GJEPC’s IIJS Premiere 2023 records Rs. 70,000 crore in sales

Surat : The Gem & Jewellery Export Promotion Council (GJEPC)’s 39th IIJS Premiere 2023 saw record commerce of over Rs. 70,000 crore for the sector. The second biggest gem and jewellery expo in the world drew 50,000 people to JIO World Convention Centre (3-7 August) and Bombay Exhibition Centre, NESCO, Goregaon (4-8 August).

The paperless and digital IIJS Premiere included 3,250 booths and 1,850 exhibitors in 70,000+ sq. mtrs of exhibition space over two locations. The event drew approximately 2,100 people from 65 nations, including the US, UK, UAE, Australia, Canada, New Zealand, Fiji, Saudi Arabia, Qatar, Iran, Muscat, Italy, Bangladesh, Bahrain, Kuwait, Germany, Turkey, Singapore, Thailand, Vietnam, Cambodia, Sri Lanka, and others. The 16-nation guest list gave the event unmatched worldwide importance. More than 25 Mumbai hotels purchased 10,000 room nights for exhibitors and guests! The machinery sector comprised an Italian Pavilion and 7 nations’ exhibitors.

Shri Sunil Barthwal, Commerce Secretary, Department of Commerce; Mr. Mike Hankey, Consul General, Consulate General of USA; Dr. Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA; Mr. Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group; Mr. G.R. Radhakrishnan, Managing Director, GRT Jewellers India

At IIJS Premiere, Commerce Secretary Shri Sunil Barthwal met with foreign delegations and GJEPC board members. Shri Barthwal stated, “IIJS is one of the world’s largest gems and jewellery exhibitions, and we can be proud of what we do. The labor-intensive gem and jewellery industry is vital to the government. It inspires our young to cut, polish, and create jewellery. I believe this is one of the most diverse sectors and crucial to us. The government is monitoring the whole gems and jewellery value chain, from mining to retailing. We want to grow the high-end studded diamond jewellery segment.”

According to GJEPC Chairman Vipul Shah, “IIJS Premiere 2023 broke all records and beyond our expectations. It single-handedly reversed market attitudes and accelerated the economic cycle, just in time for the holidays and weddings. IIJS Premiere 2023 earned ₹70,000 crore in trade revenue, exceeding expectations. IIJS has clearly distinguished itself as an exhibition.”

Shah continued, “Drawing participation from 65 different countries, and a varied assemblage of over 2100 international buyers, this gathering holds the potential to breathe new life into the country’s exports in the months to come.”

Mr. Mike Hankey, Consul General, Consulate General of USA, stated, “I congratulate the gem and jewellery industry for IIJS Premiere 2023. My own experience shows that the US recognises the diamond manufacturing industry’s significance to India and its contribution to employment.”

Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group, stated, “It’s apparent from IIJS Premiere 2023’s success that India will be a wonderful development platform. India was the fastest-growing major market this year and one of the world’s top markets. We have a comprehensive footprint and plan for global concerns including carbon footprint, diamond traceability, environmental gem stones, socio-economic growth and diversification, etc. Natural diamonds are the greatest emblem of love, and effective jewellery company work benefits all stakeholders.”

GJEPC unveiled the India Jewellery Park, Mumbai logo on this special day. Kirit Bhansali, Vice Chairman, GJEPC and former Chairman of India Jewellery Park, stated, “As things come to normal, not only in India but also around the world, the industry will see a burgeoning demand for gems and jewellery. The ambitious GJEPC jewels park shows our dedication. Jewellery Park Mumbai is a groundbreaking integrated gem and jewellery industrial park with production units, commercial spaces, industrial worker homes, and extensive commercial support services. This strategic programme will help jeweller producers and dealers grow into Maharashtra, creating new companies and strengthening current ones. This revolutionary initiative is expected to create 1 lakh new sector jobs, boosting the region’s economy and employment.”