This year’s India Pavilion organised by the Gem & Jewellery Export Promotion Council (GJEPC) at the JCK Las Vegas show, features a design gallery with jewellery specially designed for the US market. The product offerings, under the ‘Cosmos’ theme that reflects US consumer trends feature cosmic elements in designed into rings, pendants, earrings and bracelets.
Speaking about this year’s pavilion — the 16th consecutive one at the JCK show — which features 40 Indian firms, GJEPC Chairman Pramod Agrawal said, “The US is a significant market for the Indian gem and jewellery industry. India exported $10.58 billion worth of gem and jewellery products to the US in 2018.”
He elaborated, “The rising GDP growth, employment rate and private consumption expenditure in the US have contributed to the rise in India’s exports of gems and jewellery to the market. It is believed that this momentum of US demand will continue further, and this is a good sign for Indian gems and jewellery exports.”
He went on to say, “The US market alone is expected to spend $5.2 billion on the jewellery category this year, a whopping 31 percent increase over last year, as reported in the annual survey by the National Retail Federation (NRF). Mother’s Day is estimated to see record spends and the good news is that India caters to over 19 percent of the US market’s jewellery demand.”
GJEPC Vice Chairman Colin Shah, commenting on the India Design Gallery, observed, “The India Design Gallery highlights some of the finest contemporary jewellery available from India today. Indian jewellers and craftsmen cater to the most demanding customers across the globe. India’s ability to satisfy any kind of jewellery requirement has always amazed the world. This has been possible due to Industry’s willingness to embrace and adopt the latest technology.”