IBEF: July 13, 2021
On Monday, Gems and Jewellery Export Promotion Council (GJEPC) signed an agreement with the World Gold Council to promote gold jewellery in India in 2021.
According to a statement published by GJEPC, “As per the agreement, both the partners will co-operatively fund a multi-media marketing campaign to expand awareness, significance and implementation of gold jewellery among consumers in India, especially the new generation and millennials.”
It said, “Young women are active gold jewellery consumers and their future purchase plan is expected to grow.
As per the council, the consumers in urban areas are expected to show more interest with their future purchase plans. Also, finding out about the desire for consumers on self-expression and prestige, great results could be achieved.”
It added, "This understanding offers a prospect for the gold industry to plan jointly to make gold jewellery more significant and modern, leading to a substantial move. This joint collaboration will work to make gold jewellery more applicable and desired through a multi-media campaign.”
Mr. Somasundaram PR, Regional CEO, India, World Gold Council, said, “Both the parties plans to work on the campaign collaboratively that strengthens a universal message about gold in one's life while positioning Indian hand-made jewellery in a contemporary perspective.
Mr. Colin Shah, Chairman, GJEPC, said, “The aim is to build a sustainable framework for an industry-led initiative to boost growth for gold jewellery in the market and push consumption in India.
Mr. Shah said, “I consider that, while there is a rekindled attention in handcrafted gold jewellery, we require creative solutions to meet the contemporary women's aesthetic responsiveness.”
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.