The mood among exhibitors was largely positive as the third day of IIJS 2015 drew to a close. The day was characterised by crowded aisles, and while footfalls in the gold jewellery section continued to outstrip other segments, most exhibitors including polished manufacturers, believed that the fall in gold prices, and the resultant boost for jewellery demand, would provide a fillip to the entire industry.

Nikunj Gheewala, Marketing Manager at Supergems said that the show had been good till date. “We have had many inquiries for polished in different sizes, and believe that this will translate into actual orders. The market will open up in the next few months with the festival and wedding season,” he said.

Supergems has used the platform of IIJS to popularise its second tender of gemstones. “We have listed 200 stones in rounds, fancy shapes and fancy colours, mostly from 1.5 ct up, and have got a good response so far,” he added. “The tender is being monitored by a third party auditor, and this has strengthened client confidence.”

Another polished manufacturer who has launched a tender for polished goods to coincide with IIJS is Blue Star Diamonds. “We are celebrating 50 years of the company and decided to do something new to mark the occasion,” said Manish B. Shah at the company booth. The tender has a wide assortment of shapes in 2 cts up with a few large stones in the 8-11 ct range as well.

“Demand for polished has been fairly good at the show, and we expect that some of the inquiries will translate into orders over the next few days,” he said, praising the resilience of the Indian market.

In the Antwerp Diamond Pavilion, Tushar Marthak of C.J. Exporters said that many buyers have shown interest, but seem hesitant to finalise orders as they are looking around for the best deals.

Marthak was somewhat critical about the new location for the pavilion, which is a bit cut off from the main show, and felt that the floor plan of the International Loose stones section needed some rethinking. “Had the aisle been in the centre and the stalls on either side, we would have had a larger number of walk ins.”

At the Eurostar booth in the same pavilion, Rakesh Trivedi, Manager Sales, too expressed cautious optimism. “Today we had quite a few inquiries from buyers who seem to be comparing prices across booths, and trying to get a grasp on possible price fluctuations,” he said, adding that he expected some definite business before the show ends.

Trivedi too added that visibility of the company stall was lower this year as a result of the new location.

Rajendra Jain of Swarovski Gemstones said that the Indian market was founded on a solid base of wedding and festival demand, hence sales always pick up in the months following IIJS. He said that being an established brand, for Swarovski, the show was more about unveiling new collections and products to established clients, than garnering major new business.

“We were at a bit of a disadvantage this year, as Swarovski had to move from the premier location in Hall I that we had for such a long time,” he said, adding that the newly created synthetic stones section was a bit isolated from the main flow of visitors. “But many of our existing clients have been excited by our introduction of new types of head ornaments – including tiaras, and other innovative concepts, for weddings and occasions.”

The company’s 120 facet CZ in different colours, a celebration of its 120th anniversary, was also getting attention.

Dharmendra Tank of Heeralal Chhaganlal Tank from Jaipur said that while actual business had been good, not all the visitors at the show were decision makers and buyers. “The medium-good to higher end precious and semi-precious gemstones we deal with are always in demand, so we have had business. But it could have been better if entry to the halls was smoother and procedures for actual buyers to exit with purchases they have made officially at the show were less complex.”

 Prasanna Venkatesh, AGM at RKR Gold from Coimbatore summed up the business environment thus, “Though the market is a bit slower this year, we are confident as demand in India always begins to pick up after the month of Ashadh, especially in rural and smaller urban locations. Only a really very bad monsoon will dent demand for jewellery here.”