Gold market is glittering in India, and it is the apex World Gold Council (WGC) that is going to make the yellow metal dazzle more.
WGC will conduct nearly 30 workshops across the Indian cities as a prelude to Au DITIONS, a competition for gold jewellery designers. Au DITION is aimed at identifying three trend-setting designers, whose works will be showcased worldwide.
According to Madhumita Dutta, WGC's head of marketing in India, the theme for this year is trend-setting gold. "We believe the promotion of innovative products and designs will help increase consumption of gold jewellery worldwide," she said.
The competition is considered to be the Oscars of the gold jewellery designing. It was previously held in Brazil, South Africa and China and West Asia. In India, it is the second time that WGC is organizing the jewellery design show.
Dutta said noted fashion designer Raghavendra Rathore would judge the entries on the basis of originality and innovation. Twenty entries will be shortlisted and the final three winners will be selected from those.
With the WGC certification, designers would be able to promote their designs internationally, Dutta said.
India, which is the world's largest gold market in tonnage terms, achieved all-time records in gold jewellery and retail investment. Indian demand for jewellery and retail investment saw a massive 72% rise in the first half of 2007 amounting to 528 tonnes.
India's total demand for gold in Q2 2007 totaled 317 tonnes which was equivalent to half the global mine output for the quarter.
