Solitaire International - August 2017

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IIJS 2017 drew praise from all quarters as business exceeded pre-show expectations. Gold jewellery participants did roaring business, with many reporting that they had sold out their stock on the first couple of days. Diamond jewellery manufacturers, too, fared well across the lightweight and bridal categories. Demand for loose diamonds and gemstones also picked up at the fair.
There were apprehensions that the recently introduced GST would be a dampener. However, these fears remained unfounded, as buyers and sellers told Solitaire that GST has opened up new opportunities to do interstate business without incurring additional tax. In Industry Insight, Dr. Suresh Surana rightly predicts that GST will redefine the jewellery business due to greater transparency and a new tax structure.
Designer lightweight jewellery for work and travel wear is popular across all ages for its affordability and versatility. Demand has gone up by 20% in the past twelve months and is expected to continue growing with self-purchases and gifting on the rise. Read more about this promising jewellery category in In Focus.
Small scale jewellery manufacturers in and around Palanpur, the birthplace of India’s first diamantaires, will benefit from the Common Facility Centre that was recently opened in the city by the GJEPC. The Council has plans to open two more similar facilities in Amreli and Ahmedabad.