50-day gold show in Bangalore

It takes more than just gold to lure jewellery buyers at a time when high gold prices are threatening to dull the growth of the gold market in India.

To boost sales of gold and jewellery, the World Gold Council and the Art of Jewellery magazine is organising the Karnataka Gold Festival 2005 as a 50-day event to coincide with the festivals of Ugadi and Akshaya Tritiya and the wedding season as well.

"The response from the jewellers all over Karnataka has been over-whelming and we sincerely believe that the jewellery trade will immensely benefit through this combined initiative" says K Shivram, vice-president of the World Gold Council.

Sumesh Wadhera of the Art of Jewellery magazine said, "We are very happy to bring the entire jewellery trade in the state on a common platform to promote and drive the jewellery sales. Karnataka Gold Festival 2005 will be one of the biggest jewellery shopping festivals in India."

The festival will start from April 4 and be open till May 25.

More than 500 major jewellers will set up outlets at the vent, which is supported by all the jewellery associations of Karnataka, the organiser claimed.

They said the Bangalore Gold Festival 2004 was a huge success. This year's show will be even bigger, they said, as businesses from all over Karnataka were involved.

At the event, prizes in gold equal to 5kg would be distributed to buyers through lucky draws and this would include a 1kg gold bumper prize.

Draw coupons will be distributed with every purchase of jewellery worth Rs 2000 and multiples thereof. To attract buyers to the fair, parallel activities and events will be organised at the venue.

For example, Malaysia Tourism would be sponsoring a free holiday package for three participating jewellers and two buyers.

Vasundhara Das, singer and actress, has been signed on as the brand ambassador for the festival.

Vasundhara Das pointed out, "I am excited to be associated with the festival and take great pride to be the brand ambassador. This festival will promote the jewellery sales in Karnataka and give consumers the opportunity to win up to 5kg of gold.

The event was being co-sponsored by ICICI Bank, Diviniti, Vijay Times, Airtel and Malaysia Tourism.