India International Jewellery Show (IIJS Premiere): Unveiling India’s Global Gem and Jewellery Vision
The 36th edition of the prestigious India International Jewellery Show (IIJS Premiere) commenced with great fanfare in Mumbai, reaffirming its status as a cornerstone event for the global gem and jewellery industry. This annual exhibition, a hallmark of excellence and innovation, brings together the industry’s finest, showcasing India’s immense potential and craftsmanship to an international audience. The grand inauguration marked a significant moment for the sector, highlighting strategic discussions and collaborative efforts aimed at propelling India to new heights in the global market.
Inauguration graced by Esteemed Dignitaries
The opening ceremony was a testament to the IIJS Premiere’s growing influence, drawing an impressive lineup of distinguished guests. Shri Ashish Shelar, the Hon’ble Minister of School Education, Sports & Youth Welfare, Government of Maharashtra, served as the Chief Guest, underscoring the government’s commitment to supporting this vital industry. He was joined by Guests of Honour Mr. Paul Rowley, Executive Vice President, Diamond Trading & Distribution, De Beers Group, and Mr. Evgeny Agureev, Director, United Selling Organisation, Alrosa. Their presence at the dais alongside key leadership from the Gem & Jewellery Export Promotion Council (GJEPC) – including Chairman Pramod Kumar Agrawal, Vice Chairman Colin Shah, Convener of National Exhibitions Mansukh Kothari, Co-Convener Kirit Bhansali, and Executive Director Sabyasachi Ray – symbolized a unified vision for the industry’s future. This gathering of prominent figures from government and leading global diamond enterprises underscored the show’s significance and the collaborative spirit driving the Indian gem and jewellery sector.
A Showcase of Unprecedented Scale and Global Reach
The 36th IIJS Premiere solidified its position as one of the world’s largest and most comprehensive jewellery trade shows. Breaking previous records, the exhibition boasted an impressive array of over 1,300 exhibitors, spread across more than 2,500 meticulously designed booths. Covering a sprawling area of 65,000 square meters, the show was a vibrant marketplace for innovation, design, and trade. This immense scale attracted a staggering 40,000 global buyers, hailing from over 800 cities and 80 countries, transforming Mumbai into the epicenter of the global jewellery trade. The sheer magnitude of participation underscored the IIJS Premiere’s critical role in fostering international business relationships and showcasing the depth and breadth of India’s manufacturing capabilities.
GJEPC’s Vision: Charting a Course for Exponential Growth
During his welcoming address, Pramod Kumar Agrawal, Chairman of the GJEPC, articulated an ambitious yet achievable vision for the Indian gem and jewellery sector. He declared a strategic target of achieving US$ 75 billion in exports and generating an additional 2 million jobs by the year 2025. This bold objective reflects the industry’s dynamism and its potential to be a significant contributor to India’s economic growth and employment generation. Agrawal emphasized that a core part of this strategy involves empowering small and medium-sized jewellery companies (SMEs). The Council aims to facilitate their entry into the competitive export market and enhance value addition across the supply chain, thereby fostering a more robust and diversified industry. The IIJS Premiere, he noted, stands as a flagship initiative among many undertaken by the GJEPC to realize these ambitious goals, serving as a vital platform for showcasing products, forging partnerships, and driving business expansion.
Catalytic Government Support and Forward-Thinking Policy Reforms
The success and growth aspirations of the Indian gem and jewellery industry are significantly bolstered by proactive government support and progressive policy reforms. Agrawal extended heartfelt gratitude to the Hon’ble Minister of Commerce & Industry, Shri Piyush Goyal, and his dedicated team for their unwavering backing. He specifically lauded the recent clarification regarding the non-applicability of Integrated Goods and Services Tax (IGST) to re-imported goods following international exhibitions. This crucial policy adjustment provides much-needed relief and operational clarity for exporters, streamlining processes and reducing the cost of doing business internationally. Such measures demonstrate the government’s understanding of the industry’s unique operational challenges and its commitment to creating a more business-friendly environment.
Pioneering Transparency with 8-Digit HS Code for Lab-Grown Diamonds
Another landmark initiative highlighted was the introduction of a separate 8-Digit Harmonized System (HS) Code for Lab-grown/Synthetic Diamonds. India has emerged as one of the early adopters of distinct HS Codes for both rough and polished synthetic diamonds, setting a new global standard for transparency and classification. This progressive step is pivotal for several reasons: it enhances consumer confidence by ensuring clear differentiation between natural and lab-grown diamonds, provides greater clarity for trade and customs procedures, and significantly improves the ease of doing business for all stakeholders. By proactively addressing market demands for precise categorization, India solidifies its position as a responsible and forward-thinking leader in the global diamond trade, fostering a fair and equitable marketplace for both natural and synthetic diamond sectors.
Navigating Global Dynamics: Seizing Opportunities Amidst Challenges
The global economic landscape presents both opportunities and challenges for the gem and jewellery industry. Agrawal urged the industry to remain agile and adaptable to the changing world scenario, highlighting specific avenues for growth. The imposition of a 10% duty by the US on Chinese imports of gem and jewellery creates a significant window of opportunity for India. As the world’s largest diamond jewellery market, the US is a crucial destination for Indian exports, and this trade dynamic allows India to strategically increase its market share by leveraging its competitive advantages in manufacturing and design. Indian manufacturers, known for their skill, efficiency, and adherence to quality, are well-positioned to fill this demand gap.
Leveraging Regional Trade Agreements for Enhanced Exports
Furthermore, the ongoing trade negotiations with the Eastern world, particularly the imminent signing of bilateral and multilateral trade agreements under the Regional Comprehensive Economic Partnership (RCEP), offer another substantial opportunity. RCEP, which accounts for approximately one-third of global trade, promises to unlock vast new markets and streamline trade flows, providing Indian jewellery exporters with preferential access to a wide array of economies. Tapping into this expansive economic bloc could significantly boost India’s export volumes and diversify its market base, reducing reliance on traditional markets and fostering sustainable growth.
Strengthening Export Hubs with Streamlined SEZ Policies
In this context of expanding global trade, Agrawal passionately advocated for the fast-tracked implementation of recent recommendations concerning Special Economic Zone (SEZ) policies. SEZs are critical engines for export-oriented industries, providing a conducive environment with special incentives and simplified regulations. Expediting these policy changes would immensely benefit major jewellery export hubs across India, including SEEPZ in Mumbai, Sitapura in Jaipur, Noida in Delhi, and Surat in Gujarat. These regions are vital for gem and jewellery manufacturing and exports, and enhanced SEZ policies would further boost their competitiveness, attract more investments, and streamline operations for thousands of exporters, reinforcing India’s position as a global manufacturing powerhouse.
Maharashtra’s Robust Commitment to the Gem & Jewellery Sector
The state of Maharashtra, a key economic powerhouse, has consistently demonstrated strong support for industry and enterprise, a commitment reiterated by Shri Ashish Shelar during his address. He emphasized that the state government has extended its full backing to the gem and jewellery business, recognizing its strategic importance to the economy. Shelar highlighted the significant initiatives being planned at the central level by the Prime Minister and the Commerce Minister, one of which is the ambitious Jewellery Park in Navi Mumbai. This project represents a pivotal step towards creating world-class infrastructure for the industry.
The Visionary Navi Mumbai Jewellery Park
The Minister further elaborated on the transformative potential of the Navi Mumbai Jewellery Park, projecting it to attract investments nearing Rs. 14,000 crore and generate an impressive 1 lakh new jobs. This monumental project is set to become a global benchmark, providing state-of-the-art facilities and a conducive ecosystem for jewellery manufacturing and trade. Shelar assured the gathering that Maharashtra would be at the forefront of providing the requisite infrastructure and benefits to Micro, Small, and Medium Enterprise (MSME) jewellery manufacturers and exporters who are looking to expand their investments in facilities and factories. This commitment underscores the state’s dedication to fostering a supportive environment for businesses of all sizes, ensuring the sustained growth and prosperity of the gem and jewellery sector within Maharashtra and across India.
Prioritizing Worker Welfare: GJEPC’s Social Responsibility
Beyond economic targets, the GJEPC has also demonstrated a strong commitment to the welfare of the workforce that underpins the industry. Shri Ashish Shelar extended his congratulations to the Council for their proactive investments in the well-being of gem and jewellery sector workers. He specifically lauded the provision of Mediclaim and subsidized health insurance plans, initiatives that significantly enhance the quality of life and provide crucial social security for thousands of artisans and workers. These welfare programs reflect the GJEPC’s understanding that a healthy and secure workforce is fundamental to the industry’s long-term success and sustainability, showcasing a holistic approach to industry development that balances economic objectives with social responsibility.
Global Perspectives: De Beers and Alrosa on India’s Pivotal Role
The IIJS Premiere served as a critical platform for global leaders to share their insights on the industry’s current state and future trajectory. Paul Rowley of De Beers Group congratulated the organizers and praised the Indian gem and jewellery exporters for their remarkable “energy, enthusiasm, enterprise, and entrepreneurial spirit” in the face of external and internal challenges. He contextualized the difficulties, asserting that current challenges are not intrinsic to the industry itself but rather a result of broader macro-economic forces impacting global trade. Rowley unequivocally declared India as “the pulse and the heartbeat of the global gem and jewellery trade,” underscoring its indispensable role in the entire supply chain, from cutting and polishing to manufacturing and retail.
De Beers’ Strategic Investments and India’s Demographic Dividend
Highlighting India’s demographic advantage, Rowley noted that within a few years, two-thirds of the world’s millennial population would reside in India, representing an enormous growth opportunity for diamond consumption. In response to these dynamics, he announced significant investments by De Beers: an additional US$ 10 million allocated to short-term marketing, supplementing their existing budget of US$ 175 million, aimed at stimulating immediate demand. Furthermore, De Beers is committing a substantial US$ 10 billion over the coming decade towards long-term projects focused on developing new sources of diamonds. Rowley reaffirmed De Beers’ commitment to working collectively and collaboratively with the GJEPC to capitalize on emerging opportunities and significantly enhance global diamond demand, showcasing a shared vision for robust industry growth.
Alrosa’s Call for Responsibility and Long-Term Vision
Echoing a similar sentiment, Evgeny Agureev of Alrosa emphasized the crucial importance of the IIJS during what he described as a “serious and difficult situation” for the industry. He acknowledged that miners were actively adjusting rough diamond supply to the market in response to current realities, while external factors such as the US-China trade war were undoubtedly impacting the entire sector. However, Agureev offered a message of reassurance, reminding the gathering that “this was not the first crisis the industry had faced.” He expressed confidence that these challenges could be overcome if all industry players acted responsibly, maintaining a long-term, broader perspective on market dynamics and collaborative solutions. His remarks underscored the resilience of the diamond industry and the necessity of strategic planning and unity to navigate complex global economic shifts.
A Collaborative Path Forward for Indian Jewellery
The IIJS Premiere concluded with Mansukh Kothari proposing the Vote of Thanks, bringing together the various threads of discussion and commitments. The overarching message was one of collaboration, resilience, and strategic vision. The show reinforced India’s indispensable role as a global leader in the gem and jewellery sector, highlighting its manufacturing prowess, innovative spirit, and commitment to ethical practices. Despite global economic headwinds and trade complexities, the collective resolve of the GJEPC, government bodies, and international industry giants like De Beers and Alrosa demonstrated a clear path forward, focusing on market expansion, policy reform, technological adoption, and worker welfare.
Conclusion: Charting a Resilient Future for Indian Jewellery
The 36th India International Jewellery Show (IIJS Premiere) transcended its role as merely an exhibition, emerging as a powerful platform for strategic dialogue, partnership building, and showcasing the profound resilience of the Indian gem and jewellery industry. From the ambitious export targets set by the GJEPC to the progressive policy reforms introduced by the government, and from the unwavering support of state initiatives like the Navi Mumbai Jewellery Park to the insightful perspectives of global diamond giants, the event painted a picture of an industry poised for significant growth. Despite external challenges, the collaborative spirit, the focus on innovation, and the commitment to a long-term vision underline India’s crucial role as the “heartbeat” of the global gem and jewellery trade. With sustained efforts in skill development, technological advancement, market diversification, and worker welfare, the Indian jewellery sector is not just navigating the present but actively shaping a vibrant, robust, and prosperous future for itself on the world stage.
New Source: gjepc.org