Visit Ahmedabad, and there is plenty that catches the eye. The city, thanks to some very efficient administration, now boasts infrastructure to compete with the best cities of the world, industrial development that is touching new highs and cleanliness that is almost antiseptic in nature. What is more, the city’s denizens now have increased spending power, and do not mind spending it on the best luxury goods. The jewellery trade in Ahmedabad has always been strong, feel traders, and now even more so – obviously, because even by conservative estimates, the number of jewellery retailers in the city touches a whopping 1500. %% Ahmedabad has a centuries-old tradition of jewellery manufacturing and trade. Jewellery manufactured here is renowned for its excellent quality. Exports to the world and sales to all parts of the country form a major chunk of the jewellery trade here. The most popular styles of jewellery have been and still are jadau, antique, vilandi and kundan meena. %% Today, in the time of rising gold prices, an old skill of the craftsmen is also proving to be particularly handy. Says Manoj Soni of AB Jewels, “Lightweight jewellery in traditional designs is very well-known here. This is created by using dies for the different motifs such as the kairi, the peacock, the flower, the leaf and so on. The craftsmen here were renowned for their mastery in creating the dies used for this type of jewellery which looks heavy but is actually very light. In fact, they still are known for this art.” %% While in earlier times, the main areas for trade were the City area comprising Manek Chowk and Ratanpole, now retailing, in particular, has developed throughout the city. CG Road and Satellite Road are the major hubs of development – CG Road itself boasts a staggering 200 odd retailers, while Satellite Road has all the big names – like TBZ and Tanishq amongst them – vying for the customer’s attention. As Shalin Shah of Sherly Jewels explains, “Ahmedabad is a large manufacturing centre for the gems and jewellery industry. It is especially well known for its diamond business – there are many diamond cutting units. Diamond jewellery manufacture here is a large business with large stores and several manufacturers. On the retail side, the market is very old – there are some shops in the old City area that are more than a century old!” %% Obviously, with such a rich tradition of manufacturing and retail, the Ahmedabad customer is a great jewellery aficionado, agree jewellers. “Handmade jewellery is very popular. While earlier high-end jewellery was not available, demand is picking up gradually. The customer base is varied and preferences are very wide-ranging. Traditional jewellery rules the roost – you will find very few modern, contemporary designs here – and those which are in stock are only for trial. People will come in, try out the modern, glamorous looking pieces and then purchase the traditional one,” says Manoj smiling.

Sanjay Kumar Soni of Panchratna Jewellers explains, “We have to stock up on all types of jewellery – traditional and Indo-western. Jewellery is more often than not bought for investment. %% Also, we have seen an increase in the purchase of engagement rings in the last two to three years – this is in particular a booming market, with lots of new styles coming in. Jewellery for gifting is another avenue here.” %% Shalin says the emphasis is on jewellery that is bought for investment, “If there are two designs of the same type, and if one has more investment value, then be sure that the Amdavadi will buy the investment value piece – the weightage for investment over design is tremendous here. As far as design is concerned, tradition rules with yellow gold and white gold most in demand.” %% Clearly the city is a fabulous place to do business – as Ashish Panchal of Anjalee Jewellers says on a lighter note: “Asking us why Ahmedabad is a good city to do business is like asking us why we like to live in our homes.” He continues to say, “But jokes apart, people from all segments live here – from the super rich to the lower middle class. What is common is the huge requirement for jewellery of all kinds. From Rs. 5000 to Rs. 5 lakhs, everything sells here. Developed infrastructure is a very big factor that makes it a good place to be in.“ %% Manoj agrees: “The opportunities here are tremendous. The city has developed a lot, and the facilities offered for business are very comprehensive. Certification, hallmarking, melting of gold, angadiya work – all can be carried out easily, making it very convenient for anyone to conduct their business.” This much-talked about development has taken place in the last six to seven years. As Sanjay puts it, “Thanks to the government’s policies, planning and execution, the term ‘off-season’ has become defunct. We are no longer solely dependent on the festive season either – sales are good throughout the year.” Shalin loves the variety in clientele that is found here. He says, “There are the NRIs, there are the people from the neighbouring smaller cities like Vadodara, Nadiad et al who come here to purchase jewellery. And then there is the local populace – so there is a lot of scope here.” The best part is that volatile prices of precious metals and gemstones are not affecting either customer or jeweller – both remain upbeat. One reason for this is the propensity of the customer to buy jewellery for every occasion – all festivals, however small and insignificant they may be, bring with them jewellery purchase of some sort. The retailer has never to fear for lack of demand. Likewise, the customer too has to buy, come what may – festivals like Navratri, Diwali and Akshaya Tritiya and weddings are must-buy occasions. %%

As retailers, we have to be prepared to handle the volatile market and the rumours about the prices. – Manoj Soni

Thanks to the government’s policies, planning and execution, the term ‘off-season’ has become defunct. – Sanjay Kumar Soni

If there are two designs of the same type, and if one has more investment value, then be sure that the Amdavadi will buy the investment value piece. – Shalin Shah

{{IGI Opens Diamond Lab in City}}%% The recent opening of an IGI lab focused on the certification of diamond jewellery in the city, reflects the strong growth of the diamond jewellery market. %% Even as retailers agree on Ahmedabad being a great place to do business in, one recent event has well and truly put the spotlight on the city’s emergence as a jewellery trade centre of great importance – the opening of the 1500 sq. ft IGI facility smack in the middle of bustling CG Road. What is interesting to note is that this is the IGI’s ninth centre in the country and the second in Gujarat state – clearly this is not a coincidence – there were strong reasons that made the IGI open up a centre in Ahmedabad. %% The inauguration of the Ahmedabad facility was attended by Shantibhai Mehta from GJTCI and other leading jewellers from the city. Many of them carried a few samples from their stores for certification. %% Explaining the rationale behind choosing Ahmedabad, Tehmasp Printer, MD, IGI-India, says, “Gujarat is one of the key diamond markets in western India and Ahmedabad has seen growth rates of more than 20 per cent, which is slightly ahead of the all-India average. While our Surat facility last year was opened to facilitate certification of loose stones for the main manufacturers, the Ahmedabad lab targets the growing retail trade and will be certifying jewellery only. It does have a window through which loose stones can be submitted for certification at Surat. Ahmedabad is a major redistribution centre for diamond jewellery to different parts of the state, and is strategically placed to meet the demand from Saurashtra.“ %% Printer also reiterates that the Ahmedabad consumer places a high premium on quality, rather than size, and so there is a growing demand for certification. This has prompted them to include a classroom on the IGI premises where courses will be conducted for retailers, their staff and even select consumers – another indication of a rapidly burgeoning market. A good move considering that on the day of the inauguration itself, nearly 100 High Net Worth clients of leading retailer Sherly Jewels attended a “Know Your Diamonds” programme conducted by Ramit Kapur, GM, IGI-India.

Says Manoj, “Akshaya Tritiya was a complete blockbuster for us this year – of course, as a retailer we have to be prepared to handle the volatile market and the rumours about the prices.” As Ashish puts it, “We are not seeing any difference in sales, though the volume comes down a little for those who can spend on a fixed budget only.” Investors are a little more affected, feels Sanjay, saying, “Investors are more sensitive to price unpredictability, and nearly 35 per cent of consumers are investors. In such a scenario, discounts and sales are even more valued.” %% Not surprisingly, the Ahmedabad jeweller is very optimistic about growth opportunities here. “Growth is going to be dependent on the prices, and the variety in designs we offer. See, in Ahmedabad, a lot of jewellery is purchased for weddings. In communities like the Marwaris and the Patels, sometimes more than 100 tolas of gold is gifted at weddings for the girl’s trousseau alone – the dowry portion is separate! Even after marriage, there are plenty of occasions where jewellery is gifted. So this market is always going to remain strong here,” explains Ashish. %% Sanjay sums up the market mood by saying, “Awareness is increasing a lot and customercentric services need a lot of attention, if we need to grow. Ambience, designs, product value, customer good will, market reputation – all these matter a lot now as the market is growing by leaps and bounds.” %% Frugality, hard-nosed business sense, humility and great respect for the business and the customer are qualities that the typical Amdavadi trader is known for. And based on these strong principles, the jewellery trade in this city looks more than set to take a giant leap forward. %%

Visit Ahmedabad, and there is plenty that catches the eye. The city, thanks to some very efficient administration, now boasts infrastructure to compete with the best cities of the world, industrial development that is touching new highs and cleanliness that is almost antiseptic in nature. What is more, the city’s denizens now have increased spending power, and do not mind spending it on the best luxury goods. The jewellery trade in Ahmedabad has always been strong, feel traders, and now even more so – obviously, because even by conservative estimates, the number of jewellery retailers in the city touches a whopping 1500. %% Ahmedabad has a centuries-old tradition of jewellery manufacturing and trade. Jewellery manufactured here is renowned for its excellent quality. Exports to the world and sales to all parts of the country form a major chunk of the jewellery trade here. The most popular styles of jewellery have been and still are jadau, antique, vilandi and kundan meena. %% Today, in the time of rising gold prices, an old skill of the craftsmen is also proving to be particularly handy. Says Manoj Soni of AB Jewels, “Lightweight jewellery in traditional designs is very well-known here. This is created by using dies for the different motifs such as the kairi, the peacock, the flower, the leaf and so on. The craftsmen here were renowned for their mastery in creating the dies used for this type of jewellery which looks heavy but is actually very light. In fact, they still are known for this art.” %% While in earlier times, the main areas for trade were the City area comprising Manek Chowk and Ratanpole, now retailing, in particular, has developed throughout the city. CG Road and Satellite Road are the major hubs of development – CG Road itself boasts a staggering 200 odd retailers, while Satellite Road has all the big names – like TBZ and Tanishq amongst them – vying for the customer’s attention. As Shalin Shah of Sherly Jewels explains, “Ahmedabad is a large manufacturing centre for the gems and jewellery industry. It is especially well known for its diamond business – there are many diamond cutting units. Diamond jewellery manufacture here is a large business with large stores and several manufacturers. On the retail side, the market is very old – there are some shops in the old City area that are more than a century old!” %% Obviously, with such a rich tradition of manufacturing and retail, the Ahmedabad customer is a great jewellery aficionado, agree jewellers. “Handmade jewellery is very popular. While earlier high-end jewellery was not available, demand is picking up gradually. The customer base is varied and preferences are very wide-ranging. Traditional jewellery rules the roost – you will find very few modern, contemporary designs here – and those which are in stock are only for trial. People will come in, try out the modern, glamorous looking pieces and then purchase the traditional one,” says Manoj smiling.

Sanjay Kumar Soni of Panchratna Jewellers explains, “We have to stock up on all types of jewellery – traditional and Indo-western. Jewellery is more often than not bought for investment. %% Also, we have seen an increase in the purchase of engagement rings in the last two to three years – this is in particular a booming market, with lots of new styles coming in. Jewellery for gifting is another avenue here.” %% Shalin says the emphasis is on jewellery that is bought for investment, “If there are two designs of the same type, and if one has more investment value, then be sure that the Amdavadi will buy the investment value piece – the weightage for investment over design is tremendous here. As far as design is concerned, tradition rules with yellow gold and white gold most in demand.” %% Clearly the city is a fabulous place to do business – as Ashish Panchal of Anjalee Jewellers says on a lighter note: “Asking us why Ahmedabad is a good city to do business is like asking us why we like to live in our homes.” He continues to say, “But jokes apart, people from all segments live here – from the super rich to the lower middle class. What is common is the huge requirement for jewellery of all kinds. From Rs. 5000 to Rs. 5 lakhs, everything sells here. Developed infrastructure is a very big factor that makes it a good place to be in.“ %% Manoj agrees: “The opportunities here are tremendous. The city has developed a lot, and the facilities offered for business are very comprehensive. Certification, hallmarking, melting of gold, angadiya work – all can be carried out easily, making it very convenient for anyone to conduct their business.” This much-talked about development has taken place in the last six to seven years. As Sanjay puts it, “Thanks to the government’s policies, planning and execution, the term ‘off-season’ has become defunct. We are no longer solely dependent on the festive season either – sales are good throughout the year.” Shalin loves the variety in clientele that is found here. He says, “There are the NRIs, there are the people from the neighbouring smaller cities like Vadodara, Nadiad et al who come here to purchase jewellery. And then there is the local populace – so there is a lot of scope here.” The best part is that volatile prices of precious metals and gemstones are not affecting either customer or jeweller – both remain upbeat. One reason for this is the propensity of the customer to buy jewellery for every occasion – all festivals, however small and insignificant they may be, bring with them jewellery purchase of some sort. The retailer has never to fear for lack of demand. Likewise, the customer too has to buy, come what may – festivals like Navratri, Diwali and Akshaya Tritiya and weddings are must-buy occasions. %%

As retailers, we have to be prepared to handle the volatile market and the rumours about the prices. – Manoj Soni

Thanks to the government’s policies, planning and execution, the term ‘off-season’ has become defunct. – Sanjay Kumar Soni

If there are two designs of the same type, and if one has more investment value, then be sure that the Amdavadi will buy the investment value piece. – Shalin Shah

{{IGI Opens Diamond Lab in City}}%% The recent opening of an IGI lab focused on the certification of diamond jewellery in the city, reflects the strong growth of the diamond jewellery market. %% Even as retailers agree on Ahmedabad being a great place to do business in, one recent event has well and truly put the spotlight on the city’s emergence as a jewellery trade centre of great importance – the opening of the 1500 sq. ft IGI facility smack in the middle of bustling CG Road. What is interesting to note is that this is the IGI’s ninth centre in the country and the second in Gujarat state – clearly this is not a coincidence – there were strong reasons that made the IGI open up a centre in Ahmedabad. %% The inauguration of the Ahmedabad facility was attended by Shantibhai Mehta from GJTCI and other leading jewellers from the city. Many of them carried a few samples from their stores for certification. %% Explaining the rationale behind choosing Ahmedabad, Tehmasp Printer, MD, IGI-India, says, “Gujarat is one of the key diamond markets in western India and Ahmedabad has seen growth rates of more than 20 per cent, which is slightly ahead of the all-India average. While our Surat facility last year was opened to facilitate certification of loose stones for the main manufacturers, the Ahmedabad lab targets the growing retail trade and will be certifying jewellery only. It does have a window through which loose stones can be submitted for certification at Surat. Ahmedabad is a major redistribution centre for diamond jewellery to different parts of the state, and is strategically placed to meet the demand from Saurashtra.“ %% Printer also reiterates that the Ahmedabad consumer places a high premium on quality, rather than size, and so there is a growing demand for certification. This has prompted them to include a classroom on the IGI premises where courses will be conducted for retailers, their staff and even select consumers – another indication of a rapidly burgeoning market. A good move considering that on the day of the inauguration itself, nearly 100 High Net Worth clients of leading retailer Sherly Jewels attended a “Know Your Diamonds” programme conducted by Ramit Kapur, GM, IGI-India.

Says Manoj, “Akshaya Tritiya was a complete blockbuster for us this year – of course, as a retailer we have to be prepared to handle the volatile market and the rumours about the prices.” As Ashish puts it, “We are not seeing any difference in sales, though the volume comes down a little for those who can spend on a fixed budget only.” Investors are a little more affected, feels Sanjay, saying, “Investors are more sensitive to price unpredictability, and nearly 35 per cent of consumers are investors. In such a scenario, discounts and sales are even more valued.” %% Not surprisingly, the Ahmedabad jeweller is very optimistic about growth opportunities here. “Growth is going to be dependent on the prices, and the variety in designs we offer. See, in Ahmedabad, a lot of jewellery is purchased for weddings. In communities like the Marwaris and the Patels, sometimes more than 100 tolas of gold is gifted at weddings for the girl’s trousseau alone – the dowry portion is separate! Even after marriage, there are plenty of occasions where jewellery is gifted. So this market is always going to remain strong here,” explains Ashish. %% Sanjay sums up the market mood by saying, “Awareness is increasing a lot and customercentric services need a lot of attention, if we need to grow. Ambience, designs, product value, customer good will, market reputation – all these matter a lot now as the market is growing by leaps and bounds.” %% Frugality, hard-nosed business sense, humility and great respect for the business and the customer are qualities that the typical Amdavadi trader is known for. And based on these strong principles, the jewellery trade in this city looks more than set to take a giant leap forward. %%

Visit Ahmedabad, and there is plenty that catches the eye. The city, thanks to some very efficient administration, now boasts infrastructure to compete with the best cities of the world, industrial development that is touching new highs and cleanliness that is almost antiseptic in nature. What is more, the city’s denizens now have increased spending power, and do not mind spending it on the best luxury goods. The jewellery trade in Ahmedabad has always been strong, feel traders, and now even more so – obviously, because even by conservative estimates, the number of jewellery retailers in the city touches a whopping 1500. %% Ahmedabad has a centuries-old tradition of jewellery manufacturing and trade. Jewellery manufactured here is renowned for its excellent quality. Exports to the world and sales to all parts of the country form a major chunk of the jewellery trade here. The most popular styles of jewellery have been and still are jadau, antique, vilandi and kundan meena. %% Today, in the time of rising gold prices, an old skill of the craftsmen is also proving to be particularly handy. Says Manoj Soni of AB Jewels, “Lightweight jewellery in traditional designs is very well-known here. This is created by using dies for the different motifs such as the kairi, the peacock, the flower, the leaf and so on. The craftsmen here were renowned for their mastery in creating the dies used for this type of jewellery which looks heavy but is actually very light. In fact, they still are known for this art.” %% While in earlier times, the main areas for trade were the City area comprising Manek Chowk and Ratanpole, now retailing, in particular, has developed throughout the city. CG Road and Satellite Road are the major hubs of development – CG Road itself boasts a staggering 200 odd retailers, while Satellite Road has all the big names – like TBZ and Tanishq amongst them – vying for the customer’s attention. As Shalin Shah of Sherly Jewels explains, “Ahmedabad is a large manufacturing centre for the gems and jewellery industry. It is especially well known for its diamond business – there are many diamond cutting units. Diamond jewellery manufacture here is a large business with large stores and several manufacturers. On the retail side, the market is very old – there are some shops in the old City area that are more than a century old!” %% Obviously, with such a rich tradition of manufacturing and retail, the Ahmedabad customer is a great jewellery aficionado, agree jewellers. “Handmade jewellery is very popular. While earlier high-end jewellery was not available, demand is picking up gradually. The customer base is varied and preferences are very wide-ranging. Traditional jewellery rules the roost – you will find very few modern, contemporary designs here – and those which are in stock are only for trial. People will come in, try out the modern, glamorous looking pieces and then purchase the traditional one,” says Manoj smiling.

Sanjay Kumar Soni of Panchratna Jewellers explains, “We have to stock up on all types of jewellery – traditional and Indo-western. Jewellery is more often than not bought for investment. %% Also, we have seen an increase in the purchase of engagement rings in the last two to three years – this is in particular a booming market, with lots of new styles coming in. Jewellery for gifting is another avenue here.” %% Shalin says the emphasis is on jewellery that is bought for investment, “If there are two designs of the same type, and if one has more investment value, then be sure that the Amdavadi will buy the investment value piece – the weightage for investment over design is tremendous here. As far as design is concerned, tradition rules with yellow gold and white gold most in demand.” %% Clearly the city is a fabulous place to do business – as Ashish Panchal of Anjalee Jewellers says on a lighter note: “Asking us why Ahmedabad is a good city to do business is like asking us why we like to live in our homes.” He continues to say, “But jokes apart, people from all segments live here – from the super rich to the lower middle class. What is common is the huge requirement for jewellery of all kinds. From Rs. 5000 to Rs. 5 lakhs, everything sells here. Developed infrastructure is a very big factor that makes it a good place to be in.“ %% Manoj agrees: “The opportunities here are tremendous. The city has developed a lot, and the facilities offered for business are very comprehensive. Certification, hallmarking, melting of gold, angadiya work – all can be carried out easily, making it very convenient for anyone to conduct their business.” This much-talked about development has taken place in the last six to seven years. As Sanjay puts it, “Thanks to the government’s policies, planning and execution, the term ‘off-season’ has become defunct. We are no longer solely dependent on the festive season either – sales are good throughout the year.” Shalin loves the variety in clientele that is found here. He says, “There are the NRIs, there are the people from the neighbouring smaller cities like Vadodara, Nadiad et al who come here to purchase jewellery. And then there is the local populace – so there is a lot of scope here.” The best part is that volatile prices of precious metals and gemstones are not affecting either customer or jeweller – both remain upbeat. One reason for this is the propensity of the customer to buy jewellery for every occasion – all festivals, however small and insignificant they may be, bring with them jewellery purchase of some sort. The retailer has never to fear for lack of demand. Likewise, the customer too has to buy, come what may – festivals like Navratri, Diwali and Akshaya Tritiya and weddings are must-buy occasions. %%

As retailers, we have to be prepared to handle the volatile market and the rumours about the prices. – Manoj Soni

Thanks to the government’s policies, planning and execution, the term ‘off-season’ has become defunct. – Sanjay Kumar Soni

If there are two designs of the same type, and if one has more investment value, then be sure that the Amdavadi will buy the investment value piece. – Shalin Shah

{{IGI Opens Diamond Lab in City}}%% The recent opening of an IGI lab focused on the certification of diamond jewellery in the city, reflects the strong growth of the diamond jewellery market. %% Even as retailers agree on Ahmedabad being a great place to do business in, one recent event has well and truly put the spotlight on the city’s emergence as a jewellery trade centre of great importance – the opening of the 1500 sq. ft IGI facility smack in the middle of bustling CG Road. What is interesting to note is that this is the IGI’s ninth centre in the country and the second in Gujarat state – clearly this is not a coincidence – there were strong reasons that made the IGI open up a centre in Ahmedabad. %% The inauguration of the Ahmedabad facility was attended by Shantibhai Mehta from GJTCI and other leading jewellers from the city. Many of them carried a few samples from their stores for certification. %% Explaining the rationale behind choosing Ahmedabad, Tehmasp Printer, MD, IGI-India, says, “Gujarat is one of the key diamond markets in western India and Ahmedabad has seen growth rates of more than 20 per cent, which is slightly ahead of the all-India average. While our Surat facility last year was opened to facilitate certification of loose stones for the main manufacturers, the Ahmedabad lab targets the growing retail trade and will be certifying jewellery only. It does have a window through which loose stones can be submitted for certification at Surat. Ahmedabad is a major redistribution centre for diamond jewellery to different parts of the state, and is strategically placed to meet the demand from Saurashtra.“ %% Printer also reiterates that the Ahmedabad consumer places a high premium on quality, rather than size, and so there is a growing demand for certification. This has prompted them to include a classroom on the IGI premises where courses will be conducted for retailers, their staff and even select consumers – another indication of a rapidly burgeoning market. A good move considering that on the day of the inauguration itself, nearly 100 High Net Worth clients of leading retailer Sherly Jewels attended a “Know Your Diamonds” programme conducted by Ramit Kapur, GM, IGI-India.

Says Manoj, “Akshaya Tritiya was a complete blockbuster for us this year – of course, as a retailer we have to be prepared to handle the volatile market and the rumours about the prices.” As Ashish puts it, “We are not seeing any difference in sales, though the volume comes down a little for those who can spend on a fixed budget only.” Investors are a little more affected, feels Sanjay, saying, “Investors are more sensitive to price unpredictability, and nearly 35 per cent of consumers are investors. In such a scenario, discounts and sales are even more valued.” %% Not surprisingly, the Ahmedabad jeweller is very optimistic about growth opportunities here. “Growth is going to be dependent on the prices, and the variety in designs we offer. See, in Ahmedabad, a lot of jewellery is purchased for weddings. In communities like the Marwaris and the Patels, sometimes more than 100 tolas of gold is gifted at weddings for the girl’s trousseau alone – the dowry portion is separate! Even after marriage, there are plenty of occasions where jewellery is gifted. So this market is always going to remain strong here,” explains Ashish. %% Sanjay sums up the market mood by saying, “Awareness is increasing a lot and customercentric services need a lot of attention, if we need to grow. Ambience, designs, product value, customer good will, market reputation – all these matter a lot now as the market is growing by leaps and bounds.” %% Frugality, hard-nosed business sense, humility and great respect for the business and the customer are qualities that the typical Amdavadi trader is known for. And based on these strong principles, the jewellery trade in this city looks more than set to take a giant leap forward. %%