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Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

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01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

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25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

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18 march 2024

Union Minister Shri Piyush Goyal inaugurates GJEPC’s largest-ever IIJS Signature 2024 Gem & Jewellery Trade Show

08 january 2024

India's Union Minister Shri Piyush Goyal inaugurated the New Year’s first and largest-ever India International Jewellery Trade Show --- IIJS Signature Gem & Jewellery Trade organised by the Gem & Jewellery Export Promotion Council (GJEPC) on 4, January 2024.

The Show was held at two venues in Mumbai: JIO World Convention Centre, BKC (4-7 January) & Bombay Exhibition Centre, NESCO, Goregaon (5-8 January). Gracing the momentous occasion along with Chief Guest Shri Piyush Goyal were Shri Joy Alukkas (Chairperson, Joyalukkas); Shri Vipul Shah, Chairman, GJEPC; Shri Kirit Bhansali (Vice Chairman, GJEPC); Rajesh Kumar Mishra, IRS Zonal Development Commissioner, SEEPZ-SEZ and others.

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Shri Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution & Textiles, Govt. of India, said, “Under Prime Minister Narendra Modi’s guidance India can become the global epicentre of the gem & jewellery industry with a holistic ecosystem encompassing all diverse constituents and elements. Massive investments are being made to create a world-class infrastructure including the 20-acre India Jewellery Park in Navi Mumbai and a common facility centre in SEEPZ Mumbai with most modern machinery and equipment. The infrastructure impetus can empower MSMEs in the gem & jewellery industry to build global competitiveness and expand their business in a very modern and efficient environment. After the success in Dubai post the India-UAE CEPA, we are planning to open a new India Exposition Centre in Hong Kong to gradually spread our wings to capture world markets across borders. Jewellery design should become our next big export. Our young, talented and skilled workforce help us merge fashion and jewellery into an unbeatable & desirable combination. The emphasis has to be on making India the design destination of the world for fashion and jewellery. The fashion+jewellery combination can make India a coveted and preferred wedding destination for the world. The Surat Diamond Bourse has already become a benchmark globally and this competitive spirit will take Indian industry to greater heights. India has the potential to become the world’s largest gem jeweller, proficient lab grown diamond maker, impeccable design centre and technologically advanced machinery manufacturer all under one platform. It’s time we embark on the journey to realise our true potential and show our prowess to the world.”

Shri Vipul Shah, Chairman, GJEPC, said, "India is today a powerhouse of jewellery manufacturing and the domestic gem & jewellery market, which is currently valued at $44 billion will grow to $134 billion by the year 2030 with a CAGR of 17.35%. The Indian gem & jewellery industry shares our beloved Prime Minister’s dream of becoming a $5 trillion economy by 2030 and a first world nation by 2047."

Mr Joy Alukkas, Chairperson, Joyalukkas Group, said: "Thanks to the very efficient leadership of our country. Honourable Union Minister Shri Piyush Goyal is doing everything for our gem & jewellery trade. The initiatives of GJEPC are also worth mentioning and commendable. I am very optimistic about the future of our industry and I feel very proud to be a part of this."

Shri Nirav Bhansali, Convener-National Exhibitions, GJEPC, said, "As the first show of the year, IIJS Signature plays a crucial role in gauging demand from both domestic and global buyers. The dual-venue expansion is intended to provide exhibitors and visitors with additional space, creating a conducive and spacious atmosphere for productive business interactions.”

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished