The Gem and Jewellery Export Promotion Council on Thursday said its flagship IIJS (India International Jewellery Show) Premiere is expected to generate business worth Rs 50,000 crore in the coming 4-6 months. IIJS was held from August 4-8 this year.
“We estimate that Rs 50,000 crore worth of business will be generated in the next 4-6 months from the 5-day IIJS Premiere held from August 4. It has brought cheer to not just its participants, but also indicated that the festive and wedding season will drive jewellery sales at the retail end,” GJEPC chairman Colin Shah said in a statement.
Despite the recent duty hike on gold, market sentiments remained strong towards the yellow metal and looking at the phenomenal buying that has taken place at IIJS Premiere, there’s no doubt that this is going to be a bumper Diwali, he added.
The show witnessed 1,790 exhibitors showcasing gold and gold CZ (Cubic Zirconia) studded jewellery, diamond, gemstone and other studded jewellery, loose stones, silver jewellery, artefacts and gifting items, laboratories and education, and machinery, among others.
The show had around 50,000 visitors, including 1,500 international visitors from more than 60 countries, including the USA, Canada, the UK, Hong Kong, Middle East, Europe, Bangladesh, Nepal, Russia, Thailand and Egypt, said Shailesh Sangani, GJEPC Convener, National Exhibitions.