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ITALIAN-MADE JEWELLERY "EXPLORES" INDIA
Monitoring the Indian jewellery market to identify the best promotional activities for the next few years: this is the objective that ICE (Italian Institute for Foreign Trade) set itself when it decided to repeat last year's experience and to confirm the participation of Italian companies to the 2nd Indian Jck fair (www.jcknewdelhi.com), due to take place on 7-10th July in New Delhi. The event will be held in the "Pragati Maidan Exhibition Centre", India's main exhibition venue. It is being organised by Reed Exhibitions, with the support of Gjepc Indian Jewellery Trade Association and of international organisations such as the World Gold Council and Platinum Guild International.
Figures for the 2007 event are not yet available but organisers count on an increase in the number of exhibitors compared to last year, with exhibitors hailing from the world's major markets: Italy, France, the United States, Thailand, Belgium, Germany and Turkey. In its first edition, Jck attracted 198 between foreign and Indian exhibitors (non-Indian brands totalled 40%), and around 3000 visitors. The Italian presence was organised through a specific exhibition point set up by ICE, which supported the firms who were present and provided feedback on the event to those which were not. The 2006 edition of Jck also featured, thanks to an agreement between ICE and Unioncamere (the Italian Chambers of Commerce association, ndt), an official Italian participation made out of 23 firms, 3 consortia and Promos, the special promotion agency representing the Milan Chamber of Commerce.
Despite its niche presence in the Indian market, last year's experience was positive for those Italian jewellery firms that participated to the fair. In particular, first-time entrants could verify their products' potential in a market where access is made difficult by high customs tariffs and by the distorting effect of parallel imports from Dubai and the United Arab Emirates. Furthermore, the Indian jewellery market is made up of thousands of small or even very small operators. Its fragmentation is not likely to be resolved in the short term, as most producers are also importers purchasing jewellery abroad to integrate their product lines and adapt them to Indian taste.
The Italian gold manufacturing sector recorded a EUR6 billion turnover in 2005, up 2,6% from 2004. More recent figures show an increase of 8,9% in gold and silverware exports during the first half of 2006, with a boom towards China (+31,6%) and France (+29,4%). The United States continue to be the prime market, with an export value of EUR413,7 million, stable compared to the first half of 2005. The Italian manufacturing industry, composed of 10.000 firms (the vast majority of which produce handmade products) is the largest in Europe and the third in the world in the sector of in gold craftsmanship. Italian firms hold a 69% share of all fine gold crafted in Europe and 16% of that crafted in the world, equivalent to 25 million pieces of gold and jewellery and thus continue to lead the global jewellery market.
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