|
|
India’s Cash Policy Delays Surat Jewelry Fair
Dec 27, 2016 8:38 AM
By Rapaport News
|
|
|
RAPAPORT... Gujarat authorities postponed the annual Sparkle
International gem and jewelry exhibition by a month as India’s demonetization
policy prevented visitors from attending the show in December.
The 9th edition of the fair will now take place in Surat
from January 19 to 22, according to the Southern Gujarat Chamber of Commerce
and Industry (SGCCI), the show’s organizer.
“Due to the present scenario in the market, most of the
jewelry companies were not available to participate,” Rikin Vyas, manager of
trade fairs at the SGCCI, said in a telephone interview with Rapaport News.
The Indian government’s decision to invalidate INR 500 and
INR 1,000 currency notes last month has sapped liquidity, hitting cash-focused industries such as the gem and jewelry trade. Smaller, domestic
traders and jewelers are among the hardest hit.
Even so, organizers of the Sparkle exposition are expecting turnout to be strong, with about 120
companies attending compared with 90 a year ago, Vyas said. |
|
|
|
|
|
|
|
|
|
Tags:
events, Exhibitions, Gujarat, Jewelry, Rapaport News, Rikin Vyas, SGCCI, Sparkle International, the Southern Gujarat Chamber Of Commerce and Industry, trade fairs, Vibrant Gujarat Summit
|
|
|
|
|
|
|
|
|
|
|
|
|