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GJC presents Preferred Manufacturer of India (PMI) ExhibitionIndustry’s favourite business + leisure event

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The All India Gem and Jewellery Domestic Council (GJC) presented the much-anticipated Preferred Manufacturer of India (PMI) exhibition, a three-day event, from February 6th to 8th, 2024, at the prestigious Hyatt Regency in Gurugram. The event was inaugurated with great enthusiasm by distinguished guests Vibha Rani, Director & Head BIS, Faridabad, and Shri R Arulanandan Ji, Director of the Ministry of Commerce & Industry.

The exhibition featured a dazzling display of 46 stalls, showcasing their craftsmanship and received a roaring start with approximately 150 leading jewellers from across the country. This congregation of talent and expertise is a testament to the thriving jewellery industry in India and its ability to set global standards. Attendees explored a diverse array of exquisite pieces, ranging from traditional to contemporary styles, all under one roof.

 Saiyam Mehra, Chairman (GJC), expressed his excitement about the event, stating, “PMI stands as an exclusive exhibition, not merely a showcase; it embodies a celebration of the rich heritage and craftsmanship that our nation proudly boasts. This platform allows us to unveil the pinnacle of Indian jewellery to the world.”

Rajesh Rokde, Vice Chairman (GJC), echoed this sentiment, adding, “PMI serves as the quintessence of exclusivity, bringing together the industry’s finest minds and talents. It acts as a melting pot of innovation and tradition, laying the foundation for the future of Indian jewellery.”

Madan Kothari, Convenor of PMI, emphasized the significance of the event in promoting India’s reputation as a global hub for quality jewellery manufacturing. He remarked, “PMI brings together the best manufacturers in the country, offering visitors an unparalleled opportunity to witness the richness and diversity of Indian jewellery heritage. During this PMI, we will be honouring the Jewels of the North—acknowledging and celebrating their contributions in the jewellery industry “

Joint Convenor of PMI, Chetan Thadeshwar, highlighted the importance of such platforms in driving innovation and excellence across jewellery craftsmanship. “Events like PMI not only showcase existing talent but also inspire jewellers to push boundaries and explore new avenues of creativity, this time we are excited to present a fashion show – highlighting exclusive designs. Prepare for an evening of unparalleled glamour and style, promising to be unforgettable as part of our PMI.” he remarked.

The PMI exhibition at Hyatt Regency Gurugram captivated jewellery enthusiasts and industry professionals alike with its stunning displays and insightful interactions by making it Industry’s favourite business + leisure event. This exhibition was a journey through the finest creations and innovations, setting the stage for a bright and promising future for the Indian jewellery industry.

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JB Insights

From Customer Intelligence To Autonomous Growth Intelligence: Deepansh Bhargava Senior Vice President & Head Marketing at VBJ

From Customer Intelligence To AI-powered Growth Decisions, The Next-Gen CDP Is Built To Create Measurable Incremental Value.

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For the last 6 years, Customer Data Platforms have transformed how brands understand their customers. They have brought fragmented data together, created unified customer profiles, enabled segmentation and made personalisation more intelligent. But the next evolution of CDPs will not be defined by how much customer data they can organise. It will be defined by how intelligently AI can convert that data into consumer value and incremental business outcomes.

The shift is from Customer Intelligence to Growth Intelligence.

Businesses today know more about their existing customers than ever before their purchase history, frequency, preferences, lifetime value and likelihood of buying again. Yet the larger opportunity lies in moving beyond what customers did to understanding what they need next, where their behaviour is changing and where the next phase of growth will come from. This also requires a sharper focus on incrementality.

Revenue, ROAS, conversions and engagement tell us what happened. But they do not always tell us how much of that outcome was created because of an intervention and how much would have happened anyway.

That difference is the Delta. AI can help take CDPs beyond systems of customer intelligence and turn them into systems of consumer and commercial decision intelligence. Instead of simply identifying customers with a high propensity to purchase, an intelligent growth system could identify intent, unmet needs and moments that matter then evaluate opportunities across acquisition, retention, frequency, basket size, category penetration, pricing, media, events and geography to identify where the highest incremental growth opportunity lies.

Growth intelligence should also help businesses identify where growth is likely to disappear. Early signals from customer behaviour, categories, geographies or spending patterns could reveal risks long before they become visible in the P&L. AI could identify the source of the risk, estimate its potential commercial impact and recommend interventions to change the trajectory. This is where the future becomes particularly interesting.

AI should not just predict customers. It should increasingly help predict the business.

The next generation of AI agents could continuously monitor customer behaviour, sales, categories, inventory, geographies, media and store performance. They could identify anomalies, form hypotheses, estimate commercial impact, recommend interventions, test them and measure the incremental outcome.

The role of the marketer would evolve from simply managing campaigns to managing the intelligence, strategy and guardrails around a more autonomous growth system.

This evolution can be built around three principles: Anticipate, Act and Account.

1. Anticipate where consumer needs and growth will emerge and where they may disappear.

2. Act by identifying and eventually executing the most relevant intervention for the consumer and the business.

3. Account for whether that intervention genuinely created incremental value.

The CDP of the future, therefore, should move beyond being a platform that simply manages customer data. It should become a Growth Decision Platform one that helps businesses understand consumers better, identify opportunities, detect risks, recommend actions, measure incrementality and continuously learn from every intervention. The ultimate measure of such a platform should not be the volume of data it manages.

It should be much simpler:

Show me the Delta you create.

Because ultimately, consumer centricity is not the opposite of growth. It is where sustainable growth begins.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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