The first major trade show of the year, the 2023 IIJS Signature in India, has been hailed as a success by the organisers.
The 15th edition of the IIJS Signature was attended by 20,000 people with 1,300 exhibitors occupying more than 2,5000 stalls across six halls at the Bombay Exhibition Center in Mumbai.
The fair began on 5 January and concluded on 9 January and while it fell well short of the anticipated 32,000 visitors, the event still attracted international participants from more than 60 countries.
Despite the miscalculation event organizers Gem & Jewelery Export Promotion Council (GJEPC) has confirmed that the total value of orders booked exceeded Rs. 30,000 crore ($AU5.22 billion).
Beyond the focus on business, another highlight to draw the attention of many on-lookers was the unveiling of a Lord Ganesha golden pendant weighing 1.3 kilograms and featuring 36,000 diamonds.
GJEPC chairman Vipul Shah said the fair had many positive indicators for the year ahead.
“IIJS Signature got an encouraging response from domestic gemstone and jewelery business entrepreneurs as well as international buyers despite several global headwinds. International buyers showed keenness to source gemstones and jewelery from India after the recent successful free trade agreements with the UAE and Australia,” Shah said.
He continued: “Genuine serious buyers added to the momentum of business generation even as enthusiastic Indian jewelers presented their best-ever creations of the past two years. Overall, the sentiment is quite bullish.
On 29 December the Australia-India Economic Cooperation and Trade Agreement came into effect, providing preferential access to Indian gemstones and jewelery exports for Australian retailers.
Australia imports plain gold jewellery, studded jewellery, and cut and polished diamonds from India. Australia exports precious metals, including gold and silver, to India.
More reading
COVID surge postpones another jewelery show
COVID claims its first jewelry show cancellation for 2022
IIJS announces dates and venue for 2022 show
Writing the future: Indian ingenuity
