Kolkata: Amidst soaring gold prices, jewellery retailers are increasingly turning to lightweight ornaments sourced from wholesalers to offset the price surge. This trend was prominently observed at the Bengal International Expo-2023 which kicked off on Friday and will be on till December 10 at the Biswa Bangla Mela Prangan.
The expo functioning as a business-to-business (B2B) platform, saw the participation of 250 jewellery manufacturers and wholesalers showcasing lightweight ornaments this year.
Compared to the previous year, the number of participating wholesalers and manufacturers has doubled at the 4th edition of the largest gems and jewellery expo in Eastern India, organized by KNC Services.
The event received support from the Swarna Shilpo Bachao Committee, Bullion Gem & Jewellery Association and Bangiya Swarna Shilpi Samiti.
An estimated 500 foreign visitors, primarily retailers from countries such as the USA, UK, UAE, Saudi Arabia, Qatar, Bangladesh, Bahrain, Kuwait, Germany and Turkey are expected to attend the expo to explore new designs and place procurement orders.
Tagar Poddar, general secretary of Bangiya Swarna Shilpi Samity and director of National Gems and Jewellery Council of India said, “There’s ongoing experimentation in the lightweight category, with goldsmiths across the state crafting ornaments based on designs provided by wholesalers. While retailers have their manufacturing units, they rely on local jewellers or wholesalers for procurement to meet market demands.”
“India’s gem and jewellery market is experiencing a significant upsurge, and Bengal is no exception,” said Joy Allukas, CMD, Joyallukas Group.
