The Gem and Jewellery Export Promotion Council (GJEPC), organiser of the 33rd India International Jewellery Show (IIJS), signed three significant deals on the show’s opening day on August 4 at the Bombay Exhibition Centre in Mumbai.
The three memoranda of understanding (MoU), inked with the De Beers Group of Companies, Guangdong Gems and Jade Exchange (GDGJE) and Guangzhou Diamond Exchange (GZDE), are aimed at further enhancing GJEPC’s standing as a respected and globally acclaimed gems and jewellery export council.
Hailed as one of the largest gemstone and jewellery trade shows in Asia, the five-day B2B event is viewed as an effective platform to explore vast business opportunities in the Indian gemstone and jewellery industry.
Coinciding with GJEPC’s 50th anniversary, this year’s IIJS is presenting nearly 1,200 exhibitors and more than 2,000 booths in 50,000 square feet of exhibition space. More than 35,000 visitors from over 800 Indian cities and towns and 80 countries around the world are expected to grace the event.
IIJS showcases the best of India’s expertise and craftsmanship in diamond and coloured gemstone jewellery in gold and silver, the organiser said. Machinery and equipment companies will showcase their goods from August 5 to 8 at Hotel Lalit Mumbai with over 120 companies and booths.
According to the organiser, more than 230 delegations from Nepal, the United Arab Emirates, Saudi Arabia, Vietnam, United Kingdom, China, Sri Lanka, Russia, Egypt, Malaysia and Korea are attending IIJS 2016.
Praveenshankar Pandya, chairman of GJEPC, Russell Mehta, vice chairman of GJEPC, Manoj Dwivedi, secretary of India’s Ministry of Commerce, Bruce Cleaver, CEO of De Beers, Sabyasachi Ray of GJEPC, and Saunak Parikh, convener of the national exhibitions sub-committee of GJEPC, unveiled the commemorative IIJS special catalogue during the show’s opening session.
Pandya commented, “The gems and jewellery sector contributes significantly to India in terms of exports, employment and key economic indicators. This year, we introduced the Hall of Innovation to promote excellence in design and innovation, and a separate section dedicated to the micro, small and medium enterprises, which are the backbone of the ‘Make in India’ initiative. At IIJS 2016, we are hoping to increase business transactions by at least 15 percent from IIJS 2015.”
The MoU with De Beers entails undertaking promotional activities to drive consumer demand for diamond jewellery in India. The marketing campaign will be carried out during the key selling season, and the funding will be agreed by both GJEPC and De Beers.
Commenting on the agreement, Cleaver said: “I have said before that we must be unrelenting in driving consumer demand so we are very excited about this partnership with GJEPC, a globally acclaimed export trade body. India is already one of the world’s most important markets for consumer sales of diamond jewellery and we believe it has an exciting opportunity for further growth.”