Demonetization forces exhibitors postpone Jewellery Exhibition

Surat, Dec 27(KNN) The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has decided to put off an exhibition of gems and jewelry. The event was scheduled to be held from December 16 to 19, but now it is being held from January 19 to 22, 2017, due to lack of sponsors following demonetization.

SGCCI President B. S. Agarwal, called a meeting of the members in a view to discuss the preparations for sparkle and other upcoming events of the SGCCI, where the decision was taken.

Dineshbhai R. Navadiya, President, Surat Diamond Association, told KNN there is no cash in the hands of buyers.

“The main reason is that buyers don’t have cash right now and digital payment is not yet popular. After December 31^st, we are hoping that solutions will come out and customers will be able to deal or buy,” said Dinesh.

The jewellery exhibitors are hoping that the government will sort out this problem.

He added that jewelers are mostly affected but the diamond market which is in export is least affected by demonetization.

“Jewellery market is affected but diamond is not much affected as rough diamond is showing growth because exports did not face any impact,” said Dinesh Navadiya.

Every year SGCCI organizes the exhibition in Surat as a part of the Vibrant Gujarat Global Summit. Generally, the event is organised in January, but this year the SGCCI had decided to organise the event in December at Surat International Exhibition-cum-Convention Centre. Preparations were being made by the SGCCI managing committee to contact jewellers across the country to participate in the event. (KNN/RAS)