GJ Town India

The show accommodates 1,500+ exhibitors occupying 3,000+ stalls   Union Minister Piyush Goyal inaugurated the New Year’s first and largest-ever India International Jewellery Trade Show-IIJS Signature; Gem & Jewellery Trade, organised by the country’s apex trade body, the Gem & Jewellery Export Promotion Council (GJEPC).    The 16th edition of GJEPC's IIJS Signature will witness 30,000+ visitors (including international buyers) from 800 Indian cities and 60 countries. The show boasts of 1,500+ exhibitors occupying 3,000+ stalls across a sprawling 1.25 lakh sq. mt. of exhibition area.    For the first time ever, the New Year’s first top-of-the-line design centric jewellery trade show along with the India Gem & Jewellery Machinery Expo (IGJME) is being held at two venues in Mumbai: JIO World Convention Centre, BKC (4-7 January) & Bombay Exhibition Centre, NESCO, Goregaon (5-8 January). This expansion aims to offer exhibitors and visitors ...

CPD exports of India fall to 28.27% 9mYoY    The overall gross Exports of Cut & Polished Diamonds (CPD) during the April-December (9month) 2023 totaled at US$ 11926.1 million (Rs. 98638.48 crores) is showing a decline of 28.27% (-25.32% Rs. term) as compared to US$ 16625.45 million (Rs. 132075.49 crores) for the same period of previous year.    The overall gross Imports of Cut & Polished diamonds during the April-December 2023 reached to US$ 1495.33 million (Rs. 12390.84 crores) is showing a growth of 42.95% (48.74% Rs. term) as compared to US$ 1046.06 million (Rs. 8330.81 crores) for the same period of previous year. The overall gross Imports during April-December 2023, of Cut & Polished diamonds in DTA at US$ 318.87 million (Rs. 2637.24 crores) is showing a Decline of -14.25 (-11.13% Rs. term) as compared to US$ 371.84(Rs 2967.4crores) for the same period of previous year.    The overall gross Imports during April-December 2023, of Cut ...

The new board of JVC appointed for 2024-2026   The Jewelers Vigilance Committee (JVC) announces the appointment of its new board officers for 2024-2026.  Rebecca Foerster, Chairman- Board of Directors: Rebecca Foerster, President of Hearts on Fire North America, has been elected Chairman of the Board of Directors of the Jewelers Vigilance Committee. Rebecca joined Hearts on Fire in May of 2022, after her three-year role as President of Alrosa North America ended with the closure of the US office that April.    Hearts on Fire is one of the largest diamond jewelry brands, is owned by Chow Tai Fook, and is known as “The World’s Most Perfectly Cut Diamond.” Rebecca is the former Senior Vice President of Strategic Planning and Marketing for Leo Schachter Diamonds. Before joining Leo Schachter in 2014, she oversaw Diamond Sales and Marketing as the Vice President for the Rio Tinto US Representative Office and was Vice President of Marketing at Frederick Goldman.  ...

The special interactive session from DGFT at the IGJS 2024   Key insights from the exclusive interactive session featuring Santosh Kumar Sarangi, DG, Director General of Foreign Trade (DGFT) at the Ministry of Commerce & Industry, Government of India. Here is the top ten key takeaways!   1: India stands as one of the largest buyers of gold globally, showcasing considerable buying power that can potentially influence the streamlining of gold prices and availability.   2: Recognising the fragmented nature of gold demand in India, spanning from small to large jewellers and varying from kilograms to tons, there's a pressing need for streamlining.  3: India currently holds the position of the 4th largest exporter. With immense potential, the aim should be to become the foremost exporter globally.    4: Drawing a parallel with Switzerland, we need champions in India investing in creative designs catering to Western tastes.    5: Collaboration...

To position India as top supplier, design creator & value-adding hub for gold jewellery    India's gold jewellery ecosystem stands strong in infrastructure, policies, exports, retail, design, and innovation, and is poised for a significant role on the global stage. Santosh Kumar Sarangi, Director General, DGFT, Union Ministry of Commerce & Industry, Govt. of India urged GJEPC to popularize Indian jewellery exports through e-commerce; and to position India as top supplier, design creator & value-adding hub for gold jewellery.   These were the key takeaway from the India Gold & Jewellery Summit, the two-day (23-24 January) organised by Gem & Jewellery Export Promotion Council (GJEPC) at Bharat Mandapam in the Capital. The Summit aims to enhance and expand the role of gold in the economic growth of the country.  World Gold Council was the lead partner for the Summit.    Marking their presence at the inaugural were Santosh Kumar Sarangi, Dir...

  Indispensable role of e-commerce in shaping GJ future   In a groundbreaking initiative, the Gem and Jewelry Export Promotion Council's (GJEPC) MSME department, in collaboration with eBay and DHL, orchestrated a triumphant seminar at the vibrant Zaveri Bazaar, Mumbai. The event marked a significant milestone as it unfolded the vast e-commerce prospects within the gems and jewelry (GJ) sector, illuminating its pivotal role in the industry's trajectory. The Regional Director of Rajasthan, GJEPC, Nitin Khandelwal, spearheaded the seminar by providing a comprehensive overview of e-commerce and its indispensable role in shaping the future of the gem and jewelry trade. eBay, a global e-commerce giant, took the stage to deliver a thorough presentation, underscoring its role as a pivotal platform connecting businesses with a staggering presence in over 190 countries.  The presentation highlighted eBay's commitment to facilitating businesses through dedicated account manageme...

IGI certifies Shree Ram Lalla jewelry   The historical inauguration of Ram Mandir temple was an auspicious event in Ram Janmabhoomi on 22nd January, 2024. The grand inauguration of the Ram Mandir temple was a momentous occasion that left everyone spellbound.   The exquisite gold & diamond jewellery collection worn by Ram Lalla, the child deity of Lord Ram, stole the show with its intricate and stunning designed by HSJ, who holds a 130-year-old legacy of designing special collections & certified by International Gemological Institute (IGI), a global third-party authentication body. Shree Ram Lalla's jewellery collection boasts a beautiful Mukut evam pankhi made of pure yellow gold, decorated with diamonds, emeralds, and rubies. The peacock, our national bird, signifies royalty, while the emerald in the center represents wisdom & exudes luxury and grandeur & weighs around 2kg.    The Tilak, a symbol of protection for Lord Ram, features a dazzling 3...

  BDB complex transformed into a Sea of devotion and festivity   Bharat Diamond Bourse, the World's Largest Diamond Trading Centre, witnessed unprecedented celebrations on the occasion of the Pran Pratistha of Bhagwan Shree Ram. The entire BDB complex was transformed into a Sea of Devotion and Festivity, unlike anything ever seen before.   Electrifying at BDB: From the morning itself, the air at BDB crackled with excitement. Instead of rushing to their Offices, Diamond Merchants and staff thronged the BDB grounds, eager to participate in the grand procession. Led by the BDB Security's in-house Band and resounding chants of Jai Shree Ram, the procession snaked its way through the complex, infusing every corner with a palpable energy.   A Moment of National Rejoicing: The Pran Pratistha of Bhagwan Shree Ram held immense significance, not just for the BDB's primarily Jain and Hindu community, but for the entire nation. Members expressed their heartfelt gratitude ...

Amid headwinds Platinum deficit of 353 koz in 2024! Recently, World Platinum Investment Council (WPIC), published Platinum Quarterly data set, which examines activity in the third quarter of 2023. It also includes a revised estimate for full-year 2023 and a first forecast for 2024. Independent analysis is provided by our research partner, Metals Focus.      The Foreword to the report provides an overview of supply and demand developments in the platinum market, as well as our view on issues and trends relevant to considering exposure to platinum as an investment asset. Key takeaways from the report are; 1: Platinum deficit of 353 koz forecast for 2024, with this year’s estimated deficit to reach a record 1,071 koz. 2: Both mining and recycling supply expected to be well below pre-Covid levels in 2023 and 2024 3: Automotive demand continues to strengthen, up 14% this year, with a further 2% increase expected next year 2023 will see the highest industrial demand on record, with ...

  Rural economy drives gold market evolution   India’s Gold Market Reform and growth encouragingly, the rural economy itself is changing. In 1993, rural areas contributed less than 30% to manufacturing output. By 2011, the time of the last census, that percentage had increased to 51.3%. A continuation of this trend could deliver meaningful change, particularly in conjunction with recent government policies.   Online marketplaces and improving infrastructure are changing consumer aspirations and logistical capabilities. This could dilute the sharp division in consuming and investing habits between rural and urban consumers in the coming years. Taken together, they could engender a period of sustained recovery for the rural economy, driving GDP growth and consumer spending across India.   There could also be considerable consequences for India’s gold industry, as rural households still account for a majority of India’s gold demand. Sustained growth in rural incom...

Poonam Soni crafts beyond trends   Poonam Soni's brand strides into 2024 with a focus on sustainability and vibrant expressions. Intriguingly inspired by George Orwell's Animal Farm, their Animal Farm Revived collection reflects quirky pendants.  Additionally, a pioneering move toward sustainability features man-made diamonds, tinted in pale pink and blue hues, reshaping the future of jewelry crafting and setting new trends.   The brand’s anticipated multi-colored jewelry with fusion motifs promises to be the highlight, blending classic diamonds and gold with vibrant shades. In 2024, jewelry isn't merely an accessory but a manifestation of evolving tastes and sustainable practices, embracing opulence while reinventing traditions.   Beyond trends, a remarkable shift emerges in reviving dormant jewelry pieces. Metamorphosis takes center stage, where unused jewels are skillfully remodelled, introducing novel elements without melting, presenting a cost-effective wa...