IIJS Premiere 2023 by GJEPC wraps up with estimated Rs 70,000 Cr business

The six-day long Indian International Jewellery Show (IIJS) Premiere 2023, organised by the Gem and Jewellery Export Promotion Council (GJEPC), culminated on August 8 where more than 1,800 exhibitors from gold, silver, platinum, natural diamonds, lab-grown diamonds, and precious and semi-precious stones industries participated and showcased their jewellery to attendants from across the country. 

The event is expected to generate Rs 70,000 crore worth of business, according to Vipul Shah, Chairman, GJEPC.

The core theme of IIJS Premiere 2023 revolved around augmenting India's jewellery exports. Shah acknowledged the government's proactive reforms and initiatives, accentuating their commitment to bolstering exports while appreciating the labour-intensive ethos of the gem and jewellery domain.

GJEPC unveiled a series of strategic initiatives, hosting the India Show in tandem with the Hong Kong exhibition in September.

A quick rundown of the events

The opening of the show was marked with the presence of Guests of honour like Mike Hankey, Consul General, Consulate General of USA; Dr Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA; Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group; and G R Radhakrishnan, Managing Director, GRT Jewellers India along with Kirit Bhansali, Vice Chairman, GJEPC; Nirav Bhansali, Convener, National Exhibitions; Mitesh Gajera, Co-convener, National Exhibitions, GJEPC, and Sabyasachi Ray, Executive Director among others. 

The fourth day of the event saw Commerce Secretary Sunil Barthwal engage with over 150 international delegates. Here, he addressed trade challenges, and explored collaborative opportunities, paving the way for enhanced exports. The other countries represented were Turkey, Iran, Nigeria, Vietnam, Cambodia, Thailand, the UAE, Kuwait, Jordan, Japan, and Saudi Arabia.

Barthwal emphasised the pivotal role of IIJS as one of the globe's premier gems and jewellery exhibitions, a sector that holds immense significance due to its labour-intensive nature, fostering creativity and employment opportunities across various segments. “As the government, we’re looking at the whole value chain of gems and jewellery, right from mining to the final selling. In particular, we’re looking to develop the studded diamond jewellery segment which is at the higher value end,” he added.

Vipul Shah expressed gratitude for the consistent support of the Union Ministry, both domestically and internationally, reflecting the harmonious collaboration in policymaking.

The event shone a spotlight on cross-border trade facilitated by ecommerce platforms, presenting a strategic path for small-scale gem and jewellery businesses to leverage online avenues, ultimately leading to a surge in exports. 

Speakers like Neha Kejriwal, Category Lead—Jewellery, Gems & Watches; Mariappan Muthiah, General Manager —Ecommerce and Digital at GRT Jewellers (India) Pvt Ltd; and Paavni Varma, Business Development Specialist at Amazon addressed the audience on the ways to enhance their exports. 

The India Jewellery Park Mumbai is set to be a transformative project that propels the gem and jewellery industry in Maharashtra to new heights, said Shah. He also pointed out that the Ministry of Commerce and Industry's backing has led to the establishment of a Mega Common Facility Center (CFC) in SEEPZ, while the Maharashtra government's support has paved the way for a Jewellery Park in Mumbai. Through its integrated approach, state-of-the-art infrastructure, and comprehensive support services, the Park will contribute significantly to the growth and expansion of the Indian jewellery sector. It is estimated to generate one lakh jobs in the sector.

"IIJS Premiere has achieved remarkable success, breathing new life into the gem and jewellery industry. This occasion sets a positive precedent for both export and domestic markets, paving the way for a prosperous festive and wedding season in the forthcoming months," Shah told SMBStory.

The event also saw participants from 65 different countries and 2,000 international buyers, as per Shah.

The 39th edition of the IIJS Premiere was sponsored by the Ministry of Commerce and Industry and simultaneously organised at two venues—the Jio World Convention Centre (JWCC) from August 3 to August 7, and the Bombay Exhibition Centre (BEC) from August 4 to August 8.