5,000 big and small retail jewellers to participate in GJC’s India Jewellery Shopping Festival

The aim is to emulate the success of the Dubai Shopping Festival, and promote India as a jewellery tourism destination

The All India Gem and Jewellery Domestic Council (GJC) has announced the India Jewellery Shopping Festival (IJSF), a B2C direct marketing initiative in which big and small retail jewellers across the country will participate. The B2C festival – to be held from October 12 to November 17, 2023 – aims to provide gratification to consumers on purchase of jewellery, based on a threshold value spent at a retail store. The trade body outlined the aims of the IJSF initiative, with Dinesh Jain, Director and IJSF Convener, GJC, Saiyam Mehra, Chairman, GJC, Manoj Jha, Joint Convener and Rajesh Rokade, Vice Chairman, GJC, addressing the Press jointly.

Dinesh Jain, Director and IJSF Convener, said, “Emulating the enormous success of the Dubai Shopping Festival is our primary goal.IJSF will attract an estimated 2.4 million end customers and we expect sales worth Rs1,20,00 crore. IJSF will have a positive impact on India’s current account deficit (CAD). Further, it will increase contribution to GDP growth from the jewellery industry.” Approximately 5,000 distributors, retailers and corporates across 300 cities in the country, except those in Tamil Nadu, will participate in IJSF. Only GJC members are allowed to participate. The B2B part of the event started on June 1 and will go on till November 30.

In 2021-2022, India’s gem and jewellery exports increased by 54.68% over the previous year, reaching $ 39.45 billion. “Only 10% of the world’s 200 countries produce jewels. As a result, the industry’s great potential has been highlighted. Our goal is to develop our country as the top destination for all jewellery enthusiasts and to promote jewellery tourism in India, which is world-renowned for its intricate designs and remarkable craftsmanship. We also wish to provide cost-effectiveness by facilitating GST refunds and import charges for visitors,” Jain added.

Consumers will be eligible to get an assured gift with every coupon. Post validation of the coupon by the consumer, they will be entitled to participate in a periodical lucky draw and a bumper draw. Gold coins and up to 1 kg of jewellery per zone are being offered as prizes through lucky draws. Moreover, to celebrate India’s 75 years of Independence, customers will assuredly get special edition Amrit Mahotsav silver coins on the purchase of every Rs 25,000 at retail outlets which are part of IJSF. Actor Bhagyashree launched the Amrit Mahotsav silver coins initiative at the event.

IJSF will be managed digitally. Every distributor, retailer and consumer will have a login facility on the festival app to transfer, track and validate the coupons awarded to them. Data privacy is GJC’s priority, and the process advisor EY and app developers are ensuring that privacy and confidentiality of the data are maintained.

This initiative also aims to provide an impetus to the new generation of Indians to invest in gold for social security. Saiyam Mehra, Chairman, GJC, said, “Key industry participants have shown significant interest in IJSF. Consumers and producers of jewellery both benefit from the event. The jewellers have the opportunity to expand and increase their sales. Meanwhile, shoppers find and save the carefully created pieces for special occasions such as weddings. The GJC guarantees significant income prospects by harnessing the involvement of the full value chain in this event. We have an Rs 80 crore marketing budget for the event that will especially benefit small jewellers. Promoting the participation of recognized jewellers with established business models fosters professionalism and adherence to best business practices at IJSF.”

The gems and jewellery industry is much more organized now, which makes it easier for the GJC to introduce such initiatives that will collectively benefit manufacturers, big and small retailers as well as end consumers.

Retail Jeweller India News