RapNet


Rapaport News

 

Polished Markets

 
Rapaport Broadcast
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Indian Dealers Upbeat at Quiet Signature Show

The four-day gems and jewelry event begins in Mumbai.
Feb 22, 2013 7:01 AM   By Avi Krawitz, Dilipp S Nag
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Sentiment on the opening day of the Mumbai Signature show was fairly positive despite the lack ‎of visitor traffic on Friday. Diamond dealers in India maintained a positive outlook for the market as steady ‎demand and tight polished supplies helped raise expectations for improved prospects in ‎the coming weeks.‎

‎"The Indian market is strong compared with others. There is a shortage of polished goods in ‎the market as manufacturing has been low," said one exhibitor who requested anonymity. He added that rough prices have increased in the secondary market.‎

Exhibitors noted that buyers are seeking very specific types of stones with good demand for ‎dossiers, 0.30-carat to 0.50-carat, VS-SI diamonds. He added that more foreign buyers are ‎coming into the market.‎

Mitesh Gajera, the director at Laxmi Dia Jewel Private Ltd., said that the market has been positive ‎in the past two months, partly helped by the local wedding season. He noted that there is ‎good movement in the south and north India market, particularly for brown colored goods. ‎Gajera said that prices have remained stable in last few months.‎

Other exhibitors who spoke with Rapaport News agreed that sentiment has improved with ‎steady demand from both local and foreign buyers. Still, there expectations for the four-day ‎Signature show were low, particularly as visitor traffic was very light on the first day. Exhibitors ‎expect inquiries and buyer attendance will improve over the weekend.‎

‎"I am happy and greatly encouraged to note that Signature 2013 has received an ‎overwhelming response this year from across all countries," said Vipul Shah, the chairman of the ‎Gem & Jewellery Export Promotion Council (GJEPC), which organized the event. "It is indeed ‎noteworthy to see that 90 percent of the exhibitors have participated more than once over ‎the years. We look forward to see a greater quantum of business being transacted during the ‎Signature 2013."‎

GJEPC estimated that approximately $125 million (INR 6.8 billion) worth of business was ‎conducted at last years’ show with domestic exhibitors contributing 87 percent of the total. ‎About 450 exhibitors and 5,900 visitors participated in the event last year.‎

The show was inaugurated by Rita Menon, the chairperson and managing director of India Trade ‎Promotion Organisation (ITPO), along with other industry and government officials. Stephen ‎Lussier, the CEO of Forevermark Diamonds, was also present on the occasion.‎

More than 550 exhibitors are participating in the sixth edition of Signature show, with ‎delegations coming from Poland, Nepal, Turkey, Malaysia and Dubai. More than  6,000 visitors are ‎expected in the four-day business to business event for the gems and jewelry industry.‎
Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Avi Krawitz, Avi Krawitz, Dilipp S Nag, diamond, Dilipp S Nag, GJEPC, India, Signature
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
May 27, 2020
Diamond industry reopening and adjusting to new normal as consumers emerge...
Christie’s to Sell $12M Blue Diamond Ring
Coronavirus Updates: Impact on the Diamond Trade
A Time to Heal
Hong Kong Victoria Harbour.Hong Kong Polished Imports Slump
May 27, 2020
Polished-diamond imports into Hong Kong plummeted 54% to $2.33 billion...
Swiss Watch Exports Down 81% in April
India’s Shipments Drop Sharply in March
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us