Page 46 - March / April 2023 : Diamond Digest Issue

Global News & Views.....
2nd edition of JMAIIE touched greater heights!
The second edition of JMAIIE, the one and only exclusive show for jewellery machinery and allied products / services passed with flying colors or was excellent/outstanding. This year the show was bigger and captured the grandeur of the stunning Jewellery industry!
The show was powered by JMA Forum without whom this magnificent and unique show wouldn’t have been possible. They stood by KNC Services right from the conceptualization till execution, every step of the project. GRS India Pvt. Ltd. was the presenting sponsor. We are grateful to them for showing confidence in us and JMAIIE.
The show was inaugurated by our chief guest Mr. C. P. Chauhan(IRS), joint development commissioner (SEEPZ). Mr. Kevin James M. D. of GRS India Pvt. Ltd. also joined the inaugural session, which was a great honour for us !
JMAIIE received immense love from the industry across the world and especially from India this year too.
Renowned companies across the globe participated at the JMAIIE. It was indeed a huge opportunity for Indian companies to showcase their work to the fraternity. The show had created a lot of awareness via online & offline promotions which drew people to the show in large numbers. It’s a very proud moment to share that 10000+ hard- core, serious visitors visited JMAIIE. The visitors from almost 60 cities of India came to the show. JMAIIE attracted trade visitors from countries like USA, UK, Canada. Bangladesh, Sri Lanka, UAE, Saudi Arabia, South Malaysia, Singapore. They were excited and satisfied with the show.
This year “Excellence Awards” were introduced to recognise the contribution of the jewellery machinery manufacturers. They were rewarded for their continuous efforts. There were multiple categories to cover the whole spectrum of their expertise.
For the first time ever “The Lifetime achievement award” was thought of too!
Two Lifetime achievement awards were presented -one was
given (posthumously)to the Late Mr Nariman Wadia, who had been associated with the gem and jewellery industry for over 5 decades. Apart from successfully representing foreign manufacturers of high quality machinery, equipment and processes, Mr Nariman Wadia also helped several manufacturing jewellers in designing, efficient plant layout,etc in tune with his motto of ‘Start Right’ for all !
The other Lifetime achievement award was presented to a living legend of the industry, Mr Rajan Mistry. Those gathered at the ‘Awards night’ were fortunate to have Mr Rajan Mistry Ji’s presence to accept the award. Mr Rajan Mistry was highly touched by this gesture/initiative of the JMAIIE and shared fond memories of his journey in this industry.
Mr Rajan Mistry ‘s forte has been to provide state-of-the- art machinery for the Indian Jewellery manufacturers at the most competitive prices and compatible to their foreign counterparts.’Provide us with land and Rajson will convert it into a full-fledged Jewellery factory’ has been Mr Mistry’s core competency.
A lot of those present in the industry for over 2 to 3 decades bore testimony to this as well!!
The stalwarts and experts from the domain graced the Jury panel to decide the winners in each category.
A number of Technical seminars were conducted by eminent speakers from the Jewellery industry at the JMAIIE,who shared their knowledge and valuable inputs.Audience were benefitted through these sessions, covering varied and interesting topics related to the jewellery trade.
Yet again, JMAIIE proved to be the major bridge,filling the much- needed massive gap of the jewellery trade.
History was re-created at the 2nd Edition and it is evident that JMAIIE will only grow year on year. It has become the guiding force and a calendar event for the Jewellery trade.
People are already queuing up to participate in the third edition which is scheduled in February 2024.
Perspective by Mr. Colin Shah, MD, Kama Jewelry on gold prices hitting Rs 60,000/10gm level
“Gold prices have risen almost 7-8% in the past month. The rally in the yellow metal is primarily due to the banking crisis in the west. The liquidity infused by the central banks and the expectations of lower to no rate hikes is pushing gold prices up. Gold is a safe haven, historically it has gained in periods of uncertainty.
Gold prices hitting a fresh high is a sign of slower economic growth and lower interest rates with ample liquidity to help the system steer of the current situation.
The current situation globally may take some time to clear out. Globally, central banks have been adding gold reserves. The onset of the festive season in India starting from Gudi Padva will support demand at the retail level. We expect gold to gain further and touch new highs in the next few months. Domestically, it is expected to trade in the range of Rs 61,000-62,000/ 10gm. Internationally, it may scale levels of $2,050-2100/oz.”
46 • Diamond Digest • March - April. • 2023