The Show Must Go On
The October issue focuses on three of the mid-year’s most awaited trade fairs in the Asian region – the Hong Kong Jewellery & Gem Fair, the Bangkok Gems & Jewellery Fair, and the Jewellers Association Show (JAS) in Jaipur. The Hong Kong fair had raised considerable expectations, with a record number of exhibitors participating in the event. However, nature played spoilsport as typhoon Mangkhut hit the city with all its fury, bringing the show to an abrupt halt. Although the show reopened after the storm, the damage was done, as many exhibitors and visitors had packed up early before the full impact of the typhoon could be felt. Read US-based journalist Cynthia Unninayar’s firsthand account of the Hong Kong show in the Cover Story.
In Trade Fair, Cynthia also covers the preceding Bangkok fair and showcases the bestselling gem and jewellery items at the event. Gem dealers and silver jewellery exhibitors fared better than most, she observed. Nearly a fifth of sales were generated during the final two days when the show was thrown open to the public at large. Similarly, the JAS 18 show attracted 25,000 consumers and a little over 5,000 trade buyers at the Jaipur Exhibition & Convention Centre in Sitapura.
Meanwhile, the GJEPC welcomed the government’s move to increase the import duty on jewellery articles from 15% to 20%, saying it would boost local jewellery manufacturing. However, the Council warned that the increased customs duty on semi-processed, half-cut or broken diamonds, and cut and polished coloured gemstones from 5% to 7.5% would increase costs and impact exports.