Addressing the issue of undisclosed mixing of synthetic diamonds in natural parcels, Pandya said, “In 2013, we found the first traces of synthetic diamonds in natural diamond parcels which led to confusion, doubt and rumours. We appointed AT Kearney and Bonas & Co. to prepare a report on the prevalence of lab-made diamonds in

‘2017 Will Register Double-digit Growth’

India. We formed the Natural Diamond Monitoring Committee. Once again in 2016 we have given AT Kearney the job to conduct research which will be out later in the year and will be an ongoing process.

“In September 2015, we banned trading of lab grown diamonds at the Bharat Diamond Bourse (BDB). One company even sued us for $7million and we won the case against them. We want to protect the footprints of the natural diamond industry.

“The Gemmological Institute of India (GII) was given the task to come up with a machine and within one year they came out with Quick Check, a small portable machine that will help the user identify Type IIb HPHT diamonds down to as small as -2 sieve size in only a few seconds with near 100% accuracy. Three months later, the upgraded machine could identify CVD diamonds as well. I think it has been one of the greatest achievements during my tenure. Today every parcel in BDB is checked. It is necessary for all the countries to implement these checks.

“We found that the perception of the scale of synthetics mixing was much larger than the actual threat. The Diamond Producers Association has been given the task to approve synthetics detecting machines so that the community can check if they are doing the job. Just as the cubic zirconia market has created a niche for itself, synthetic diamonds, too, have to create their own marketplace.” n