‘Looking at IIJS to catapult us into unexplored international markets’

https://www.youtube.com/watch?v=478YmIIIMao&feature=youtu.be

Premprakash Goyani from Mumbai’s Lotus Jewels is looking forward to the IIJS Virtual because it gives him a chance to venture into local areas, and expand his international export reach

It is your first time at the IIJS event. What are your expectations?

While we are primarily exporters, we are looking to enter the local market with our diamonds. A huge platform like IIJS Virtual is best aligned to our future plan. We are very excited about our manufacturing strength. I think our products have a good scope in India.

Which international markets have opened up? What is the reason behind India’s good performance in exports? 

US is open as we speak. Despite the pandemic, the US market has surpassed our expectations. Their trade war with China has diverted lots of orders towards Indian manufacturers. I think it’s a great opportunity for us to build a customer base. India should get a big chunk of the US business in the future. Also, the duties they have recently imposed on Chinese jewellery will benefit us immensely.

Which markets do you feel will emerge as new diamond destinations, specifically for your products?

We manufacture light-weight diamond jewellery at affordable prices. So, the world is our oyster. Globally, people go for affordable jewellery anywhere in the world. We are targeting the far East and South-east Asia because we are yet to reach our full potential there. IIJS will help Indian manufacturers market their products in these areas and expand their business.

What is your message to international retailers planning to take part in IIJS Virtual?

IIJS is one of the most successful, international B2B shows and the exhibitors generally make 20-25% of their total annual business here. During the initial days of the lockdown, we thought things will be slow this year. But with IIJS, I feel there is a chance to recuperate in the next six months. We are hoping for the best. India can become a manufacturing hub for all international buyers who are looking for vendors. They also need to plan in advance so that local buyers can fulfil their orders. Labour shortage is an issue now.

Courtesy: Retail Jeweller India News Service