Now, Chennai a gold jewellery hub

To promote Chennai as a gold jewellery hub, the World Gold Council and Madras Jewellery and Diamond Merchants Association are jointly organising 'Gold Jewellery India International Exhibition' from May 20 to May 22 in Chennai.

Addressing mediapersons, Syed Ahmed, president of MJDMA, said that GJIIE 2005 is a business-to-business trade fair on gold jewellery machinery, equipment and allied products.

Uday Vummidi of Vummidi Ethiraj and Son Exports said that the city boasts of reporting sales of gold jewellery worth Rs 3,000 crore (Rs 30 billion) annually.

Over 70 per cent of jewellery sold is in conjunction with marriage. Chennai is India's biggest gold jewellery retail market with over 4,000 retail outlets devoted to gold and gold jewellery.

K Shivram, vice-president of World Gold Council, said that the three-day exhibition is a platform to help jewellers and other businesses involved in the gold trade to interact directly with manufacturers, wholesalers, equipment makers, accessory makers, and open avenues for investments on new technology and cutting-edge designs.

GJIIE 2005 is expected to attract nearly 100 participants and 8,000 trade professionals connected with gold jewellery, machinery and allied products from India. Taiba from Dubai, and Treasure Star Gem and Jewellery Co Limited, Palace Gems and Say Lwe from Burma will be the overseas participants in the jewellery exhibition.