Indo Euro Summit 2010

Indo Euro Summit 2010
Opens likelihood for Brand India

Europe to get Brand India Jewellery sooner
India edge is to cater entire jewellery spectrum to EU Buyer


Recently concluded Indo Euro Summit 2010, the second edition, well organised by GJEPC opens a warm likelihood for Brand India to cater entire spectrum to European market and buyer. Thus European search for ‘Mid-Segment’ and ‘Mid-Priced jewellery’ terminates.

During April 27-30, 2010, Indo Euro Summit 2010 hosted new participants from Scandinavia, Letland, the Czech Republic, France and the Benelux that inaugurated by the Chairman, GJEPC Shri Vasant Mehta, “India is important, Indian Jewellery is important and so are the Indian Diamantaires and Jewellers. With the industry reaching the pinnacle of Diamond Manufacturing globally, and progressing towards being the fastest growing jewellery market, it is difficult for any associated with the trade to miss this burgeoning destination.” said.

“India, the breeding ground for readily available raw materials- cut and polished diamonds, polished coloured gemstones & metals, is today surging forward to create Brand India. Indo Euro Summit is the meeting of two minds with the objective of establishing business relations between the participating countries and expanding horizons for each.” said Vasant Mehta.

Indeed any such summit is the true tool to get extended horizons. De facto, the second largest global jewellery market – Europe is rummages around for mid price segment jewellery since last few years especially since 2008 upon arrival of systemic financial weakness. Virtually entire Europe market wish to see a jewellery of new idea, designs that attaches creativity with colours-n-craftsmanship. This mid-price segment also wishes “a long term relationship, competitive or say economical tags, quality and prompt delivery” said Norwegian player to JNI.

A focus of the first summit stayed on Western Europe while the second edition invited players from Northern and Eastern Europe - the area that squirrelled away about 85% of all the jewellery that sold in the year 2008 in Europe. Even in the most recent Greece scenario not only Greece market but also Spain & Portugal is rushing over to sparkle-n-glitter.

Because of on going global & scenario at Europe, the European region sourced about 20% more jewellery from developing countries including India during the past two years. Because of such summit and persistent efforts of GJEPC one can assume pick-up in coming days during this FY especially by H1.

Mr Philip Van Laere, consultant for European Market of GJEPC said, “Basic is very much clear, idea is ‘seeing & believing’.” ‘Retailer came; they saw edge-India, impressed by the design skills, operating efficiency, modern know-how, professional managing capabilities & change relationship directly!’ Not only Mr Philip but also the players of Czech, Norway & Belgium, who represented wrap-up press brief with Shri Sanjay Kothari, Past Chairman-GJEPC, said that they notice shift in industry, impressed with policy, collective wisdom, innovation and R&D initiatives, young team with latest know-how. These players also said, factories are impressive, capable to assure our requirements especially quality & delivery. “Now we have some facts in pocket.” “This summit helps in changing perceptions & hence Brand India may work” said one of the Czech delegates, ‘consistent in time!’

GJEPC plays Master Stroke:

Since last couple of years the GJEPC has opened up their dais for gen-next players. This year Shri Sanjay Kothari calls Kapil, Sohil, & Nihar to step-up for holy-n-precious lamp lighting at the inaugural event. Even in the first summit icon GJ industry, India, Sanjay Kothari had placed them centrally with key profile. “Yes, we younger generation is being promoted to play crucial role.” “This year too” Mr Kartik Mehta, Jewel Art acknowledged.

By considering huge promotional efforts, BSMs, Summits, not only with EU players but also with many focused markets, Shri Sanjay Kothari said, “Brand India Jewellery is a matter of few years.”

By drawing synopsis of the Summit, Shri Sanjay Kothari said, almost all players of the first summit participated in this second edition is showing significance. “Success of business is being counted by players joining again.” ‘This must reaffirm relations’ He added. There were 08 players from European countries and 15 Indian players.

Over all I learned that the format is of an excellent design. All most all the participated EU players have find out their sources and confident to deal because a management of family business is now professionalized in India and that is accessible. Equally players India would go in making inroads into the European market.

Breaking News:

According to Shri Sanjaybhai, the GJEPC is about to announce one more European summit as, Mini summit’ in the month of May. Probably the Mini summit’ will be organised during the third week of May this year.

According to format, the council will prefer 15 players from India.