Slow market conditions couldn’t dampen spirit of IIJS 2015

The 32nd edition of India International Jewellery Show (IIJS) received overwhelming response this year. This year, exhibitor responses were of the two extremes as gold had a tremendous response while loose stone and gemstones segment went through a slow show.

Gold segment at IIJS has always been a hit irrespective of market conditions as this is the time of the year, when manufacturers and retailers stock up for the upcoming bridal season. This year, too, the first two days of the show had maximum footfalls in the gold segment. Overall, retail market has been sluggish for the past few months. Retailers were inclined towards clearing the shelves than stocking up. Ahead of IIJS, the gold prices have been on a constant decline; the prices had come down till Rs. 23000 per 10 gms. Therefore, the gold rush during the IIJS was obvious as the retailers were in a rush to stock up for the upcoming festive and bridal season. There could not have been better time to buy gold, while the prices were on a down side. Dip in the gold prices has also given rise to renewed interest in antique/heavy/heritage jewellery in gold. Leading plain gold and gold jewellery exhibitors predicted the gold prices to be stable around Rs. 25000 mark in the coming season.

Followed by gold, studded and designer jewellery was well received at the show, especially lightweight studded jewellery. The buyers were on a lookout for creative pieces and a number of exhibitors had some of the best designed pieces showcased at IIJS.

Loose stones and gemstones had a quite slow show this year. The buyers were only checking the available products but many of them did not make the final purchases. It was more of a ‘wait and watch’ situation for the loose stones segments. However, the exhibitors felt that the situation is someway good as the diamond manufacturers wanted to keep away from the delayed payment circle. However, some of the exhibitors hoped that the demand for loose stones would soon see better days ahead. As the demand for jewellery would start coming, the demand for loose stones and gemstones is expected to pick up.

No show is complete without few hiccups and IIJS 2015 was no exception. Though meant for the security reasons, long queues at the Entry and Exit points did irk visitors and exhibitors as it was time consuming. Keeping in mind the recent terror attacks, it was obvious on part of the organizing committee to be extra cautious on the security checks as the show attracts a big number of people under one roof. This apart, the mobile and internet connectivity was a complete downer at the show as this year the mobile connectivity was at its worst.