Gem & Jewellery industry trade show IIJS Premiere 2023, underway here till August 8, is expected to generate business worth more than ₹60,000 crore, the Gem & Jewellery Export Promotion Council (GJEPC), the organisers of the show said on Thursday.
“IIJS symbolises the confidence and underlying strength of the Indian gem and jewellery industry. It’s a testament to India’s radiant reputation as a global powerhouse in the world of gems and jewellery,” Vipul Shah, Chairman, GJEPC, said in a statement.
“The buzzing aisles on day one of IIJS Premiere 2023 is an indication of the fervent enthusiasm and interest among exhibitors and visitors alike. We anticipate business worth ₹60,000 crore to be generated at this event, and ₹1 lakh crore for all three IIJS shows in 2023,” he added.
Theorganisers said the show has received 42,000 pre-registrations from across India. More than 2,000 visitors from over 65 countries, including the U.S., U.K., U.A.E., Australia, Canada, New Zealand, Fiji, Saudi Arabia, Qatar, Iran, Muscat, Italy, Bangladesh, Bahrain, Kuwait, Germany, Turkey, Singapore, Thailand, Vietnam, Cambodia, Sri Lanka, are scheduled to attend.
Mike Hankey, Consul General, Consulate General of USA, who spoke at the inaugural event said, “Like the rest of the world, the United States recognises the staggering potential of the Indian economy to bring prosperity to all of its citizens and to world partners.”
“The United States understands the considerable importance of the diamond manufacturing industry to India and its immense contribution to employment that I have seen personally,” he said.
Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group said, “India was already one of the world’s top markets, but it has also been the fastest growing major market this year. The number of middleclass households is expected to grow 30 million in the next decade alone, something like almost 15 times the population of Botswana today. It’s clear that the landscape in India will be a perfect platform for growth.”
“Two of the most important trends, we see in De Beers are around provenance and lab grown diamonds. In matters of provenance, we are seeing a growing interest about where diamonds come from, and more importantly, perhaps the impact they have on the people and places on their journey to the consumer,” he said.
