GJEPC’s IIJS Premiere 2023 generates highest-ever business of over Rs 70,000 crore

Highlights include 50,000+ visitors across two venues of Jio World Convention Centre and Bombay Exhibition Centre, with 2,100 foreign visitors; felicitation of industry legends and 40-under-40 achievers of the Indian gem & jewellery industry

The 39th edition of IIJS Premiere 2023, organized by the Gem & Jewellery Export Promotion Council (GJEPC), concluded with an overwhelming response generating its highest-ever business of over Rs 70,000 crore for the trade. The second largest gem and jewellery fair of the world had 50,000 plus visitors at the two venues of Jio World Convention Centre (3-7 August) and Bombay Exhibition Centre, NESCO, Goregaon (4-8 August).

The paperless and fully digital IIJS Premiere accommodated 3,250 stalls and welcomed 1,850 exhibitors, spread over an expansive area of 70,000+ sq. mtrs of exhibition area across the two venues. The event witnessed more than 2,100 visitors from over 65 countries, including the USA, UK, UAE, Australia, Canada, New Zealand, Fiji, Saudi Arabia, Qatar, Iran, Oman, Italy, Bangladesh, Bahrain, Kuwait, Germany, Turkey, Singapore, Thailand, Vietnam, Cambodia, Sri Lanka, and many more. The distinguished guest list included hosted delegations from 16 nations, elevating the event to international stature. The event also had an Italian pavilion at the machinery section, which had exhibitors from seven countries.

The presence of Sunil Barthwal, Commerce Secretary, Department of Commerce, Government of India; Mike Hankey, Consul General, Consulate General of USA; Sanjay Mukherjee, IAS, Metropolitan Commissioner, MMRDA; Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group; G.R. Radhakrishnan, Managing Director, GRT Jewellers India Pvt. Ltd.; C K Venkataraman, Managing Director at Titan Company; G.R. Ananthapadmanabhan, Managing Director, GRT Jewellers India Pvt. Ltd.;  along with Vipul Shah, Chairman, GJEPC; Kirit Bhansali, Vice Chairman, GJEPC; Nirav Bhansali, Convener, National Exhibitions; Mitesh Gajera, Co-convener, National Exhibitions, GJEPC and Sabyasachi Ray, Executive Director amongst others made the show a success.

Sunil Barthwal, Commerce Secretary, Department of Commerce,engaged with international delegates and GJEPC board members at IIJS Premiere.“IIJS is one of the largest exhibitions of gems and jewellery in the world, and we can take pride in what we are doing. The gem andjewellery sector is a very important one for the Government because it is highly labour-intensive. It generates a huge amount of creativity among our youth and it is linked to not only the people who are cutting and polishing, but also designing jewellery. So, this is one of the most versatile industries and it’s very important for us. The Government  is looking at the whole value chain of gems & jewellery, right from mining to the final selling. In particular, we’re looking to develop the studded diamond jewellery segment which is at the higher value end,” he said.

Vipul Shah, Chairman, GJEPC, said, “IIJS Premiere 2023 has achieved unprecedented success, surpassing all previous records and exceeding our expectations. It has single-handedly reversed market sentiments and kickstarted the business cycle into high gear, perfectly timed ahead of the festive and wedding seasons. IIJS Premiere 2023 is estimated to have seen business worth Rs 70,000 crore being generated for the trade, which is far beyond anyone’s wildest dreams. As an exhibition, IIJS has truly come into a league of its own.”

“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,” Shah added.

Mike Hankey, Consul General, Consulate General of USA, said, “I congratulate those in the gem and jewellery industry for the success of IIJS Premiere 2023. The United States understands the considerable importance of the diamond manufacturing industry to India and its immense contribution to employment that I’ve seen personally.”

Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group said, “It’s clear from the success of IIJS Premiere 2023 that the landscape in India will be a perfect platform for growth. India was already one of the world’s top markets, but it has also been the fastest growing major market this year. We have a detailed and dedicated footprint and roadmap for global issues such as carbon footprint, traceability of diamonds, gem stones for the environment, socio-economic development and diversification, etc. Natural diamonds are the ultimate symbols of love and good work in the jewellery business improves the lives of all stakeholders.”

At IIJS Premiere, GJEPC launched the logo of India Jewellery Park, Mumbai. Kirit Bhansali, Vice Chairman, GJEPC, who was previously the Chairman of India Jewellery Park, said, “The industry will be witnessing a burgeoning demand for gems and jewellery as things come to normal, not only in India, but also across the world. The new jewellery park, an ambitious project of GJEPC, stands as a testament to our commitment. Jewellery Park Mumbai is an innovative venture, a first-of-its-kind integrated gem and jewellery industrial park, designed to encompass manufacturing units, commercial spaces, residences for industrial workers, and comprehensive commercial support services. This strategic initiative will undoubtedly provide valuable assistance to jewellery manufacturers and traders seeking to expand their presence in Maharashtra, fostering new businesses and fortifying existing ventures. Moreover, this transformative undertaking is projected to generate an additional 1 lakh jobs in the sector, thereby contributing significantly to the region’s economic growth and employment opportunities.”

Nirav Bhansali, Convener of National Exhibitions at GJEPC, said, “I wish to convey my appreciation to both exhibitors and visitors for their incredible support. We saw a remarkable turnout of over 50,000 visitors hailing from 1,100 cities across India, making this the most expansive IIJS Premiere to date. The occasion also saw a substantial presence of more than 2,100 visitors from across 65 nations.”

Announcing the success of the “One Earth” initiative, Nirav Bhansali said, “Since the beginning of this year, GJEPC has embarked on a transformative journey towards environmental sustainability with the launch of the ‘One Earth’ initiative. We are proud to announce that the initiative has surpassed all expectations, achieving the target of planting 1 lakh trees. This remarkable accomplishment is not only making a positive impact on the environment but also generating an astonishing Rs 100 crore for marginal farmers, fostering robust economic growth in rural communities. Moreover, our collective efforts will lead to a reduction of 40,000 tons of carbon dioxide, and will produce an impressive 67,000 tonnes of vital oxygen and create 220 acres of lush green cover, nurturing biodiversity.”

IIJS Premiere felicitated the luminaries of the gems and jewellery  industry, recognizing their outstanding contributions with their dedication and passion that not only elevated  the industry but also inspired generations of craftsmen and entrepreneurs.

IIJS introduced an initiative, Innov8 Global, for the first time, facilitating tailored product-specific matchmaking between international buyers and manufacturers. This innovative platform aims to enhance business interactions and foster productive partnerships like never before.

The IIJS Premiere 2023 also witnessed the GJEPC 40 Under 40 initiative to celebrate exceptional talent and innovation within the industry. This recognition ceremony was graced by influential luminaries as mentors – Sachin Jain of Forevermark, Vaishali Banerjee representing PGI, Colin Shah from Kama Jewelry, and Bobby Kothari of Jewelex, besides the GJEPC leadership. 

In line with its commitment to sustainability and convenience, IIJS Premiere 2023 took a giant leap towards eco-consciousness by going completely paperless. Attendees enjoyed the ease of fully digital badges, making their participation seamless and environmentally friendly.

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