(PRESS RELEASE) MUMBAI — The Gem & Jewellery Export Promotion Council (GJEPC), in its endeavour to boost export business and to revive the market sentiments post Covid , inaugurated the first ever International Gem & Jewellery Show (e-IGJS) in the presence of Chief Guest Mr. Hardeep Singh Puri, Hon’ble Minister of State for Commerce and Industry, and Guest of Honour Mr. Suresh Kumar, Joint Secretary, Ministry of Commerce & Industry, along with Mr. Colin Shah, Chairman, GJEPC; Mr. Vipul Shah, Vice Chairman, GJEPC; Mr. Dilip Shah, Convener, International Exhibitions, GJEPC; Mr. Sabyasachi Ray, ED, GJEPC amongst others. The show will be held from 18th to 22nd January, 2021 virtually.
The e-IGJS is an exclusive export-oriented show, curated to meet the needs of International Buyers. 100 handpicked Gem & Jewellery manufacturers from India are showcasing the varied product range from Diamond Jewellery, Coloured stone Jewellery, Plain gold, silver, platinum to loose gemstones and diamonds to over 500 + buyers registered from 56 countries.
Addressing the trade at the inauguration ceremony of e-IGJS, Chief Guest Hardeep Singh Puri, Hon’ble Minister of State for Commerce and Industry said, “Today, India is one of the fastest growing global economies. An educated and young workforce, a large capital market, and business-friendly ecosystem are some of the key factors that encourage foreign investment and support it in India. India’s gems and jewelry sector has been contributing in a big way to the country’s foreign exchange earnings. Government has viewed this sector as a thrust area for export promotion, and therefore allows 100% foreign direct investment in this sector through the automatic route.
“COVID-19 has dramatically changed the economic landscape. e-IGJS and virtual initiatives of GJEPC are aligned to the mission of Digital India and Aatmanirbhar Bharat, the dream of our Prime Minister Shri Narendra Modi. e-IGJS, an International trade show for Gems & Jewellery is organised at an ideal time, as demand from all major markets such as the USA, China, Hong Kong, Middle East is now picking up. The rollout of vaccines against the dreaded virus has already started in India, and the world, and we expect things will be like normal very soon. However, the digital medium which we have witnessed like never before, is going to stay as a new way of doing business.”
“Today with USD35 billion exports of gem and jewelry annually, India is one of the largest exporters in the world, and caters to top markets like the US, Europe, Hong Kong, China, the Middle East, Russia, and other countries. The GJEPC has been instrumental in increasing our exports in the Gem and Jewellery sector, over the past few decades, and it has continued to do so, especially during the pandemic by organising various virtual initiatives, which has helped the industry to recover exports to the COVID levels in the last few months.
Suresh Kumar, joint secretary, Ministry of Commerce & Industry said, “The disruptions caused by COVID pandemic posed a serious challenge to the exporters of this sector. However, the industry remained resilient and has been gradually improving to move towards the path of recovery. I’m happy to note that the gems and jewelry exports from the country are back to pre COVID levels in the last quarter. We acknowledge the contribution of the members of the industry and the Export Promotion Council in emerging fairly unscathed to this unprecedented crisis.”
Colin Shah, chairman, GJEPC said, “I believe that India becoming ‘jeweller to the world’ is not just a goal but our destiny; better still, it’s a fait accompli that is slowly but surely being propelled by initiatives such as the e-IGJS virtual exhibition. The show is a testimony of India’s manufacturing prowess in Gems & Jewellery to the global audience.”
Vipul Shah, vice chairman, GJEPC said, “e-IGJS is open to international buyers only. The show is curated basis the product needs of each region/market. The manufacturers are handpicked capable of meeting high global standards. India has been supplying quality gems and jewelry over the years. The pandemic has forced us to remain physically distant but stay connected in unique ways – like this virtual show.”
Dilip Shah, convener, International Exhibition, GJEPC noted, “e-IGJS will showcase the best gems and jewelry by India’s select manufacturers. Over 500 international buyers from 50+ countries have confirmed their participation. With the help of top-grade technology, we have seamlessly integrated the physical aspects of the show on to a virtual platform.”
Over 500 International buyers are participating at the show from 56 Countries: Algeria, Argentina, Australia, Bahrain, Bangladesh, Belgium, Brasil, Canada, China, Colombia, Costa Rica, Ecuador, Egypt, Fiji, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, Jordan, Korea, Kuwait, Lebanon, Libya, Malaysia, Malta, Mauritius, Minsk(Belarus) , Nepal, New Zealand, Oman, Pakistan, Palestine, Panama, Peru, Qatar, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sri Lanka, Taiwan, Tanzania, Thailand, Tunisia, Turkey, UAE, UK, Ukraine, USA and Venezuela.