Sunday, December 27, 2009

Current situation in Gems and Jewelry trade in Jaipur

Rampal and Dr. Garg  Garlanding
Mr.  Tunkalia and Mr. Mantri

Mr. Satyendra Tunkalia

Mr. B L Mantri

 Current situation of Gems and Jewelry trade has been discussed in the forum meeting today in Gulabi Nagar Vichar Manch on Sunday, December 27, 2009.
Mr. B. L. Mantri, Chief Speaker told that Jaipur is a traditional center of gemstones. Jewelers and gem dealers of Jaipur are renowned world wide. Jaipur has earned reputation and also earned money in this trade. However, the trade is facing tremendous problems since last one and half years.
Gems and Jewelry trade is victim of global recession and slow down. At least fifty percent of total godds manufactured in Jaipur are exported and consumed by the Americans. Hence, slow down in American economy has severely affected Gems and Jewelry trade in Jaipur.
He added that abundance of synthetic materials has also played its role to slower movements of gem stones especially semi precious.
Gopinath Pareek, Dr. Ritum Garg,  Rampal also contributed to the discussion and asked questions. Both the Chief guest and the Presiding dignitary have answered these queries.
Jyoti Kothari, proprietor Vardhaman Gems informed that Gems and Jewelry trade was very lucrative and fetched high margins in the past. Jewelers and gemstone dealers of Jaipur were highly skilled and earned hand ful of money in the past. Situation has turned now and they are facing world wide competition while buying rough gemstones overseas and selling cut and polished ones. margin of profit has too shrinked to survive.
Mr. Satyendra Tunkalia, President of the forum discussion  informed that Jaipur is shifting towards studded Jewelry from color stones. Abnormal hike in Gold and Silver price has affected studded Jewelry business severely. People face a budget constraint while buying studded Jewelry. He added that jewelers are shifting from 22 K and 18 K Jewelry to 14 K and 9 K gold in diamond studded Jewelry. Hike in silver price compels silver Jewelry manufacturers to use lower quality of silver.

(Jyoti Kothari, proprietor, Vardhaman Gems, Jaipur represents centuries old tradition of excellence in Gems and Jewelry. He is also a Quality Management System ISO 9000 professional).


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