MUMBAI: Gems and jewellery exporters have now trained their sights on the Middle East to compensate for the loss of business from the
recession-hit US, which earlier accounted for 50% of total sales. The Gem & Jewellery Export Promotion Council (GJEPC) is launching a campaign “Brand India” in the Middle East, in a bid to improve awareness for the repertoire of diamond and jewellery products from the country. The council is investing around Rs 250 crore in the campaign, said officials.
The campaign will take off close to the peak demand season of the Middle East, in the latter half of 2009, possibly in October-November. This campaign is expected to cover countries like Saudi Arabia, the UAE, Iran and Kuwait, and would include a mixture of events with Bollywood stars, print and television advertisements and trade meets in these countries.
GJEPC chairman Vasant Mehta said: “We are trying to ensure that Arab customers get an integrated understanding of diamond and jewellery products from India, given the strong demand emanating from that region.”
Industry players say that there is a very little awareness of Indian gem and jewellery products in Arab countries, though demand has been quite robust. According to industry estimates, Arab and the Middle East countries account for nearly 15-20% of India’s diamond and jewellery exports vis-a-vis 5-7%, a few years back. Gems and jewellery exports from the country between April 2008 and February 2009 declined 4.6% year-on-year to $17.7 billion.
An official from GJEPC said that they are currently in the process of tying up funds with diamond and jewellery exporters for this campaign in the Middle East. “We are also actively lobbying with the commerce ministry for their support,” he said.
Source : The Economic Times