Mumbai lies at the heart of a rapidly growing domestic market that is now worth in excess of US$26bn. On this platform of growth, UBM, the world’s leader in B2B Jewellery Fairs today launched its newest event, the Mumbai Jewellery & Gem Fair. The show will last for three days, from 9 to 11 December.

The exhibition has some 300 exhibitors and is expected to attract in excess of 8000 buyers from all over India and overseas. The Mumbai Jewellery & Gems Fair provides leading gemstone and jewellery manufacturers an invaluable opportunity to network with industry contacts, meet potential customers and gather primary market intelligence. The Mumbai Jewellery & Gems Fair is supported by the whole industry, these include our Summit Partners - All India Gems & Jewellery Trade Federation (GJF), Knowledge Partners - Gemological Institute of America, The Mumbai Wholesale Gold Jewelers Association and many other trade associations across India.

MJGF will present the IJ Choice Design Awards on the second night of the event. The awards will highlight the best designed jewellery in India from a variety of categories. The leading jewellery retailers in the country have voted for entries submitted by top manufacturers and the industry awaits to see who will pick up the top prizes.

The gems and jewellery industry is a leading foreign exchange earner, as well as one of the fastest growing industries in the Indian economy with an annual growth rate of approximately 15 per cent.  The gems and jewellery industry accounts for nearly 20 per cent of the total Indian exports and employs over 1.3 million people, directly or indirectly. The two major gems & jewellery segments of the sector in India are gold jewellery and diamonds/gemstones.

India is the largest consumer of gold (around 20 percent of global consumption) and also the largest diamond processor (around 90 percent by pieces and 55 percent by value of the global market). Gold jewellery forms around 80 per cent of the Indian jewellery market, with the balance comprising fabricated studded jewellery that includes diamond and gemstone studded jewellery.

Mr. Sanjeev Khaira, Managing Director, UBM India Pvt. Ltd., said “The Indian gems and jewellery sector is expected to cross US$ 26 billion by 2012, driven by availability of a huge base of skilled labour and the improving lifestyle, and is expected to grow at a compound annual growth rate (CAGR) of around 14 per cent from 2010 to 2012.” According to industry experts the consumption of diamond jewellery alone, in India is expected to touch US$ 6.41 billion in 2012.

India’s growing importance in the global jewellery market is only expected to increase in the future with total estimated jewellery sales of US$ 21 billion by 2012 and US$ 37 billion by 2015. Diamond jewellery consumption in India is also estimated to jump by 78 per cent in 2012. Branded jewellery is likely to be the fastest-growing segment in domestic sales. The sector is expected to grow at 40 per cent annually to touch US$ 2.2 billion by 2012.

Various government incentives coupled with private sector initiatives are projected to drive the sales of Indian gems and jewellery sector at a CAGR of around 14% from 2007-08 to 2011-12.  The organized gems and jewellery sector is anticipated to grow rapidly in near future, accounting for nearly 8% of the total gems and jewellery market by 2012-13. Various factors like cheap labor cost, better designs and manufacturing practices, are making the country an attractive destination for jewellery design, gemstones, cutting and polishing of diamonds.

About UBM India:

UBM India is a part of United Business Media Limited which is a leading global business media company. We inform markets and bring the world’s buyers and sellers together at events, online, and in print, providing them with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewelers, traders, from farmers to pharmacists, around the world. Our 6,500 staff in more than 30 countries are organized into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently. UBM worldwide organizes 300 events, publishes 200 magazines and periodicals and host 200 websites.

UBM India organizes exhibitions covering the following sectors which will help deliver the perfect mix of visitors: Energy, Construction & Infrastructure, Security, Medical Technology & Pharma, IT and Food Industry

For more information visit: http://www.ubm.com/