The {{Gem & Jewellery Export Promotion Council (GJEPC)}} hosted the first Indo-European Jewellery Summit, which was held at the Renaissance Mumbai Hotel and Convention Centre between 18 and 22 November, 2009. It was hoped that through the five-day summit, major markets like Europe actively recognize the power of Indian Jewellery manufacturing and source their requirement. {{Anita Agnihotri}}, |*Development Commissioner, SEEPZ*| and {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India*| were the guests of honour at the summit. %% {{Rajiv Jain Enumerates India’s Potential :}}$$ Citing the summit to be an effort to bring together prominent European retailers and leading Indian manufacturers under one roof, {{Rajiv Jain}}, |*Vice-Chairman*|, GJEPC in his speech said, |*“The Economist in its recent edition termed {{India}} as {{the fastest growing economy of 2009}}. The gems and jewellery sector was one of the highest contributors to this robust economy accounting for 14 per cent of the total merchandise in exports. Diamonds contribute around 68 per cent of the gems and jewellery export basket, gold contributing 27 per cent, colored gemstones and others one per cent each. India is a world leader in diamond manufacturing with 60 per cent in value and 85 per cent in volume. The industry produces gemstones, both small and large, in all shapes and sizes. India today accounts for 26 per cent of DTC sales of goods. The country is the largest consumer of gold with nearly 800 tonnes of gold consumed per annum accounting for 20 per cent of world’s gold consumption. India is now emerging as the world’s largest trading centre of gold targeting US $ 16bn by 2010. The industry employs workforce of 1.5bn, while nurturing new talent everyday through our state-of-the-art institutes set up at six cities in India. Over the years, the gems and jewellery industry has successfully transformed itself from being a source of traditional jewellery to a hub of modern and contemporary jewellery conforming to western style and India’s craftsmanship which is recognised as best in the world. This summit will provide European guests exposure to the crème-de-la-crème of the Indian manufacturers who create masterpieces, and an opportunity to forge close business ties with the client. For Indian participants, the summit provides an opportunity to penetrate into the European markets and involve with some of the best European retailers in the world. This summit will give the manufacturers insight into the demands of European jewellery market. I therefore request the Indian manufacturer to make the most of it.”*|$$ He added, |*“GJEPC in its role of the trade facilitator has taken the onus to restore the Indian gem and jewellery industry after last year’s downturn and refurbish it to its former glory. With the exports figure steadily improving over the recent months, GJEPC is confident that through the platform provided by this summit, existing relation would be strengthened in the time ahead. The {{Santa Cruz Electronics Export Processing Zone}}, popularly known as SEEPZ, accounts for almost 30 percent of the Indian jewellery exports and is an important collaborator in this endeavour and they boast of the finest jewellery units of our country. I would like to conclude with the Indian gem and jewellery industry belief in proficiency, reliability, quality and is committed to its goal.”*|

{{Anita Agnihotri,}} Development Commissioner of SEEPZ, {{Rajiv Jain,}} Vice-Chairman, GJEPC (fourth from right), {{Spencer Mahony, }}first Secretary and Head UK Trade and Investment Western India British Deputy High Commission (in centre), {{Sohil Kothari,}} Director, Fine Jewellery Mfg. Ltd. (second from left) and {{Sabyasachi Ray,}} Executive Director, GJEPC (first from left) at the Indo-Euro Jewellery Summit, 2009 in Mumbai, |*along with other delegates*|

{{Stalwart Participants :}}$$ The summit saw around 11 leading European chains from countries like the UK, Spain, France, Germany, Italy, and Poland participating in a series of high level meetings with 15 foremost 15 Indian manufacturers. The Indian manufacturers comprised |*Bombay Jewellery Manufacturers, Dimpex Jewels Pvt. Ltd, Elegant Collection, Fine Jewellery Manufacturing Ltd, Gold Star Jewellery Ltd, Inter Gold (India) Pvt. Ltd, Intercarat Jewellery Pvt. Ltd, Jewel Art, Jewelex India Pvt. Ltd., KBS Designs, Mohit diamonds Pvt. Ltd., Patdiam Jewellery Pvt. Ltd., Priority Jewels Pvt. Ltd., Shankar Jewels Ltd., and Sunjewels International Ltd.*| All the participating manufacturing units are situated in an around SEEPZ, which houses over 160 gems and jewellery units representing more than 130 jewellery manufacturers, and exports over Rs. 7,000 crores worth gems and jewellery to other countries. %%

{{The Objective}}$$ Going beyond simply looking to supply competitively priced jewellery, as moderator of the summit, {{Hemant Shah,}} |*PM&BD,*| GJEPC, puts it, |*“The philosophy behind organizing such an event was to create an atmosphere where in a relaxed and easy manner buyers and sellers would get together to forge relationships rather than become a vendor and purchaser from business houses.”*| The objective of introducing the summit to focus on the European market was not to just substantially increase direct jewellery exports to the European sector, but to also expose the higher standard of services, jewellery manufacturing processes, supply chain, business practices and culture to the not so aware market in the European Union (EU). The summit provided a platform to Indian manufacturers to engage in meaningful discussions about critical business issues and explore opportunities for initiating distribution/supplies to leading chains/brands in Europe, explore possibility of displaying their brands for local consumers in EU outlets and explore acquisition of brands. %% {{Seminars & Meetings :}}$$ Various seminars and meeting were held during the five day summit. Among others, {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India,*| conducted the first session talking about Indo-Euro Forging New Relationships. While stating that the EU is India’s largest trading partner, and both the parties share a special relationship, Mahony said that with hopes of the free trade agreement between the EU and India coming into force sometime in 2010, the objective would be to double trade from for instance a $100 bn to $200bn. He also stated economic and political stability, the increasing purchasing power of the population in India as some of the reasons to build business relationships with Indian manufacturers. Talking of the Indian customer being more sophisticated and aware of the European tastes, Mahony said it is much easier for the Indian manufacturer to understand the European preferences and meet the customer’s needs. %% {{Factory Visits :}}$$ In addition, two-day boardroom discussions between the manufacturers and retailers were also organised. After the meetings, retailers could choose four manufacturers for factory visits on the subsequent days. This short listing was later on extended to six manufacturers in the wake of the enthusiasm among both the parties. %% {{European Experience :}}$$ Prior to the economic slowdown, the Indian jewellery fraternity had been very much dependent on the US. One year down the lane, the Indian industry is spreading its wings and exploring other bigger markets including the European Union. However, Europe has been a challenge. {{Filip Van Laere,}} |*CEO of Jewellers of Europe,*| who has been acting as a liaison between the Indian jewellery industry and the European retailers says, |*“We had been fighting a little bit uphill in the last year with these retailers. Traditionally Europeans feel slightly awkward about Indian products. There has been some issues in the past regarding style, quality, design, service levels. People tended to remember the bad experiences more before looking at the new opportunities which the modern Indian jewellery companies had to offer.” *|%% {{SEEPZ Surprised the Guests !}}$$ So the question arises – Have the European retailers’ perceptions changed?{{Filip}} says, |*“For someone who has moved between Indian reality and European expectations, I would like to say is that we managed to replace the old picture of jewellery manufacturing in India with something new. I think when people visited the factories in SEEPZ, the surprise was probably even higher.”*|%% Does he expect a good business relationship? According to Filip, |*“I have always thought that three things happen – first it is people, then it is business and finally profits. Therefore, as of now, it is people meeting professionals and being connected. It is about understandi

{{What Indian manufacturers said…}}%% |*“It was a fantastic platform as we had one to one meetings with all the retailers. I am very sure this immediate interaction will translate into a business relationship very soon definitely in 2010 looking at the response we have. There is good potential. I am happy.”*|$$ {{|*-Ranak Patel, Managing Director, Inter Carat Jewelry Pvt. Ltd.*|}} %% |*“This is a very unique one of its kind event and I think of this as a precursor to a selling group rather than a buyer group about the way the world is moving towards consolidating partnerships. It was a great event and I hope to see more such events in future as well.”*$$| {{|*-Nihar Mehta, Partner, Bombay Jewellery Manufacturers*|}}%% |*“I would definitely like to say that this platform of bringing manufacturers as a group and representing India as an industry was a strong and correct move.”*$$| {{|*-Sohil Kothari, Director, Fine Jewellery Manufacturing Limited*|}}%% |*“To personally contact each of the retailers and try penetrating their offices would have been a difficult thing. But this summit has helped our company a lot and I hope to see such platforms more and more.”*$$| {{|* -Shailesh Sangani , Managing Director, Priority Jewels Pvt. Ltd.*|}}%% {{|*… And the Europeans feedback…*|}}%% |*“Technology has certainly developed very much. We found many good jewellery pieces of India that are ready to be used in my country. Perhaps you need not concentrate only on diamonds, but could produce some models in gold.”*$$| {{|*-Michal Marek Kwiatkiewicz, President of Board, Yes Bizuteria, Poland*|}}%% |*“It is more a case of tastes being made more suitable for our market at a particular level, which is happening for the last few years. It would not be a problem.”*|$$ {{|*-Andrew Frank Hinds, Director, F Hinds, U.K.*|}}%% |*“The summit was too short. We met many good people. However, I do wish we had more time to see all of them and to go maybe further in the relationship.”*|$$ {{|*-Claire Caillard, Managing Director, Club des Joailliers createurs, France*|}}%% |*“For my market I found the designs were perfect. As we need more exclusive and new lines, I feel the Indian manufacturers would be able to do it. I think the designs should sell.”*|$$ {{|*-Oscar Miguel Perez Canalejo, Purchase Manager, Jose Luis Joyerias, Spain *|}}

{{Conclusion}}%% {{Brand India Pushed :}}$$ |*“The Indian gem and jewellery industry has been able to break ice in a market that has traditionally considered India as a hot house of manufacturing rather than a creator of fine jewellery,”*| says {{Hemant Shah}}.|* “ Although they had preconceived notions about India, the retailers came here with a very open mind and that has what helped them to realise far more quickly and make it easier for the Indian manufacturer to prove that Indian manufacturing is substantial, has quality, and has professionalized itself.”*| He goes on to say,|* “I believe that this kind of event would be the first step towards creating something that we wanted to create over the past few years and that is Brand India image. This is the starting point for us to go out in the world and say that we arrive as Indian manufacturers.”*|%% As hopes of further talks translating into long-term business alliances and eventually profits is in the air, a need for improvements in the design and style to cater to the European market has been revealed. Nonetheless, the summit has been a stepping-stone for both the European Union and India to building new alliances and enhancing the existing business partnerships, repositioning the Indian jewellery manufacturing industry as a world leader on the global map.

The {{Gem & Jewellery Export Promotion Council (GJEPC)}} hosted the first Indo-European Jewellery Summit, which was held at the Renaissance Mumbai Hotel and Convention Centre between 18 and 22 November, 2009. It was hoped that through the five-day summit, major markets like Europe actively recognize the power of Indian Jewellery manufacturing and source their requirement. {{Anita Agnihotri}}, |*Development Commissioner, SEEPZ*| and {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India*| were the guests of honour at the summit. %% {{Rajiv Jain Enumerates India’s Potential :}}$$ Citing the summit to be an effort to bring together prominent European retailers and leading Indian manufacturers under one roof, {{Rajiv Jain}}, |*Vice-Chairman*|, GJEPC in his speech said, |*“The Economist in its recent edition termed {{India}} as {{the fastest growing economy of 2009}}. The gems and jewellery sector was one of the highest contributors to this robust economy accounting for 14 per cent of the total merchandise in exports. Diamonds contribute around 68 per cent of the gems and jewellery export basket, gold contributing 27 per cent, colored gemstones and others one per cent each. India is a world leader in diamond manufacturing with 60 per cent in value and 85 per cent in volume. The industry produces gemstones, both small and large, in all shapes and sizes. India today accounts for 26 per cent of DTC sales of goods. The country is the largest consumer of gold with nearly 800 tonnes of gold consumed per annum accounting for 20 per cent of world’s gold consumption. India is now emerging as the world’s largest trading centre of gold targeting US $ 16bn by 2010. The industry employs workforce of 1.5bn, while nurturing new talent everyday through our state-of-the-art institutes set up at six cities in India. Over the years, the gems and jewellery industry has successfully transformed itself from being a source of traditional jewellery to a hub of modern and contemporary jewellery conforming to western style and India’s craftsmanship which is recognised as best in the world. This summit will provide European guests exposure to the crème-de-la-crème of the Indian manufacturers who create masterpieces, and an opportunity to forge close business ties with the client. For Indian participants, the summit provides an opportunity to penetrate into the European markets and involve with some of the best European retailers in the world. This summit will give the manufacturers insight into the demands of European jewellery market. I therefore request the Indian manufacturer to make the most of it.”*|$$ He added, |*“GJEPC in its role of the trade facilitator has taken the onus to restore the Indian gem and jewellery industry after last year’s downturn and refurbish it to its former glory. With the exports figure steadily improving over the recent months, GJEPC is confident that through the platform provided by this summit, existing relation would be strengthened in the time ahead. The {{Santa Cruz Electronics Export Processing Zone}}, popularly known as SEEPZ, accounts for almost 30 percent of the Indian jewellery exports and is an important collaborator in this endeavour and they boast of the finest jewellery units of our country. I would like to conclude with the Indian gem and jewellery industry belief in proficiency, reliability, quality and is committed to its goal.”*|

{{Anita Agnihotri,}} Development Commissioner of SEEPZ, {{Rajiv Jain,}} Vice-Chairman, GJEPC (fourth from right), {{Spencer Mahony, }}first Secretary and Head UK Trade and Investment Western India British Deputy High Commission (in centre), {{Sohil Kothari,}} Director, Fine Jewellery Mfg. Ltd. (second from left) and {{Sabyasachi Ray,}} Executive Director, GJEPC (first from left) at the Indo-Euro Jewellery Summit, 2009 in Mumbai, |*along with other delegates*|

{{Stalwart Participants :}}$$ The summit saw around 11 leading European chains from countries like the UK, Spain, France, Germany, Italy, and Poland participating in a series of high level meetings with 15 foremost 15 Indian manufacturers. The Indian manufacturers comprised |*Bombay Jewellery Manufacturers, Dimpex Jewels Pvt. Ltd, Elegant Collection, Fine Jewellery Manufacturing Ltd, Gold Star Jewellery Ltd, Inter Gold (India) Pvt. Ltd, Intercarat Jewellery Pvt. Ltd, Jewel Art, Jewelex India Pvt. Ltd., KBS Designs, Mohit diamonds Pvt. Ltd., Patdiam Jewellery Pvt. Ltd., Priority Jewels Pvt. Ltd., Shankar Jewels Ltd., and Sunjewels International Ltd.*| All the participating manufacturing units are situated in an around SEEPZ, which houses over 160 gems and jewellery units representing more than 130 jewellery manufacturers, and exports over Rs. 7,000 crores worth gems and jewellery to other countries. %%

{{The Objective}}$$ Going beyond simply looking to supply competitively priced jewellery, as moderator of the summit, {{Hemant Shah,}} |*PM&BD,*| GJEPC, puts it, |*“The philosophy behind organizing such an event was to create an atmosphere where in a relaxed and easy manner buyers and sellers would get together to forge relationships rather than become a vendor and purchaser from business houses.”*| The objective of introducing the summit to focus on the European market was not to just substantially increase direct jewellery exports to the European sector, but to also expose the higher standard of services, jewellery manufacturing processes, supply chain, business practices and culture to the not so aware market in the European Union (EU). The summit provided a platform to Indian manufacturers to engage in meaningful discussions about critical business issues and explore opportunities for initiating distribution/supplies to leading chains/brands in Europe, explore possibility of displaying their brands for local consumers in EU outlets and explore acquisition of brands. %% {{Seminars & Meetings :}}$$ Various seminars and meeting were held during the five day summit. Among others, {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India,*| conducted the first session talking about Indo-Euro Forging New Relationships. While stating that the EU is India’s largest trading partner, and both the parties share a special relationship, Mahony said that with hopes of the free trade agreement between the EU and India coming into force sometime in 2010, the objective would be to double trade from for instance a $100 bn to $200bn. He also stated economic and political stability, the increasing purchasing power of the population in India as some of the reasons to build business relationships with Indian manufacturers. Talking of the Indian customer being more sophisticated and aware of the European tastes, Mahony said it is much easier for the Indian manufacturer to understand the European preferences and meet the customer’s needs. %% {{Factory Visits :}}$$ In addition, two-day boardroom discussions between the manufacturers and retailers were also organised. After the meetings, retailers could choose four manufacturers for factory visits on the subsequent days. This short listing was later on extended to six manufacturers in the wake of the enthusiasm among both the parties. %% {{European Experience :}}$$ Prior to the economic slowdown, the Indian jewellery fraternity had been very much dependent on the US. One year down the lane, the Indian industry is spreading its wings and exploring other bigger markets including the European Union. However, Europe has been a challenge. {{Filip Van Laere,}} |*CEO of Jewellers of Europe,*| who has been acting as a liaison between the Indian jewellery industry and the European retailers says, |*“We had been fighting a little bit uphill in the last year with these retailers. Traditionally Europeans feel slightly awkward about Indian products. There has been some issues in the past regarding style, quality, design, service levels. People tended to remember the bad experiences more before looking at the new opportunities which the modern Indian jewellery companies had to offer.” *|%% {{SEEPZ Surprised the Guests !}}$$ So the question arises – Have the European retailers’ perceptions changed?{{Filip}} says, |*“For someone who has moved between Indian reality and European expectations, I would like to say is that we managed to replace the old picture of jewellery manufacturing in India with something new. I think when people visited the factories in SEEPZ, the surprise was probably even higher.”*|%% Does he expect a good business relationship? According to Filip, |*“I have always thought that three things happen – first it is people, then it is business and finally profits. Therefore, as of now, it is people meeting professionals and being connected. It is about understandi

{{What Indian manufacturers said…}}%% |*“It was a fantastic platform as we had one to one meetings with all the retailers. I am very sure this immediate interaction will translate into a business relationship very soon definitely in 2010 looking at the response we have. There is good potential. I am happy.”*|$$ {{|*-Ranak Patel, Managing Director, Inter Carat Jewelry Pvt. Ltd.*|}} %% |*“This is a very unique one of its kind event and I think of this as a precursor to a selling group rather than a buyer group about the way the world is moving towards consolidating partnerships. It was a great event and I hope to see more such events in future as well.”*$$| {{|*-Nihar Mehta, Partner, Bombay Jewellery Manufacturers*|}}%% |*“I would definitely like to say that this platform of bringing manufacturers as a group and representing India as an industry was a strong and correct move.”*$$| {{|*-Sohil Kothari, Director, Fine Jewellery Manufacturing Limited*|}}%% |*“To personally contact each of the retailers and try penetrating their offices would have been a difficult thing. But this summit has helped our company a lot and I hope to see such platforms more and more.”*$$| {{|* -Shailesh Sangani , Managing Director, Priority Jewels Pvt. Ltd.*|}}%% {{|*… And the Europeans feedback…*|}}%% |*“Technology has certainly developed very much. We found many good jewellery pieces of India that are ready to be used in my country. Perhaps you need not concentrate only on diamonds, but could produce some models in gold.”*$$| {{|*-Michal Marek Kwiatkiewicz, President of Board, Yes Bizuteria, Poland*|}}%% |*“It is more a case of tastes being made more suitable for our market at a particular level, which is happening for the last few years. It would not be a problem.”*|$$ {{|*-Andrew Frank Hinds, Director, F Hinds, U.K.*|}}%% |*“The summit was too short. We met many good people. However, I do wish we had more time to see all of them and to go maybe further in the relationship.”*|$$ {{|*-Claire Caillard, Managing Director, Club des Joailliers createurs, France*|}}%% |*“For my market I found the designs were perfect. As we need more exclusive and new lines, I feel the Indian manufacturers would be able to do it. I think the designs should sell.”*|$$ {{|*-Oscar Miguel Perez Canalejo, Purchase Manager, Jose Luis Joyerias, Spain *|}}

{{Conclusion}}%% {{Brand India Pushed :}}$$ |*“The Indian gem and jewellery industry has been able to break ice in a market that has traditionally considered India as a hot house of manufacturing rather than a creator of fine jewellery,”*| says {{Hemant Shah}}.|* “ Although they had preconceived notions about India, the retailers came here with a very open mind and that has what helped them to realise far more quickly and make it easier for the Indian manufacturer to prove that Indian manufacturing is substantial, has quality, and has professionalized itself.”*| He goes on to say,|* “I believe that this kind of event would be the first step towards creating something that we wanted to create over the past few years and that is Brand India image. This is the starting point for us to go out in the world and say that we arrive as Indian manufacturers.”*|%% As hopes of further talks translating into long-term business alliances and eventually profits is in the air, a need for improvements in the design and style to cater to the European market has been revealed. Nonetheless, the summit has been a stepping-stone for both the European Union and India to building new alliances and enhancing the existing business partnerships, repositioning the Indian jewellery manufacturing industry as a world leader on the global map.

The {{Gem & Jewellery Export Promotion Council (GJEPC)}} hosted the first Indo-European Jewellery Summit, which was held at the Renaissance Mumbai Hotel and Convention Centre between 18 and 22 November, 2009. It was hoped that through the five-day summit, major markets like Europe actively recognize the power of Indian Jewellery manufacturing and source their requirement. {{Anita Agnihotri}}, |*Development Commissioner, SEEPZ*| and {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India*| were the guests of honour at the summit. %% {{Rajiv Jain Enumerates India’s Potential :}}$$ Citing the summit to be an effort to bring together prominent European retailers and leading Indian manufacturers under one roof, {{Rajiv Jain}}, |*Vice-Chairman*|, GJEPC in his speech said, |*“The Economist in its recent edition termed {{India}} as {{the fastest growing economy of 2009}}. The gems and jewellery sector was one of the highest contributors to this robust economy accounting for 14 per cent of the total merchandise in exports. Diamonds contribute around 68 per cent of the gems and jewellery export basket, gold contributing 27 per cent, colored gemstones and others one per cent each. India is a world leader in diamond manufacturing with 60 per cent in value and 85 per cent in volume. The industry produces gemstones, both small and large, in all shapes and sizes. India today accounts for 26 per cent of DTC sales of goods. The country is the largest consumer of gold with nearly 800 tonnes of gold consumed per annum accounting for 20 per cent of world’s gold consumption. India is now emerging as the world’s largest trading centre of gold targeting US $ 16bn by 2010. The industry employs workforce of 1.5bn, while nurturing new talent everyday through our state-of-the-art institutes set up at six cities in India. Over the years, the gems and jewellery industry has successfully transformed itself from being a source of traditional jewellery to a hub of modern and contemporary jewellery conforming to western style and India’s craftsmanship which is recognised as best in the world. This summit will provide European guests exposure to the crème-de-la-crème of the Indian manufacturers who create masterpieces, and an opportunity to forge close business ties with the client. For Indian participants, the summit provides an opportunity to penetrate into the European markets and involve with some of the best European retailers in the world. This summit will give the manufacturers insight into the demands of European jewellery market. I therefore request the Indian manufacturer to make the most of it.”*|$$ He added, |*“GJEPC in its role of the trade facilitator has taken the onus to restore the Indian gem and jewellery industry after last year’s downturn and refurbish it to its former glory. With the exports figure steadily improving over the recent months, GJEPC is confident that through the platform provided by this summit, existing relation would be strengthened in the time ahead. The {{Santa Cruz Electronics Export Processing Zone}}, popularly known as SEEPZ, accounts for almost 30 percent of the Indian jewellery exports and is an important collaborator in this endeavour and they boast of the finest jewellery units of our country. I would like to conclude with the Indian gem and jewellery industry belief in proficiency, reliability, quality and is committed to its goal.”*|

{{Anita Agnihotri,}} Development Commissioner of SEEPZ, {{Rajiv Jain,}} Vice-Chairman, GJEPC (fourth from right), {{Spencer Mahony, }}first Secretary and Head UK Trade and Investment Western India British Deputy High Commission (in centre), {{Sohil Kothari,}} Director, Fine Jewellery Mfg. Ltd. (second from left) and {{Sabyasachi Ray,}} Executive Director, GJEPC (first from left) at the Indo-Euro Jewellery Summit, 2009 in Mumbai, |*along with other delegates*|

{{Stalwart Participants :}}$$ The summit saw around 11 leading European chains from countries like the UK, Spain, France, Germany, Italy, and Poland participating in a series of high level meetings with 15 foremost 15 Indian manufacturers. The Indian manufacturers comprised |*Bombay Jewellery Manufacturers, Dimpex Jewels Pvt. Ltd, Elegant Collection, Fine Jewellery Manufacturing Ltd, Gold Star Jewellery Ltd, Inter Gold (India) Pvt. Ltd, Intercarat Jewellery Pvt. Ltd, Jewel Art, Jewelex India Pvt. Ltd., KBS Designs, Mohit diamonds Pvt. Ltd., Patdiam Jewellery Pvt. Ltd., Priority Jewels Pvt. Ltd., Shankar Jewels Ltd., and Sunjewels International Ltd.*| All the participating manufacturing units are situated in an around SEEPZ, which houses over 160 gems and jewellery units representing more than 130 jewellery manufacturers, and exports over Rs. 7,000 crores worth gems and jewellery to other countries. %%

{{The Objective}}$$ Going beyond simply looking to supply competitively priced jewellery, as moderator of the summit, {{Hemant Shah,}} |*PM&BD,*| GJEPC, puts it, |*“The philosophy behind organizing such an event was to create an atmosphere where in a relaxed and easy manner buyers and sellers would get together to forge relationships rather than become a vendor and purchaser from business houses.”*| The objective of introducing the summit to focus on the European market was not to just substantially increase direct jewellery exports to the European sector, but to also expose the higher standard of services, jewellery manufacturing processes, supply chain, business practices and culture to the not so aware market in the European Union (EU). The summit provided a platform to Indian manufacturers to engage in meaningful discussions about critical business issues and explore opportunities for initiating distribution/supplies to leading chains/brands in Europe, explore possibility of displaying their brands for local consumers in EU outlets and explore acquisition of brands. %% {{Seminars & Meetings :}}$$ Various seminars and meeting were held during the five day summit. Among others, {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India,*| conducted the first session talking about Indo-Euro Forging New Relationships. While stating that the EU is India’s largest trading partner, and both the parties share a special relationship, Mahony said that with hopes of the free trade agreement between the EU and India coming into force sometime in 2010, the objective would be to double trade from for instance a $100 bn to $200bn. He also stated economic and political stability, the increasing purchasing power of the population in India as some of the reasons to build business relationships with Indian manufacturers. Talking of the Indian customer being more sophisticated and aware of the European tastes, Mahony said it is much easier for the Indian manufacturer to understand the European preferences and meet the customer’s needs. %% {{Factory Visits :}}$$ In addition, two-day boardroom discussions between the manufacturers and retailers were also organised. After the meetings, retailers could choose four manufacturers for factory visits on the subsequent days. This short listing was later on extended to six manufacturers in the wake of the enthusiasm among both the parties. %% {{European Experience :}}$$ Prior to the economic slowdown, the Indian jewellery fraternity had been very much dependent on the US. One year down the lane, the Indian industry is spreading its wings and exploring other bigger markets including the European Union. However, Europe has been a challenge. {{Filip Van Laere,}} |*CEO of Jewellers of Europe,*| who has been acting as a liaison between the Indian jewellery industry and the European retailers says, |*“We had been fighting a little bit uphill in the last year with these retailers. Traditionally Europeans feel slightly awkward about Indian products. There has been some issues in the past regarding style, quality, design, service levels. People tended to remember the bad experiences more before looking at the new opportunities which the modern Indian jewellery companies had to offer.” *|%% {{SEEPZ Surprised the Guests !}}$$ So the question arises – Have the European retailers’ perceptions changed?{{Filip}} says, |*“For someone who has moved between Indian reality and European expectations, I would like to say is that we managed to replace the old picture of jewellery manufacturing in India with something new. I think when people visited the factories in SEEPZ, the surprise was probably even higher.”*|%% Does he expect a good business relationship? According to Filip, |*“I have always thought that three things happen – first it is people, then it is business and finally profits. Therefore, as of now, it is people meeting professionals and being connected. It is about understandi

{{What Indian manufacturers said…}}%% |*“It was a fantastic platform as we had one to one meetings with all the retailers. I am very sure this immediate interaction will translate into a business relationship very soon definitely in 2010 looking at the response we have. There is good potential. I am happy.”*|$$ {{|*-Ranak Patel, Managing Director, Inter Carat Jewelry Pvt. Ltd.*|}} %% |*“This is a very unique one of its kind event and I think of this as a precursor to a selling group rather than a buyer group about the way the world is moving towards consolidating partnerships. It was a great event and I hope to see more such events in future as well.”*$$| {{|*-Nihar Mehta, Partner, Bombay Jewellery Manufacturers*|}}%% |*“I would definitely like to say that this platform of bringing manufacturers as a group and representing India as an industry was a strong and correct move.”*$$| {{|*-Sohil Kothari, Director, Fine Jewellery Manufacturing Limited*|}}%% |*“To personally contact each of the retailers and try penetrating their offices would have been a difficult thing. But this summit has helped our company a lot and I hope to see such platforms more and more.”*$$| {{|* -Shailesh Sangani , Managing Director, Priority Jewels Pvt. Ltd.*|}}%% {{|*… And the Europeans feedback…*|}}%% |*“Technology has certainly developed very much. We found many good jewellery pieces of India that are ready to be used in my country. Perhaps you need not concentrate only on diamonds, but could produce some models in gold.”*$$| {{|*-Michal Marek Kwiatkiewicz, President of Board, Yes Bizuteria, Poland*|}}%% |*“It is more a case of tastes being made more suitable for our market at a particular level, which is happening for the last few years. It would not be a problem.”*|$$ {{|*-Andrew Frank Hinds, Director, F Hinds, U.K.*|}}%% |*“The summit was too short. We met many good people. However, I do wish we had more time to see all of them and to go maybe further in the relationship.”*|$$ {{|*-Claire Caillard, Managing Director, Club des Joailliers createurs, France*|}}%% |*“For my market I found the designs were perfect. As we need more exclusive and new lines, I feel the Indian manufacturers would be able to do it. I think the designs should sell.”*|$$ {{|*-Oscar Miguel Perez Canalejo, Purchase Manager, Jose Luis Joyerias, Spain *|}}

{{Conclusion}}%% {{Brand India Pushed :}}$$ |*“The Indian gem and jewellery industry has been able to break ice in a market that has traditionally considered India as a hot house of manufacturing rather than a creator of fine jewellery,”*| says {{Hemant Shah}}.|* “ Although they had preconceived notions about India, the retailers came here with a very open mind and that has what helped them to realise far more quickly and make it easier for the Indian manufacturer to prove that Indian manufacturing is substantial, has quality, and has professionalized itself.”*| He goes on to say,|* “I believe that this kind of event would be the first step towards creating something that we wanted to create over the past few years and that is Brand India image. This is the starting point for us to go out in the world and say that we arrive as Indian manufacturers.”*|%% As hopes of further talks translating into long-term business alliances and eventually profits is in the air, a need for improvements in the design and style to cater to the European market has been revealed. Nonetheless, the summit has been a stepping-stone for both the European Union and India to building new alliances and enhancing the existing business partnerships, repositioning the Indian jewellery manufacturing industry as a world leader on the global map.

The {{Gem & Jewellery Export Promotion Council (GJEPC)}} hosted the first Indo-European Jewellery Summit, which was held at the Renaissance Mumbai Hotel and Convention Centre between 18 and 22 November, 2009. It was hoped that through the five-day summit, major markets like Europe actively recognize the power of Indian Jewellery manufacturing and source their requirement. {{Anita Agnihotri}}, |*Development Commissioner, SEEPZ*| and {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India*| were the guests of honour at the summit. %% {{Rajiv Jain Enumerates India’s Potential :}}$$ Citing the summit to be an effort to bring together prominent European retailers and leading Indian manufacturers under one roof, {{Rajiv Jain}}, |*Vice-Chairman*|, GJEPC in his speech said, |*“The Economist in its recent edition termed {{India}} as {{the fastest growing economy of 2009}}. The gems and jewellery sector was one of the highest contributors to this robust economy accounting for 14 per cent of the total merchandise in exports. Diamonds contribute around 68 per cent of the gems and jewellery export basket, gold contributing 27 per cent, colored gemstones and others one per cent each. India is a world leader in diamond manufacturing with 60 per cent in value and 85 per cent in volume. The industry produces gemstones, both small and large, in all shapes and sizes. India today accounts for 26 per cent of DTC sales of goods. The country is the largest consumer of gold with nearly 800 tonnes of gold consumed per annum accounting for 20 per cent of world’s gold consumption. India is now emerging as the world’s largest trading centre of gold targeting US $ 16bn by 2010. The industry employs workforce of 1.5bn, while nurturing new talent everyday through our state-of-the-art institutes set up at six cities in India. Over the years, the gems and jewellery industry has successfully transformed itself from being a source of traditional jewellery to a hub of modern and contemporary jewellery conforming to western style and India’s craftsmanship which is recognised as best in the world. This summit will provide European guests exposure to the crème-de-la-crème of the Indian manufacturers who create masterpieces, and an opportunity to forge close business ties with the client. For Indian participants, the summit provides an opportunity to penetrate into the European markets and involve with some of the best European retailers in the world. This summit will give the manufacturers insight into the demands of European jewellery market. I therefore request the Indian manufacturer to make the most of it.”*|$$ He added, |*“GJEPC in its role of the trade facilitator has taken the onus to restore the Indian gem and jewellery industry after last year’s downturn and refurbish it to its former glory. With the exports figure steadily improving over the recent months, GJEPC is confident that through the platform provided by this summit, existing relation would be strengthened in the time ahead. The {{Santa Cruz Electronics Export Processing Zone}}, popularly known as SEEPZ, accounts for almost 30 percent of the Indian jewellery exports and is an important collaborator in this endeavour and they boast of the finest jewellery units of our country. I would like to conclude with the Indian gem and jewellery industry belief in proficiency, reliability, quality and is committed to its goal.”*|

{{Anita Agnihotri,}} Development Commissioner of SEEPZ, {{Rajiv Jain,}} Vice-Chairman, GJEPC (fourth from right), {{Spencer Mahony, }}first Secretary and Head UK Trade and Investment Western India British Deputy High Commission (in centre), {{Sohil Kothari,}} Director, Fine Jewellery Mfg. Ltd. (second from left) and {{Sabyasachi Ray,}} Executive Director, GJEPC (first from left) at the Indo-Euro Jewellery Summit, 2009 in Mumbai, |*along with other delegates*|

{{Stalwart Participants :}}$$ The summit saw around 11 leading European chains from countries like the UK, Spain, France, Germany, Italy, and Poland participating in a series of high level meetings with 15 foremost 15 Indian manufacturers. The Indian manufacturers comprised |*Bombay Jewellery Manufacturers, Dimpex Jewels Pvt. Ltd, Elegant Collection, Fine Jewellery Manufacturing Ltd, Gold Star Jewellery Ltd, Inter Gold (India) Pvt. Ltd, Intercarat Jewellery Pvt. Ltd, Jewel Art, Jewelex India Pvt. Ltd., KBS Designs, Mohit diamonds Pvt. Ltd., Patdiam Jewellery Pvt. Ltd., Priority Jewels Pvt. Ltd., Shankar Jewels Ltd., and Sunjewels International Ltd.*| All the participating manufacturing units are situated in an around SEEPZ, which houses over 160 gems and jewellery units representing more than 130 jewellery manufacturers, and exports over Rs. 7,000 crores worth gems and jewellery to other countries. %%

{{The Objective}}$$ Going beyond simply looking to supply competitively priced jewellery, as moderator of the summit, {{Hemant Shah,}} |*PM&BD,*| GJEPC, puts it, |*“The philosophy behind organizing such an event was to create an atmosphere where in a relaxed and easy manner buyers and sellers would get together to forge relationships rather than become a vendor and purchaser from business houses.”*| The objective of introducing the summit to focus on the European market was not to just substantially increase direct jewellery exports to the European sector, but to also expose the higher standard of services, jewellery manufacturing processes, supply chain, business practices and culture to the not so aware market in the European Union (EU). The summit provided a platform to Indian manufacturers to engage in meaningful discussions about critical business issues and explore opportunities for initiating distribution/supplies to leading chains/brands in Europe, explore possibility of displaying their brands for local consumers in EU outlets and explore acquisition of brands. %% {{Seminars & Meetings :}}$$ Various seminars and meeting were held during the five day summit. Among others, {{Spencer Mahony}}, |*First Secretary, UK Trade & Investment, Western India,*| conducted the first session talking about Indo-Euro Forging New Relationships. While stating that the EU is India’s largest trading partner, and both the parties share a special relationship, Mahony said that with hopes of the free trade agreement between the EU and India coming into force sometime in 2010, the objective would be to double trade from for instance a $100 bn to $200bn. He also stated economic and political stability, the increasing purchasing power of the population in India as some of the reasons to build business relationships with Indian manufacturers. Talking of the Indian customer being more sophisticated and aware of the European tastes, Mahony said it is much easier for the Indian manufacturer to understand the European preferences and meet the customer’s needs. %% {{Factory Visits :}}$$ In addition, two-day boardroom discussions between the manufacturers and retailers were also organised. After the meetings, retailers could choose four manufacturers for factory visits on the subsequent days. This short listing was later on extended to six manufacturers in the wake of the enthusiasm among both the parties. %% {{European Experience :}}$$ Prior to the economic slowdown, the Indian jewellery fraternity had been very much dependent on the US. One year down the lane, the Indian industry is spreading its wings and exploring other bigger markets including the European Union. However, Europe has been a challenge. {{Filip Van Laere,}} |*CEO of Jewellers of Europe,*| who has been acting as a liaison between the Indian jewellery industry and the European retailers says, |*“We had been fighting a little bit uphill in the last year with these retailers. Traditionally Europeans feel slightly awkward about Indian products. There has been some issues in the past regarding style, quality, design, service levels. People tended to remember the bad experiences more before looking at the new opportunities which the modern Indian jewellery companies had to offer.” *|%% {{SEEPZ Surprised the Guests !}}$$ So the question arises – Have the European retailers’ perceptions changed?{{Filip}} says, |*“For someone who has moved between Indian reality and European expectations, I would like to say is that we managed to replace the old picture of jewellery manufacturing in India with something new. I think when people visited the factories in SEEPZ, the surprise was probably even higher.”*|%% Does he expect a good business relationship? According to Filip, |*“I have always thought that three things happen – first it is people, then it is business and finally profits. Therefore, as of now, it is people meeting professionals and being connected. It is about understandi

{{What Indian manufacturers said…}}%% |*“It was a fantastic platform as we had one to one meetings with all the retailers. I am very sure this immediate interaction will translate into a business relationship very soon definitely in 2010 looking at the response we have. There is good potential. I am happy.”*|$$ {{|*-Ranak Patel, Managing Director, Inter Carat Jewelry Pvt. Ltd.*|}} %% |*“This is a very unique one of its kind event and I think of this as a precursor to a selling group rather than a buyer group about the way the world is moving towards consolidating partnerships. It was a great event and I hope to see more such events in future as well.”*$$| {{|*-Nihar Mehta, Partner, Bombay Jewellery Manufacturers*|}}%% |*“I would definitely like to say that this platform of bringing manufacturers as a group and representing India as an industry was a strong and correct move.”*$$| {{|*-Sohil Kothari, Director, Fine Jewellery Manufacturing Limited*|}}%% |*“To personally contact each of the retailers and try penetrating their offices would have been a difficult thing. But this summit has helped our company a lot and I hope to see such platforms more and more.”*$$| {{|* -Shailesh Sangani , Managing Director, Priority Jewels Pvt. Ltd.*|}}%% {{|*… And the Europeans feedback…*|}}%% |*“Technology has certainly developed very much. We found many good jewellery pieces of India that are ready to be used in my country. Perhaps you need not concentrate only on diamonds, but could produce some models in gold.”*$$| {{|*-Michal Marek Kwiatkiewicz, President of Board, Yes Bizuteria, Poland*|}}%% |*“It is more a case of tastes being made more suitable for our market at a particular level, which is happening for the last few years. It would not be a problem.”*|$$ {{|*-Andrew Frank Hinds, Director, F Hinds, U.K.*|}}%% |*“The summit was too short. We met many good people. However, I do wish we had more time to see all of them and to go maybe further in the relationship.”*|$$ {{|*-Claire Caillard, Managing Director, Club des Joailliers createurs, France*|}}%% |*“For my market I found the designs were perfect. As we need more exclusive and new lines, I feel the Indian manufacturers would be able to do it. I think the designs should sell.”*|$$ {{|*-Oscar Miguel Perez Canalejo, Purchase Manager, Jose Luis Joyerias, Spain *|}}

{{Conclusion}}%% {{Brand India Pushed :}}$$ |*“The Indian gem and jewellery industry has been able to break ice in a market that has traditionally considered India as a hot house of manufacturing rather than a creator of fine jewellery,”*| says {{Hemant Shah}}.|* “ Although they had preconceived notions about India, the retailers came here with a very open mind and that has what helped them to realise far more quickly and make it easier for the Indian manufacturer to prove that Indian manufacturing is substantial, has quality, and has professionalized itself.”*| He goes on to say,|* “I believe that this kind of event would be the first step towards creating something that we wanted to create over the past few years and that is Brand India image. This is the starting point for us to go out in the world and say that we arrive as Indian manufacturers.”*|%% As hopes of further talks translating into long-term business alliances and eventually profits is in the air, a need for improvements in the design and style to cater to the European market has been revealed. Nonetheless, the summit has been a stepping-stone for both the European Union and India to building new alliances and enhancing the existing business partnerships, repositioning the Indian jewellery manufacturing industry as a world leader on the global map.