Jewellers at the 3rd India Gems and Jewellery Show project 20% increase in jewellery sales this season

by Shrutee K

National, April , 2023: All India Gems and Jewellery Domestic Council (GJC) inaugurated the 3rd edition of the India Gem and Jewellery Show (GJS) at the Bombay Exhibition Centre (Nesco) in Mumbai today. Mr Rahul Narvekar, Speaker, Maharashtra State Assembly inaugurated the show which will continue till 10th April 2023. GJC chairman Mr Saiyam Mehra and Vice Chairman Mr Rajesh Rokde were among many dignitaries who were present on the occasion.

The Chief Guest Mr Rahul Narvekar launched an industry-dedicated magazine ‘GJC Connect’ on the occasion. The promotion for the show was made with the hashtag #HamaraApnaShow, the exhibition was a showcase of the latest jewellery designs from the world’s most acclaimed jewellers. The exhibition is a celebration of the art and craft of jewellery making, featuring masterpieces that incorporate a range of precious metals, gemstones, and other materials.

Rahul Narvekar, Chief Guest, Speaker, Maharashtra State Assembly, said, “GJS is being recognized today as a landmark show, displaying talent, art productivity and values of ethical trading to the world at large. I must confess that my association with this event goes, of course without saying, with a sense of gratitude to this industry for their contribution to the nation building and the growth of the economy of this country, being the pillar of the economy of this country. But with the same breath, I must admit that I am standing here on the dias, I am presiding the state assembly as a speaker and representing the Colaba assembly constituency because of this industry. My constituency houses the largest bullion market in the country, in terms of both rates and variety and design.”

Saiyam Mehra, Chairman of All India Gem and Jewellery Domestic Council and Convenor of GJS said, “Our past chairmen had seen a dream of a purely domestic show on gems and jewellery. A domestic gem and jewellery show was planned for over one-and-a-half years with efforts seen from all our staff, committee members and others directly or indirectly associated with this industry. Our first show was also the first show of Jio World Convention Centre with participation from 1300 stalls and more than 15,000 visitors.”

Mr Rajesh Rokde, Vice Chairman, GJC said, “Changes are universal and bound to happen over a period of time. We have seen changes in Maharashtra politics with Mr Rahul Narvekar as the youngest Speaker. Similarly, the industry has witnessed a change with Mr Saiyam Mehra as the youngest chairman of All India Gems and Jewellery Domestic Council. This show is being organised at a time when gold prices have jumped to a record high, and it lacks direction for the future. I can firmly say that gold’s real beauty is its price. Consumers will not get attracted towards gold if its price does not go up. So, there is no need to get demoralised. It is better to think in a positive direction and consider that its price hike is good for the industry. The jewellery industry’s future is the real gold price rise.”

Meanwhile, GJC has tried to bring in innovations with the new version of the ‘Lucky Laxmi’ and connect with youths. The jewellery industry is also solving the unemployment problem in a big way.

GJC is planning to organise two GJS shows every year, with the first being in April and the second in September. Both events will be organised before the peak demand season. The April show will come ahead of Akshaya Tritiya and the September show before Diwali. Both shows will be the trendsetters wherein visitors and exhibitors will come and make the maximum of jewellery items displayed there. One can take advantage of the new design, new colour and the new lightweight jewellery of rose and bridal collections. Diamonds and bridal antiques are going to be the most common and seasonal phenomena.

By participating in GJS, jewellery enthusiasts may expect an increase in sales by at least 20 per cent for that respective season. So, the objective of this event is to create an environment wherein visitors and exhibitors can make long-term participation in the GJS shows.

About GJC: All India Gem and Jewellery Domestic Council (GJC) represents lakhs of trade constituents comprising manufacturers, wholesalers, retailers, distributors, laboratories, gemologists, designers and allied services to the domestic gems & jewellery industry. The Council functions with the objective to address the industry, its functioning, and its cause with a 360° approach to promote and progress its growth, while protecting the industry's interests. GJC, since the last 15 years, has been serving as a bridge between the government and the trade by undertaking various initiatives on behalf of and for the industry.