Indian jewellry industry at advantage  ( July '29,2003, ET)

Look at some of the leading jewellery manufacturer-exporters like Rs 450-crore Shrenuj. After establishing its name in overseas markets, the company with three most modern manufacturing facilities, is getting aggressive to market value-added jewellery in the domestic market.``We look forward to tap the huge potential of Indian jewellery market by offering new brands and right products,’’ Shrenuj managing director Shreyas Doshi said. The products with certification of International Gemological Institute (IGI) certification, will offer value for money to the customer. The company hopes to reach a turnover of around Rs 500 crore during the current year.

Earlier, the legendary jeweller Gerald Ratner joined hands with Seepz-located SB&T International to form a joint venture company SB&T (UK) for marketing SB&T products in UK. SB&T is one of the leading jewellery maker-exporter from India.

With a strong domestic market, Indian jewellery has huge potential for exports also, considering the encouraging response the recent India International Jewellery Show (IIJS) received from overseas buyers. Representatives from major buying houses and retail chains from Europe visited the IIJS and showed keen interest, said Indo German Export Promotion Project director Dr D Kebschull. The visit of the high level buying delegation was organised by IGEP, a joint project of Indian commerce ministry and German economic ministry.

The show has informed major buyers in all potential markets all over the world about the advantages in buying from and cooperating with India. ``India can be an extremely competitive player in gems and jewellery sector and enjoy advantage over countries such as Thailand and Hong Kong,’’ he added.