IIJS Signature Exhibition Gets Orders Worth Rs 30,000 Cr
The recently concluded, IIJS Signature 2023, this year’s first and largest jewellery trade show, has booked orders worth Rs. 30,000 crore, as per the initial estimates by The Gem & Jewellery Export Promotion Council (GJEPC).
Vipul Shah, Chairman, GJEPC, said, “Despite several global headwinds international buyers showed keenness to source gem & jewellery from India after the recent successful FTAs with the UAE and Australia.” He added, “Genuine serious buyers added to the momentum of business generation even as enthusiastic Indian jewellers presented their best-ever creations of the last two years. Indian trade was buoyed by strong double-digit growth posted in Plain Gold jewellery exports in December 2022 y-o-y and for April-December 2022 period. Overall, the sentiment is quite bullish.”
For December 2022, the total gross export of Plain Gold Jewellery grew 21.31 per cent to Rs 2,369.74 crores (10.97 per cent in dollar terms to US$ 287.46 million) as compared to Rs 1,953.46 crores (US$ 259.05 million) for the same period last year. In the financial year-to-date (April to December 2022), provisional gross export of Plain Gold Jewellery grew 20.98% to Rs 24,242.91 crores (12.81 per cent in dollar terms to US$ 3,041.93 million) as compared to ?20,038.33 crores (US$ 2,696.50 million) for the same period last year.
Kirit Bhansali, Vice Chairman, GJEPC, said, “The Government of India’s recent initiatives to boost exports of gem and jewellery exports and make the country a global hub are helping to attract more and more international buyers. India is in the limelight, thanks to initiatives such as the UAE CEPA and the Australia ECTA coupled with the China Plus One strategy. Boosting infrastructure such as Jewellery Parks, Mega CFCs and Training institutes, which promise job creation and skill development are making India more attractive to international buyers.”
The highlight of IIJS Signature 2023 was the masterpiece creation of a magnificent Lord Ganesha gold pendant weighing 1.3 kg and specially carved and embellished with 36,000 diamonds. GJEPC Chairman Vipul Shah and Tushar Agarwal, MD, Shiv Narayan Jewellers launched this spectacular piece that is all set to smash its way into the Guinness Record Book.
While some participants hailed IIJS Signature as the Best Platform for spearheading B2B growth in the gem & jewellery industry, others said that they were putting their best foot forward post the pandemic to enhance their growth trajectory. Still others pointed out that IIJS Signature bridges the gap between the manufacturer, wholesaler, retailer and other trade constituents. Many from remote parts of the country said that IIJS Signature gave them a voice and an opportunity to match as well as compete with others to catch the eye and attention of domestic and international buyers. Participants catered to different benchmarks such as trendsetters, quality, innovation, hand-made craftsmanship and mass manufacturing in jewellery.
Nirav Bhansali, Converner-National Exhibitions, GJEPC, said, "IIJS Signature 2023 witnessed the One Earth green initiative, which marks the first-ever large-scale pro-environment initiative by any trade organisation or EPC in India. IIJS Signature witnessed trail-blazing initiatives such as Innov8 Talks, Innov8 Launch Pad, Design Gallery for Women Entrepreneurs & Budding Designers among others. The new section for Lab-Grown Diamonds reflects the sign of the times to come. GJEPC's One Earth initiative was a huge success with commitments for planting 50k trees. The initiative saw contribution from exhibitors, visitors, media, associations and agencies involved in organising the IIJS.
The entire show floor of IIJS Signature 2023 and IGJME 2023 was spread across six halls of the Bombay Exhibition Centre (NESCO), Goregaon, Mumbai, encompassing 65,000 sq. ft. IIJS Signature accommodated more than 1,300 exhibitors displaying in 2,400+ booths. IIJS Signature had 20,000 visitors from 10,000 domestic companies attending the show. GJEPC introduced a new section for lab-grown diamonds. IGJME had 90+ companies displaying across 115+ booths.
In spite of the continuing Russia-Ukraine strife and pandemic scare, IIJS Signature saw record number of 800+ foreign visitors from 60 countries. Delegations came from 10 countries including: the US, Canada, the United Kingdom, Malaysia, Sri Lanka, Iran, Bangladesh, Nepal, UAE, Bahrain and Russia. For the first time a delegation had come from Saudi Arabia with 18 prime buyers.
