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GJEPC’s IIJS Premiere 2023 Generates Highest-Ever Business of Over Rs. 70,000 Crore: An Unprecedented Success

50,000+ visitors across 2 venues of Jio World Convention Centre & Bombay Exhibition Centre with 2100 foreign visitors.

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(PRESS RELEASE) NATIONAL — 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 & jewelry 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, Muscat, 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 an unparalleled international stature. More than 25 hotels were booked across Mumbai and had 10,000 room nights for the exhibitors and visitors! The event also had an Italian Pavilion at the machinery section and had exhibitors from 7 countries.

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

Shri Sunil Barthwal, commerce secretary, Department of Commerce, engaged with international delegates and GJEPC board members at IIJS Premiere. Shri Barthwal said, “IIJS is one of the largest exhibitions of gems and jewelry in the world, and we can take pride in what we are doing. The gem & jewelry sector is a very important one for the Government because it is highly labor-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 jewelry. So I think this is one of the most versatile industries and it’s very important for us. As Government, we’re looking at the whole value chain of gems & jewelry, right from mining to the final selling. In particular, we’re looking to develop the studded diamond jewelry segment which is at the higher value end.”

Mr. Vipul Shah, chairman, GJEPC, said, “”IIJS Premiere 2023 has achieved unprecedented success, surpassing all previous records and exceeding our expectations. It has singlehandedly 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 ₹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.”

Shah further added, “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.”

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Mr. Mike Hankey, consul general, Consulate General of USA, said, “I congratulate those in the gem and jewelry 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.”

Mr. 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 jewelry business improves the lives of all stakeholders.”

On this momentous occasion, 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 jewelry as things come to normal, not only in India, but also across the world. The new jewelry 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 jewelry 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 jewelry 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.”

Mr. Nirav Bhansali, convener of National Exhibitions at GJEPC, expressed, “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 1100 cities across India, marking this as 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 tons of vital oxygen and create 220 acres of lush green cover, nurturing biodiversity.”

Pritam @ IIJS Celebrations – Legends of Gem & Jewellery
IIJS Premiere felicitated the luminaries of the Gems & 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. Post which IIJS witnessed a night of celebration and joy along with renowned singer Pritam who graced the industry with his mesmerizing melodies.

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Jewellers for Hope
GJEPC has also helped raise funds for 13 NGOs over the last 7 years, positively impacting millions of lives. GJEPC hosted the 8th edition of its esteemed charity dinner, ‘Jewellers for Hope,’ at a glittering event, and the proceeds of the charity dinner were donated to Relief Projects India, a leading NGO focussed on women-child centric issues and education. The event was attended by industry leaders and philanthropists where leading actor Vicky Kaushal personally attended this event on behalf of Relief Projects India and spoke about the organisation and the impact it has created in India. Relief Projects India is a dedicated non-profit Trust committed to making a positive impact on the lives of the less fortunate through education, health, and awareness initiatives. The NGO’s primary focus lies in addressing critical issues such as female infanticide, foeticide, boy-child preference, and the challenges faced by women and children in rural villages.

Vicky Kaushal said, “I would like to extend many thanks and gratitude to Jewellers for Hope and GJEPC for recognising and supporting a cause which is so close to my heart – Relief Projects India (RPI). I am extremely proud of the work that RPI has put in over the years for their education programme – Mountain View School, which is dedicated on providing quality education and a safe environment to all underprivileged kids in the area. I hope and wish that you all continue your support towards all such noble causes in the years to come as well.”

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.

40-Under-40
The IIJS Premiere 2023 witnessed a defining moment as GJEPC 40 Under 40 initiative celebrated exceptional talent and innovation within the industry. This recognition ceremony, moderated by the illustrious Manisha Gupta, Commodities Editor at CNBC TV 18, was graced by influential luminaries as mentors – Mr. Sachin Jain of Forevermark, Ms. Vaishali Banerjee representing PGI, Mr. Colin Shah from Kama Jewelry, and Mr. Bobby Kothari of Jewelex. Also present at the event was Mr. Vipul Shah, Chairman, GJEPC; Mr. Kirit Bhansali, Vice Chairman, GJEPC; Nirav Bhansali, Convener, National Exhibitions, GJEPC; Mr. Sabyasachi Ray, ED, GJEPC. These industry titans, synonymous with brilliance and achievement, lent their aura to this prestigious occasion, igniting inspiration in the emerging leaders of tomorrow.

More than an accolade, the GJEPC 40 Under 40 initiative symbolizes a movement toward innovative synergy, a collaborative symphony of exceptional minds. Chairman Shah elaborated, “The 40 Under 40 initiative is not just about recognizing individual achievements; it is about fostering a culture of innovation, collaboration, and collective growth.” The luminary winners, a beacon of potential and transformation, are poised to shape the future trajectory of the industry, poised to kindle positive change.

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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IIJS Premiere 2023 continues to impress with its remarkable statistics and impressive offerings, bringing together the world’s gems and jewellery industry in a dazzling extravaganza that showcases the very best in craftsmanship, innovation, and global connections.

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