India International Jewelry Show 2022 likely to result in revenue generation of Rs50,000 crore

12 Aug 2022 , 08:31 AM

The flagship IIJS Premiere, according to the Gem and Jewellery Export Promotion Council, is anticipated to generate commerce worth Rs50,000 crore in the next 4-6 months. This year’s IIJS took place from August 4 to 8.

“We predict that the 5-day IIJS Premiere starting on August 4 will generate revenue of Rs50,000 crore over the next 4-6 months. It has cheered up not just its participants but also suggested that the holiday and wedding season will stimulate jewelry sales at the retail level”, according to GJEPC Chairman Colin Shah.

There is no question that this is going to be a record-breaking Diwali given the tremendous buying that has occurred at IIJS Premiere despite the recent duty increase on gold, the speaker continued.

In addition to displaying gold and gold CZ (Cubic Zirconia) studded jewelry, loose stones, silver jewelry, artifacts and gift items, labs and educational resources, and technology, the event had 1,790 exhibitors.

Around 50,000 people attended the event, including 1,500 foreign visitors from more than 60 nations, including the USA, Canada, the UK, Hong Kong, the Middle East, Europe, Bangladesh, Nepal, Russia, Thailand, and Egypt, according to Shailesh Sangani, GJEPC Convener, National Exhibitions.