One of the world's largest gem and jewellery B2B trade shows in India has closed with record $11.9 billion in business orders, the Gem & Jewellery Export Promotion Council (GJEPC), the main organiser, announced on Tuesday.
The 40th edition of IIJS Premiere 2024 was held from August 8 to 13 in Mumbai, across two exhibition centres with a total area of over 135,000 square metres, with over 3,600 booths and 2,100 exhibitors. The show was attended by over 50,000 distinguished buyers, including representatives from 15 international delegations and 13 countries – Cambodia, Iran, Japan, Malaysia, Nepal, Russia, Saudi Arabia, Sri Lanka, Thailand, Turkey, United Kingdom, Uzbekistan.
According to GJEPC Chairman Vipul Shah, IIJS Premiere 2024 “clearly reflected the shift towards catering to millennials and Gen Z”. “This year's event set new benchmarks in innovation and creativity, bringing together the finest talents in the industry,” he said. “The overwhelming response from buyers and the enthusiasm of exhibitors reaffirm our commitment to making IIJS the premier platform for the gem and jewellery industry.”
Commerce and Industry Minister Piyush Goyal announced the reintroduction of the Diamond Imprest Licence as a key policy initiative for the gem and jewellery industry. In addition, he noted that the country’s recent decision to reduce duties on gold, silver and platinum would inure country’s booming gems and jewellery sector and create new jobs.
India, the minister said, aims to set up a Mumbai or Surat centre similar to the one in Antwerp. “We are also in talks in De Beers, Kimberley Process to segregate diamonds and trace their origins,” he added. “However, there is no technical mechanism and no protocol in this regard and we are jointly working towards this.”
This year, the number of brands participating in the exhibition has increased from 60 to 101.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
