As part of its Global Market Insights series, GJEPC‘s Research Division presented a webinar on August 22nd for Indian businesses aiming to extend their presence in the UK market. Over 130 people attended the event, demonstrating the increased interest in selling stones and jewellery to the United Kingdom.
Dr. Rashmi Arora, Economist of GJEPC, underlined the UK’s role in meeting the government’s ambitious goal of $1 trillion in exports by 2030. The UK’s high desire for innovative designs, expensive commodities, and ethically sourced products creates a big opportunity for Indian exporters.
Guest Speakers Mr. Jayant Raniga, CEO of Pure Jewels, and Mr. Lennox Addo, Co-founder and Event Director of the Jewellery Show, London, both underlined a shift in customer tastes in the UK market. Consumers are increasingly seeking brands that value sustainability, ethical sourcing, and transparency. Indian exporters were encouraged to tailor their offers to reflect these principles, particularly those emphasizing fair trade methods and environmental stewardship.
The webinar cited digital platforms, e-commerce, and blockchain technology as critical techniques for breaking into the UK market. These techniques can increase transparency and confidence among consumers, who place a higher value on online purchases.
The approaching Jewellery Show in London on September 1st and 2nd, 2024, was highlighted as a fantastic chance for Indian exporters. The webinar also urged Indian exporters to use digital platforms, e-commerce, and blockchain technology to improve transparency and create confidence with consumers, who are increasingly valuing online shopping.
Adopting sustainable practices was recognized as another critical strategy. UK customers are clearly willing to pay a premium for environmentally friendly and ethically sourced products.
The webinar finished by providing a road map for Indian gem and jewelry exporters wishing to develop into the UK market. Understanding the particular characteristics of the UK market, adjusting to new trade realities, and embracing technology and sustainability can help Indian enterprises dramatically expand their footprint.