Concluded IIJS Signature 2022 refilled inventory well!

The Dome witnessed about 15 New Launches

Wedding, Lightweight & Designer jewelery trended! 

Update 1: 

Key Highlight: 

1: Piyush Goyal: “India showcases its gems & jewellery prowess through IIJS Signature.” “The GJEPC has channelled its entrepreneurial spirit to convert this crisis into an opportunity!” 

2: Colin Shah: “Enthused by the performance of 2021-22, the Government. has set a target for us of over USD 50 billion for the year 2022-23.” 

3: Parshottam Rupala: “Indian gem & jewellery is a 100% ‘Make in India’ sector.”

4: Darshana Jardosh: “Physical shows such as IIJS Signature increases competitiveness amongst exhibiting manufacturers.” 

The Show: Virtually, when whole of the world had halted in the wake of pandemic Covid-19, every business & commerce, trade & industry, including the gem-n-jewellery (GJ) industry & trade! Despite disruptions due to Covid-19, GJEPC has channelled its entrepreneurial spirit to convert a crisis into an opportunity.  

During the lockdown, GJEPC organized virtual trade events like Buyer-Seller Meets, e-International Gems & Jewellery Show, India Global Connect, Webinars etc. These initiatives have helped the industry to bounce back quickly and gave a push both to domestic sales & exports.

GJEPC is following all the Government-mandated Covid-19 protocols to ensure the safety of all concerned at the Show 2022. Entry was permitted only to visitors with at least two vaccine doses. The IIJS Signature is an important jewellery show of the calendar, which caters to the sourcing needs of Gem & Jewellery retailers and wholesalers from across the world.

The show witnessed over 15000 visitors from 632 cities, 400 international buyers and delegations visited accommodated 950+ exhibitors and 1450 booths in the dome of 14th edition of IIJS Signature 2022. 

Exhibitors have displayed products & visitors, buyers refilled their inventory well! The Dome witnessed about 15 New Launches, where wedding, lightweight & designer jewelery trended!  

Piyush Goyal said, “IIJS Signature has truly become the signature event of the Indian jewellery sector that showcases its prowess to the entire world. The event has become an institution by itself and caters to the sourcing needs of jewellery buyers from across the world.  

The Indian jewellery sector is a prime example of the potential of Make in India. I hope in the years to come, we will have the world looking up to India for sourcing jewellery with our hallmarking standards and assaying that offers guarantee of quality and will distinguish Indian jewellery from all others.”  

“IIJS Signature is the aggregator of the entire industry. We have diamond jewellery, plain gold, silver, coloured stones, polki jewellery and machinery pavilion, and we expect 15000 visitors from all over India and world. This is the indicator of positive sentiment in the industry and with continued govt. support, there is no reason why we cannot be the gems and jewellery capital of the whole world” said Colin Shah.

The Show Inaugural: Chief Guest Hon’ble Commerce and Industry Minister Piyush Goyal through a video conference inaugurated the 14th edition of IIJS Signature 2022 along with Parshottam Rupala, Hon’ble Union Minister of Fisheries, Animal Husbandry & Dairying Government of India; Darshana Jardosh, Hon’ble Minister of State for Railways & Textiles; Gopal Shetty, Member of Parliament; Vipul Bansal, Joint Secretary , Department of Commerce, Government of India; Colin Shah, Chairman, GJEPC; Vipul Shah, Vice Chairman, GJEPC; Shailesh Sangani, Convener, National Exhibitions, GJEPC; and Sabyasachi Ray, ED, GJEPC along with others.  

Piyush Goyal virtually inaugurated the grand event in the presence of the august gathering and acknowledged the gem and jewellery industry for its efforts to generate export revenues despite the challenging times.  

Piyush Goyal stated, “The gem & jewellery sector is crucial for the economy of our country. It is commendable that the industry has been tirelessly working towards achieving the Prime Minister’s goal of USD 41 billion in exports that has been earmarked for the sector. The industry’s contribution towards the ‘Make In India’ initiative is successful and aligned with the vision of our Prime Minister. The government of India will continue to support and strengthen GJEPC’s vision in driving this sector to new heights.”   

Goyal further added, “The GJEPC has channelled its entrepreneurial spirit to convert this crisis into an opportunity. Over the last two years GJEPC had organised virtual trade events, Buyers Seller Meets, India Global Connect, webinars, and many more. These initiatives have helped the industry to bounce back quickly and gave a push both to domestic sales and exports.”

Colin Shah said, “As an industry, we have turned adversities into opportunities. It is evident from the export numbers of the financial year 2021-22 that in April – Jan 2022, total exports witnessed a growth of 12.28% in comparison to 2019, the pre-pandemic year. We got the confidence and energy from the Hon’ble Prime Minister Shri Narendra Modi himself, who set a goal of USD 400 billion for the export sector for the financial year 2021-22. Enthused by the performance of 2021-22, the Govt. has set a target for us of over USD 50 billion for the year 2022-23.”

“We thank our Hon’ble Commerce & Industry Minister Piyush Goyal for his continued and timely support in policy reforms during the pandemic which has helped to revive Gem & Jewellery exports. 

The e-commerce policy is a long- desired stand and it will further the Prime Minister’s vision of making every district export-ready.”  

Parshottam Rupala said, “With the country facing a crisis, it is extremely critical to have events like these to keep the hopes high and motivation going. 

In reality, this diamond industry is a prime example of our Hon’ble Prime Minister Shri Narendra Modi’s ‘Make in India’ as all the raw material required by the industry is imported and around 94% of the finished products are exported. So we can say that it is a 100% ‘Make in India’ sector.”  

Darshana Jardosh commented, “Until now no finance minister has spoken about diamonds in the budget, but this was the first time any Finance Minister spoke about diamonds and a cut in duty. This shows the importance that the Govt. places on this labour-intensive industry. Physical shows such as IIJS Signature increases competitiveness amongst exhibiting manufacturers. While the issue of equalisation levy of 2% is still pending among other demands, the Govt. will examine it soon.” 

Government & Industry at support:

At the Show: MSME manufacturers had been offered special subsidies to participate at IIJS Signature 2022 under the Procurement and Marketing Support Scheme, by Ministry of MSME. Out of 195 MSME applicants, 94 were found eligible and granted financial assistance/subsidy of Rs. 1.4 Crore by the Ministry of MSME to participate at IIJS Signature 2022.

Target Support: Prime Minister Narendra Modi, India wants to make its G&J sector self-reliant i.e. Aatmanirbhar & the Government has declared the G&J sector as a focus area for export promotion.  

Government has declared the G&J sector as a focus area for export promotion. Encouraged the G&J Industry to aim to be a Global Champion by taking up bigger & bolder targets-in domestic production as well as overseas sales. Gold and Diamond trade contributes about 7% to our GDP and employs over 50 Lakh persons.  

The Gems & Jewellery sector is expected to achieve export target of $40 Billion this year- 2021-2022. The sector is expected to register growth of 6.5% over the pre-Covid levels. The G&J sector is a prime example of the potential of Make In India and Brand India.  

Budgetary Support: The Budget 2022-2023 has paved the road for the sector to grow & expand India’s footprint in Global G&J trade, 1: Reduction in import duty on cut & polished diamonds from 7% to 5%, 2: Extension of Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs up to March 2023. (Over 90% of units in G&J sector are MSMEs).  

3: Acceptance of personal surety bonds in place of bank guarantee for import of gold, 4: Replacement of SEZ Act with a new SEZ regime, 5: Simplified regulatory framework for e-commerce in the next few months will facilitate G&J exports through e-commerce, ensuring that small retailers are able to ship their products overseas.  

GJEPC, with the support of the Ministry of Commerce & Industry, has been setting up Common Facility Centres to improve Productivity & Quality of G&J products. CFCs are operational at Amreli, Palanpur, Junagadh, Visnagar, Coimbatore, Kolkata, Hyderabad and Rajkot. This will go a long way to help realize the goal of Make in India for the world,” 

Business Trend:

Overall the business sentiment was good since the last year and that had thrived with a breezy festive season and a zesty wedding season blossomed the gem & jewellery industry & trade at the domestic market. On the other hand exports India of gem & jewellery also flourished at the holiday buying 2021! Even at the time five players were ready to launch their jewellery collections at the IIJS Signature 2022.

Zaverat, showcased their jewellery for the first time in IIJS Signature. Such first time players were very happy with the footfalls, inquiries and business deals! Rushit Kansara of Zaverat said, “We are very happy that visitors have appreciated our crafts. We got good business and it is higher than over expectations!”  

Machinery exhibitors were happy with open entries! That allowed any machinery visitor to visit the Machinery Section even without registering with IIJS- Signature with registered IIJS Signature visitors! 

Exclusive arrangement for Silver Jewellery as like as a Silver Pavilion remained very effective! Virtually every silver exhibitors was happy and satisfied with the arrangement!  Equally, silver jewellery buyers also found happy! This Silver Section made sourcing easy and time saving! Very minuscule of jewellery exhibitors does not like such silver jewellery rows because they want to avoid a direct comparison of their products with the stall next, direct comparison of their offered quality-purity & crafts! Such players said, “This arrangement is good for those who wishes to source silver yet, not good for us. We are facing direct competition!”

Business Sentiment:

Business & trading sentiment had improved & rocked up from the day the Covid-19 restrictions was announced ease! The last quarter of the CY 2021 remained very busy in trade-n-commerce, buy-n-sell! There was a strong expectation that the IIJS Signature will be the great roof to refill inventory for the H1, 2022. 

Virtually every exhibitors had smell the business in wedding collection, Temple, Antique and Nakashi collection, Lightweight Jewellery, Couture & fashion jewellery in Silver. Over 15 vibrant players had launched new collections and range in the dome!  

New Launch:

R M Precious Jewellery (I) Pvt Ltd launched, Wedding & Antique collections, Shagun Collection, Kid Collection also launched in the dome. Ciyaza introduced Coza with fresh range of CnC jewellery, Manyata Jewellers introduced & showcased Antique collection & Temple Collection.  

R R Jewellers introduced their jewellery brand, Delicut; and under the Delicut brand they launched, Delcy Collection by targeting Millennials to GenZ. They re-introduced their demanded Urja Collection-the kinetic jewellery range.

Vinati Jewellers PL launched, Deep Nakashi Collection in the IIJS Signature 2022. At the occasion Arvind Nahar said, “We got good visitors. Every visitor was ready to refill their inventory with the breezy crafts! Buyers’ prefered our offered collection and accordingly we sold the collection 100%! Buyer demanded more stories in Nakashi!     

R K Bracelets launched new varieties in bracelet. At the arena they showcased new enamelling & itching bracelet, while J P Gold launched Jhoomki Collection & Bridal Collection at the Signature 2022. J P Exports unveiled Filigree Collection and a notable designer Manish Bhindi Jewels launched Jhoomki Collection in the arena of Signature.  

IIJS Signature 2022 also witnessed for the first time in India, Pousa-New Jewellery Outlook and that launched by Yug of Tanvi Gold. Emerald launched 3 collections in the presence of invitees & visitors. They launched, 1: Rozanne – Lightweight Modern Collection, 2: Bandhan – Bridal Collection & 3: Bhagyam – Mangalsutra Collection.  

Outlook 2022:

With the IIJS Signature 2022 and opportunity to refill inventories, exhibitors and visitors are happy. Overall jewellers are very optimistic for the days ahead. Now, jewellery market is on growing spree on the back of ongoing wedding days in April-May and big buying festival Akshay Tritiya. This will thrive & keep jewellery market busy during the whole of the H1, 2022 and H2 will be again of festive season!  

Overall it is learned in the Signature dome that the whole the CY 2022 is most likely to grow around 20%.  

Concluding Statement:

Acknowledging the support offered by all stakeholders, Shailesh Sangani, Convener, National Exhibitions, GJEPC stated, “IIJS Signature 2022 was possible with wholehearted support from everyone – including exhibitors, buyers, the Central government and Maharashtra government. Everybody has played an important role in successfully putting up a show of this stature.”