(PRESS RELEASE) JAIPUR — The Gem & Jewellery Export Promotion Council (GJEPC) successfully kickstarted the IGJS 2022 in India’s colored gemstone capital, Jaipur. It is the first ever gem and jewelry physical event hosted exclusively for international buyers in India to increase exports and to exemplify India’s strong hold on the G&J industry. The show was graced with the presence of Shri R. Arulanandan, director, department of commerce, Govt. of India; Shri Colin Shah, chairman, GJEPC; Shri Dilip Shah, convener, International National Exhibitions, GJEPC; Shri Nirmal Bardiya, Regional chairman, Rajasthan, GJEPC; Shri Vijay Kedia, convener, Colored Gemstones panel, GJEPC; and Shri Sabyasachi Ray, executive director, GJEPC.
India plays a prominent role in the global gem and jewelry industry with exports of nearly USD 40 billion annually. Top markets are the USA accounting for 37% of India’s G&J exports, Hong Kong (24%), UAE (14.5%), Belgium (5%) and Israel (4%).
Being the world leader in cut & polished diamonds, colored gemstones capital of the world, and the fastest growing gold jewelry exporter, India caters to every sourcing need of the global market. IGJS is the first initiative of the council to have a stand-alone show catering to all product segments of gem & jewelry such as Color Gemstones, Loose Diamonds, Plain Gold Jewellery, Diamond Studded jewelry, Gemstone studded jewelry & Silver Jewellery.
The show caters to a wide-ranging requirement of 600+ buyers visiting from 48 countries representing regions of USA, UK, Middle East, CIS, Ocenia, Africa, Asia & Latin America.
Shri Arulanandan, director, department of commerce, Govt. of India, said, “I’m glad to be part of the first edition of IGJS in Jaipur. The Government and Ministry’s role has moved from controllers to facilitators. GJEPC is the main link between the export community and the Govt.; we address the issues of the trade together. GJEPC is one of the most organized and efficient Councils and the gem and jewelry sector is dear to us. It employs 5 million people, and contributes 10% of the country’s total exports.”
Shri Colin Shah, chairman, GJEPC said, “IGJS Jaipur is a classic example of the Government’s campaign to ‘Make in India for the world’, and the show will boost our efforts to reach USD 75 billion in exports in the next few years. The mystique of Jaipur will make this international show a success. Nothing beats the physical meet-and-greet interaction of a show. I thank the Ministry of Commerce for ironing out all issues. We also thank PM Narendra Modi for his bold vision such as signing FTAs with important markets such as UAE and Australia, which will help exports to grow. I think we will see a USD 5 billion boost in exports this year itself as a result of these treaties. We are also launching IGJS in New York in August followed by IGJS Dubai in November and one in Jaipur in February 2023. IGJS will turn out to be the show for the future.”
In his vote of thanks, Shri Dilip Shah, Convener, International National Exhibitions, GJEPC, said, “We are glad to bring IGJS to Jaipur where the Council had initially planned to organize it. There has been tremendous demand from international markets for gems & jewelry post pandemic which is even reflected in India’s last year’s exports which accounted for around nearly USD 40 billion. My Special thanks to all our international coordinators who have played a significant role in getting buyers from all parts of the world. My special thanks to Nepal Gem & Jewellery Association; Dubai Gold & Jewellery Group (DGJG); Bangladesh Jewellery Association (BAJUS); MIGJA; and Sri Lanka Gem & Jewellery Association for their support and bring buyer delegations from these respective countries.”
India has a renowned history of gems and jewelry which is now imbibed in its culture. This curated gem & jewelry show brings together leading jewellery manufacturers from India, exclusively for select international buyers.
In the year 2021-22, the gem and jewelry sector recorded an overall gross export of US$ 39.15 billion (Rs.291771.48 crores), showing a growth of 54.13% in dollar terms (55.75% in Rs terms) as compared to US$ 25.40 billion (Rs. 187333.68 crores) in FY 2020-21.
IGJS will witness 200+ Indian manufacturers and 600+ international buyers across segments over the next 3 days. The buyer profile consists of wholesalers, retailers, and importers from all sectors of the worldwide jewelry industry. Design houses, jewelry manufacturers sourcing diamonds and gemstones, and independent retailers are also expected to visit the show.