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DUBAI GOLD AND JEWELLERY GROUP

The Dubai Gold & Jewellery Group (DGJG) announced the appointment of its new board of directors for the years 2012-2014 at the 14th annual general meeting held last month. The DGJG is a trade association with over 600 members representing all sectors of the trade, including bullion trade, manufacturing, wholesale and retail. Its key activities include working closely with Dubai Establishment and Promotions Establishment (DEPE) to support the Dubai Shopping Festival (DSF).

At the annual general meeting which was held last month at Dubai Chamber of Commerce, Sunny Chittilappilly was selected as the new chairman of the board of directors. Sunny, who also serves as the managing director of Chittilappilly Jewellers LLC, will head the group's executive committee, which comprises five other members.

"Over the past few years, the DGJG has been driven by growth and innovation in the jewellery sector, which has helped strengthen Dubai's jewellery trade and promote Dubai as 'The City of Gold'. While continuing the good work set forth by the previous board, the new board will further sharpen its focus on member beneficial activities and strive to enhance the flow of trade both in terms of quality and price," said Chittilappilly.

"On behalf of the new board of directors, I would like to thank all members of the jewellery fraternity for their support and faith in our leadership as a team," he added.

The other committee members include Chandu Siroya, who takes over as vice chairman; Anil Dhanak, who assumes responsibilities as the managing director; Paresh Dhanak as the secretary of the group; Anurag Sinha as the joint secretary; Abdul Salam as the treasurer and Chirag Vora who has been appointed the joint treasurer.

The DGJG represents the interests of the trade through liaising with government and also works closely with international organisations like the World Gold Council, the World Diamond Council, the International Gemological Institute (IGI), High Diamond Council (HRD) and CIBJO (The World Jewellery Confederation).

Dubai has historically been an international hub for the physical trade of gold, diamonds, coloured stones and pearls. A recent study stated that Dubai imports 300 tonnes of gold for retail and wholesale on an annual basis. The approximate value of this trade is Dhs12 billion ($3 billion) annually. The report added that with approximately 90% of the current 5 million tourists visiting gold and jewellery stores, the industry will continue to play a significant role as an internationally recognised gold and jewellery centre.


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