Address by Governor at the inauguration of the Indian Jewellers Week organized by the India Bullion and Jewellers Association Ltd

Address by Shri CH. Vidyasagar Rao, Governor of Maharashtra at the inauguration of the Indian Jewellers Week organized by the India Bullion and Jewellers Association Ltd. at Zaveri Bazar, Mumbai at 1200 hrs on Monday, 1 October 2018

Shri Rajpurohit, Hon’ble Member of the State Legislative Assembly, Shri Mohit Kamboj, President, India Bullion and Jewellers Association, Shri Prithviraj Kothari, Vice President, members of the Association, members of the Gem and Jewellery fraternity, business leaders, delegates, ladies and gentlemen,

नमस्कार. आज इस शहर के जाने-माने झवेरी बाजार मे आकर, तथा आप सबको मिलकर बहोत आनंद हुवा.

India Jewellery Festival तथा Indian Jewellers’ Week मे शामिल होने के लिये यहापर आये सभी ज्वेलर्स, Gem & Jewellery क्षेत्र से जुडे व्यापारी गण, उद्योजक, तथा देश के विभिन्न प्रदेशोंसे पधारे प्रतिनिधीयोंका मै मुंबई महानगरी मे सहर्ष स्वागत करता हू.

At the outset I congratulate the India Bullion & Jewelers Association (IBJA) for conceiving this mega India Jewellery Festival and hosting it in this ‘Jewellery District’ of Mumbai.

Mumbai is not just the capital of the State of Maharashtra. Mumbai is the Financial capital of India. Secondly, Mumbai is also home to Bollywood and therefore the Film Capital of India. I have no doubt in my mind that with your participation and wholehearted support, Mumbai will emerge as the Gem and Jewellery capital of India.

Zaveri Bazar, as the name suggests, has an identity and history of its own. This Bazar is not only one of the world’s largest market, but also one of the oldest, having a proud heritage of many years.

Zaveri Bazaar may appear congested and geographically small, but the contribution of Zaveri Bazar to the economy of the city and the State is disproportionately high.

The timing of organizing the India Jewellery Festival could not have been more appropriate.

The Indian festive season has started. The Navaratri and the Dussera festival are just round the corner. It will be followed by Diwali.

I am sure, this Business to Business meet will take the bullion business in Mumbai and in the country at large to the next higher level.

The India Bullion & Jewelers Association (IBJA), the host of this Festival, has an impressive record of service to the Gem and Jewellery profession and its members. I understand that the Association has completed 99 year of its existence as an apex organization for Bullion dealers & Jewelers. I applaud the Association for its consistent good work, as it steps into its Centenary Year.

Ladies and gentlemen,

I understand that there are many advantages offered by the Festival to businesses. This festival will reduce marketing cost of the sellers and will indirectly benefit the buyers, as there will be zero insurance and exhibition cost.

Secondly, the Jewellery Festival has brought all retailers on a common platform. This will enable manufacturers and wholesalers to do hassle-free business in a secured environment from their own shops.

With the arrival of the revolutionary Goods and Services Tax (GST), it is not necessary to move goods from one state to another for exhibition and trade shows.

From the perspective of the State, the Festival will generate huge revenue for the State as thousands of visitors are expected to visit Zaveri Bazar during the next week.

Ladies and gentlemen,

I have great expectations from the Association, and from its members.

We have to admire the fact that women are the greatest consumers of the gem and Jewellery industry. Time has come to make conscious efforts to involve women in Jewellery business.

I want the Association to encourage more women to join the Jewellery industry, business and trade. Women must be encouraged to take up important positions on your decision-making bodies.

Secondly, we must have an Innovation Hub for the bullion trade. The Hub will encourage and incubate fresh ideas for the growth of the business and make the business competitive.

The Jewellery business creates a lot of opportunities for employment. We must have an apex institution dedicated to training, research and skill development in this business. Every worker should get an opportunity for skill training, skill development and skill upgradation.

Artisans and workers are the backbone of the business, and therefore welfare of the artisans must receive highest priority.

As the Association steps into its Centenary Year, the India Jewellery Festival must expand and become Business to Consumer festival.

I will call upon the India Bullion and Jewellers Association to organize Business to Consumer Meet from the next edition.

It is quite possible to make this Jewellery festival a nucleus, and organize a full-fledged ‘Mumbai Shopping Festival’ around it.

I have no doubt in my mind that the ‘Mumbai Shopping Festival’ will become extremely popular like the ‘Dubai Shopping Festival’ and attract tourists and visitors not only from India, but also from various countries of the world.

Like the Systematic Investment Plan, the India Bullion and Jewelers Association must encourage customers to accumulate gold and silver through systematic monthly investment. The India Jewellery Week has created a win-win proposition for all of you, and I believe that every participant and visitor will be a winner.

I want Indian jewellers to conquer the world by making India Jewellery a brand name, known for quality, trust, beauty and affordability.

Ethics is the backbone of trade and I will call upon members to observe the principles of ethics and morality scrupulously.

Let me assure you that the gates of Raj Bhavan shall always remain open for the Association and its members. I congratulate the Association for organizing the India Jewellery Week and wish all the participants a great week ahead.

Thank you

Jai Hind ! Jai Maharashtra !!