India showcases its gems and jewellery prowess through IIJS Signature: Piyush Goyal

Mumbai: Chief Guest Commerce and Industry Minister Piyush Goyal through a video conference inaugurated the 14th edition of IIJS Signature 2022 today along with Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry & Dairying Govt. of India; Darshana Jardosh, Minister of State for Railways & Textiles; Gopal Shetty, Member of Parliament; Vipul Bansal, Joint Secretary , Department of Commerce, Govt. of India; Colin Shah, Chairman, GJEPC;  Vipul Shah, Vice Chairman, GJEPC; Shailesh Sangani, Convener, National Exhibitions, GJEPC; and Sabyasachi Ray, ED, GJEPC along with others.  

 IIJS Signature is one of the leading gem and jewellery trade exhibitions in Asia 

The show is witnessing more than 950 exhibitors occupying 1,470 booths. There are more than 14000 + pre-registered visitors, including 400 international visitors and delegations from USA, UAE, Egypt, Nepal, Uzbekistan, and Bangladesh.

Piyush Goyal virtually inaugurated the grand event in the presence of the august gathering and acknowledged the gem and jewellery industry for its efforts to generate export revenues despite the challenging times.

Goyal said, “IIJS Signature has truly become the signature event of the Indian jewellery sector that showcases its prowess to the entire world. The event has become an institution by itself and caters to the sourcing needs of jewellery buyers from across the world. The Indian jewellery sector is a prime example of the potential of Make in India. I hope in the years to come, we will have the world looking up to India for sourcing jewellery with our hallmarking standards and assaying that offers a guarantee of quality and will distinguish Indian jewellery from all others.”

Goyal stated, “The gem & jewellery sector is crucial for the economy of our country. It is commendable that the industry has been tirelessly working towards achieving the Prime Minister’s goal of USD 41 billion in exports that have been earmarked for the sector. The industry’s contribution towards the ‘Make In India’ initiative is successful and aligned with the vision of our Prime Minister. The government of India will continue to support and strengthen GJEPC’s vision in driving this sector to new heights.” 

Piyush Goyal further added, “The GJEPC has channelled its entrepreneurial spirit to convert this crisis into an opportunity. Over the last two years, GJEPC had organised virtual trade events, Buyers Seller Meets, India Global Connect, webinars, and many more. These initiatives have helped the industry to bounce back quickly and gave a push both to domestic sales and exports.”

Colin Shah, Chairman, GJEPC said, “As an industry, we have turned adversities into opportunities. It is evident from the export numbers of the financial year 2021-22 that in April – Jan 2022, total exports witnessed a growth of 12.28% in comparison to 2019, the pre-pandemic year. We got the confidence and energy from the Hon’ble Prime Minister Shri Narendra Modi himself, who set a goal of USD 400 billion for the export sector for the financial year 2021-22. Enthused by the performance of 2021-22, the Govt. has set a target for us of over USD 50 billion for the year 2022-23. IIJS Signature is the aggregator of the entire industry. We have diamond jewellery, plain gold, silver, coloured stones, polki jewellery and machinery pavilion, and we expect 15000 visitors from all over India and world. This is the indicator of positive sentiment in the industry and with continued govt. support, there is no reason why we cannot be the gems and jewellery capital of the whole world. We thank our Hon’ble Commerce & Industry Minister Shri Piyush Goyal for his continued and timely support in policy reforms during the pandemic which has helped to revive Gem & Jewellery exports. The e-commerce policy is a long- desired stand and it will further the Prime Minister’s vision of making every district export-ready.”

Parshottam Rupala said, “With the country facing a crisis, it is extremely critical to have events like these to keep the hopes high and motivation going. In reality, this diamond industry is a prime example of our Hon’ble Prime Minister Shri Narendra Modi’s ‘Make in India’ as all the raw material required by the industry is imported and around 94% of the finished products are exported. So we can say that it is a 100% ‘Make in India’ sector.”

Darshana Jardosh commented, “Until now no finance minister has spoken about diamonds in the budget, but this was the first time any Finance Minister spoke about diamonds and a cut in duty. This shows the importance that the Govt. places on this labour-intensive industry. Physical shows such as IIJS Signature increases competitiveness amongst exhibiting manufacturers. While the issue of equalisation levy of 2% is still pending among other demands, the Govt. will examine it soon.”

Acknowledging the support offered by all stakeholders, Shailesh Sangani, Convener, National Exhibitions, GJEPC stated, “IIJS Signature 2022 was possible with wholehearted support from everyone – including exhibitors, buyers, the Central government and Maharashtra government. Everybody has played an important role in successfully putting up a show of this stature.” 

GJEPC is following all the Government-mandated Covid-19 protocols to ensure the safety of all concerned. There will be mandatory thermal scans and hand sanitization at the entry points. Entry will be permitted only to visitors with at least two vaccine doses.

MSME manufacturers had been offered special subsidies to participate at IIJS Signature 2022 under the Procurement and Marketing Support Scheme, by the Ministry of MSME. Out of 195 MSME applicants, 94 were found eligible and granted financial assistance/subsidy of Rs. 1.4 crore by the Ministry of MSME to participate at IIJS Signature 2022.

Courtesy: Retail Jeweller India News