Daijiworld Media Network – Udupi (RD/SB)

Udupi, Feb 17: “Jewellery industry has undergone a drastic change over the last decade or so. It is not what it used to be,” said Sumesh Wadhera, publisher and chief editor of The Art of Jewellery.

He was addressing the gathering here on Tuesday February 16 during the inauguration of daylong seminar on Prospect of Jewellery Industry in India. Wadhera, who is also the director of Gem and Jewellery Federation, said that the entry of corporates like Tatas, Reliance and others have changed the concept of the industry to a great extent. “What used to be a sellers’ market is now a buyers’ market,’ he said.

 
Wadhera said that the industry had a great future in India because of three factors. First, the growing economy of the country will increase the spending power among the younger generation. Second, the organized players in the industry who act as catalysts make the business more customer-friendly. And thirdly, rationalized cost structure due to modernization will result in reduced manufacturing cost extending the price advantage to the consumer. He added that students could look forward to a bright career as well as there is a dearth of professionals in the industry.
 
Manoj Singhania, director of education, GIA (India) was the guest of honour. He emphasized on the need for specialized training for jewellery professionals to face the global competition in the industry. He mulled the possibility of collaborating with Manipal Institute of Jewellery Management (MIJM) for conducting short courses in gemology.
 
Professor Colonel M M Shanbhag, director of MIJM welcomed the gathering.