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‘India will be jewellery hub by 2012’

MAKING A POINT: Sumesh Wadhera speaking at the seminar in Manipal on Tuesday.

Manipal: Sumesh Wadhera, chief editor of the Art of Jewellery magazine, said on Tuesday that India would become a jewellery hub by 2012.

He was speaking at the inauguration of a seminar on “Prospects of jewellery industry in India” organised by the Manipal Institute of Jewellery Management, a constituent of Manipal University, here. Mr. Wadhera said that India was the largest jewellery market and biggest diamond cutting centre in the world. Indian jewellery industry was undergoing a huge transformation. In the past, it was a sellers’ market, but now it had become a buyers’ market.

The rules of the game changed after companies such as Tata and Reliance got into the jewellery sector in 2004. Today’s buyers were discerning and bought quality jewels, which were hallmarked. Price wars, campaigning, huge investments and daily fluctuation in gold prices were affecting traditional jewellers, Mr. Wadhera said.

The jewellery industry should give priority to quality.

There was an acute shortage of professionals in jewellery industry.

The prospects of students graduating in jewellery management would be bright with about three years’ experience. Gold prices were expected to remain bullish, Mr. Wadhera said.

Director of Education at Gemmological Institute of America in India Manoj Singhania and Director of the Institute M.M. Shanbhag were present.

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