Surat: The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has decided to put off an exhibition of gems and jewellery, Sparkle, by a month, citing lack of sponsors following demonetisation. The event was scheduled to be held from December 16 to December 19, but now it would be held from January 19 to January 22.
Every year, as part of the Vibrant Gujarat Global Summit, the SGCCI organises the exhibition in Surat. 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.
But after the announcement of demonetisation of Rs 500 and Rs 1000 notes by Prime Minister Narendra Modi on November 8, the organisers of Sparkle-2017 decided to delay the event, citing problems faced by jewellers.
A few days ago, SGCCI president B S Agrawal, called a meeting of the members of the chamber — including chairman of the gems and jewellery department of the SGCCI — to discuss preparations for Sparkle and other upcoming events of the SGCCI. It was finally decided to organise the exhibition in January.
Agrawal told The Indian Express, “Due to the demonetisation, we have delayed the event and will organise it in January. Fewer sponsors have shown interest this time.”
He said, “This is the ninth edition of Sparkle International. An important reason for organising the event after the Vibrant Summit is that we will invite international visitors attending the Summit to Surat and experience Sparkle-2017. The intention is that the gems and jewellery business of Surat will get a boost.”
Due to the demonetisation, the diamond polishing industry and domestic trading of rough and polished diamonds has been widely affected.
Out of around 3,500 units, only a few big units are operational, while small and medium units are shut down. As per the data from Surat city Ratnakalakar Sangh, lakhs of diamond polishers are jobless.
Surat Diamond Association president Dinesh Navadia said, “The diamond industry is passing through a crucial period due to demonetisation. The flow of rough diamonds is good, but the sale of polished diamond is not to that extent… Due to demonetisation, factory owners face problems in giving salary to their workers. The big factory owners had already opened accounts of their workers, but medium and small players could not do.”
