In order to tap the world market of 16.3-billion-dollar of fashion jewelry and accessories, Export Promotion Council for Handicrafts (EPCH) launched a specialized show on Indian Fashion Jewelry & Accessories Show (IFJAS) from July 9 to 11, 2010 at India Expo Mart and Centre, Greater Noida, NCR Delhi.

 

India already exports fashion jewelry of the order of Rs. 245.83 crore to countries like Australia, Canada, France, Germany, Italy, Japan, Netherlands, UAE, Switzerland, USA, UK and Latin American countries etc. The share of India is still a very meager/ nominal of the percentage of the global market, said Mr. Raj Kumar Malhotra, Chairman, EPCH.

 

IFJAS will feature display of five broad product categories viz. fashion jewelry, semi precious fashion jewelry, fashion accessories, hand bags, purses, fancy shoes and embroided fashion accessories etc. Around 150 Indian manufacturers and exporters will be participating in the three-day event, which will provide an opportunity to buyers from across the globe to source products displayed under one roof from all over India.

 

The mega show has its base in the country’s rich traditional crafts which today may not manifest in their purest form but nevertheless helping the industry, form, adopt and meet the requirement of discerning global market. Today, the fashion consciousness in India is comparable to the best in the world. As much as India has been popular for its precious jewelry for years, today it also marks a fashion statement globally.

 

India carved a niche in the International fashion jewelry industry with its sheer diversity and ever evolving nature. Traditional yet contemporary, ethnic yet modern, Indian fashion jewelry has an art form with diversity, designs, styles and technique that complements variable taste worldwide. Indian fashion jewelry has a sort of fashion of ethnic element with modern design keeping western taste and preferences in focus, he added.

 

Mr. Malhotra further added that the top ten importing nations for jewelry in the world are (in order of priority), USA, Germany, UK, France, Japan, Switzerland, Netherlands, Canada, Belgium and Hong Kong. These nations combined together share of 78% of the total world imports. India is already exporting to these markets. However, the share of India has been negligible. Therefore, there is a need to make vigorous efforts to increase exports from India.

 

Holding of IFJAS is a step in this direction, proposing to undertake participation in fashion jewelry shows in the main markets in the world, bring out specialized catalogue of fashion jewelry and accessories for circulation amongst regular and potential buyers in various countries and make vigorous efforts for entering into new and upcoming markets.

 

Mr. Malhotra opined that despite the economic downturn and recession in the world market, the market for fashion accessories and jewelry has continued to grow for the simple reasons that most of the consumers did not want to spend sizeable money on purchase of new dress but prefer to buy fashion jewelry and accessories to use alongwith old dress to give a new look to the personality.

 

In the face of recession, effluent consumers continued to indulge in their obsession with high end fashion accessories which they use to update their outfits. Women consumers continued to spend on hand bags, their share of wallet devoted to shoes dropped sharply.

 

They also shifted where they shopped for fashion accessories, spending less in department stores and more in specialty boutiques and over the internet. This shift indicate the changing trends in the market. Demand is not declining, it is on the increase but through a different channel.

 

One of the highlights of the show is a thematic stand display of M/s SWAROVSKI. On display at the exhibition will be Made with SWAROVSKI ELEMENTS fashion jewelry, fashion accessories, hair accessories, bags and fancy shoes, belts and waistbands from leading designers and brands that include leading Indian and International designers.

 

EPCH intends to take advantage of this situation through the IFJAS. Describing the Indian Fashion jewelry and accessories as an important part of EPCH marketing strategy.

 

EPCH Chairman stated that this show is a part of EPCH drive to promote and expand horizons of key verticals of Handicrafts Industry. Fashion Jewelry and Accessories of India have unlimited export potential and with dynamic efforts, the export can grow.

 

Mr. Rakesh Kumar, Executive Director – EPCH said that this show will give a distinct platform to those Indian companies who have specialized in the range of fashion products. The show will be a unique opportunity to display Indian capabilities and harness its business potential.

 

Most of the exporters are also very enthusiastic about the export orders likely to generate at this show. The show will be a stepping stone in the market of Fashion Jewelry and Accessories in the overseas market. More than 300 buyers from leading importing nations are due to attend and source their requirement at this show.

 

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