News Bureau

The sector to grow to Rs 500KCr to 530K Cr by 2018

Myheera.com is the India’s first online B2B platform for the gems & jewellery industry for exploring a possibility of an interaction with your esteemed publication with Puja Bansal, Founder & Director of the portal.

The portal hosts manufacturers, retailers and traders apart from other industry professionals including educational institutes, jewellery plants & machinery suppliers, jewellery laboratories/ hallmarking centres, jewellery dedicated lawyers, jewellery craftsmen, photographers, designers etc. The portal is subscription based where different stakeholders register themselves to connect with prospective clients. The portal has tied up with Dun & Bradstreet for the verification of its registered members.

Opened for registration in the first week of August, the portal got more than 5000 registrations by the end of the month and out of all, 25% registrations came from Tier 3 cities including Bahadurgarh, Aligarh, Rewa, Kottayam, Agra, Moradabad, etc. Foreign registrations have also come from Canada, Israel, US, China and some European countries.

A certified diamond grader herself, Puja ventured into this business with an aim to make the portal a Google for the jewellery industry. She comes from a family of jewellers who have been in this business for more than 50 years under the brand name of Khandelwal Jewellers Ltd (KJL), a famous jewelry brand known for its strong legacy. Hence she understood the challenges before this industry which is largely driven by close-knit network.

In is the situation the Gems and jewellery sector being one of the fastest growing sectors contributing around 6-7 per cent of the country’s GDP. Extremely export oriented, the sector contributed US$ 39.9 billion in terms of foreign exchange earnings in FY 2014-15. The sector is expected to grow to Rs. 500,000–530,000 crore (US$ 80.59-85.43 billion) by 2018.

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