Posted on 12th Jun 2012 @ 10:30 AM
One of the outcomes of the recent Vicenza Jewellery Week is a collaboration agreement between two of the world’s most important jewelry manufacturing centers – Italy and India.
Fiera di Vicenza, organizers of the VicenzORO trade fairs, and Gem & Jewellery Export Promotion Council, organizer of the India International Jewellery Show, signed a collaboration agreement during the Las Vegas shows.
The agreement gives Fiera di Vicenza exclusivity in representing the gold and precious stone Italian districts and companies taking part in IIJS. Also, Italian gold, jewelry and jewelry processing machinery companies will have special exhibition space at VICENZAORO Italian Club and T-Gold at the Mumbai show.
With a market share of 28.9 percent, India is the world’s largest consumer market for gold jewelry and represents an enormous opportunity for Italian products.
Fiera di Vicenza said it has been encouraged by the New Delhi Government’s recent willingness to lower customs duties, viewed as a catalyst to develop business relations in India.
The Agreement also allows for an Indian pavilion at the VICENZAORO events in to house leading high-end Indian jewelry companies sponsored and coordinated by the GJEPC.
According to the President of Fiera di Vicenza, Roberto Ditri, “It is a big advantage for Fiera di Vicenza and its exhibitions, which are competing for first place in the gold and jewelry sector, and a further chance to promote Italian jewelry on the international scene. India is one of the markets where the luxury goods chain and Italian jewelry have enormous business potential.”
“For some time now, Fiera di Vicenza has been working on intensifying relations with India,” Ditri added. “In order to function in a country that is as big as a continent, one must know the market and get oneself noticed. Signing this Agreement with the GJEPC is an achievement for Fiera di Vicenza and a starting point towards new areas of growth.”
Corrado Facco, General Manager of Fiera di Vicenza, said the partnership is a key element in their new strategy of making VICENZAORO a leading global brand.
“The Indian market, which counts more than 150 million evolved consumers, just had to be part of our action,” Facco said.