The 15^th edition of the India International Jewellery Show (IIJS) Signature from January 5 to 9, 2023 was its biggest yet, with 800 foreign visitors from 600 companies hailing from 50 countries joining some 24,000 visitors from 10,000 local companies to view the latest collections of Indian jewellers.

Organised by the Gem & Jewellery Export Promotion Council (GJEPC), the fair also welcomed delegations from the US, Canada, the UK, Malaysia, Sri Lanka, Bangladesh, Nepal, UAE, Bahrain, Russia and, for the first time, Saudi Arabia. Running concurrently was the India Gem & Jewellery Machinery Expo (IGJME), which had over 90 companies taking up more than 115 booths.

This year, IIJS Signature ran for five days, instead of the customary four, to enable visitors to cover the entire show.

Chief guest Anupriya Patel, India’s Minister of State for Commerce and Industry, noted that recently signed free trade agreements with the UAE and Australia, along with ongoing discussions with Canada, the EU and the UK, are poised to boost Indian exports of gems and jewellery, which already stand at US$40 billion.

GJEPC Chairman Vipul Shah said, “India's overall gem and jewellery exports this year saw a growth of 8.26 per cent as compared to last year. The last quarter of this fiscal year is very crucial as it demands a strong growth to achieve this year’s target of US$45.7 billion.” He pointed out that exports to the UAE had grown 25 per cent after the Comprehensive Economic Partnership Agreement between the two countries came into effect. Similar growth is expected for exports to Australia, he remarked. 

According to Shah, GJEPC’s primary request to the government in the 2023-24 budget is the reduction of import duties on gold, silver and platinum to 4 per cent. The council also seeks permission for diamond companies to sell rough diamonds in special notified zones (SNZ) through Safe Harbour rules. “At least 20 per cent of the rough diamonds traded in the world will shift to India’s SNZs due to the level playing field given to foreign mining companies,” he explained.

Other GJEPC’s recommendations include reintroducing the Diamond Imprest Licence to enable diamond exporters to cope with the beneficiation policies undertaken by major mining countries in Africa, abolishing import duties on lab-grown diamond (LGD) seeds to boost the country’s LGD manufacturing sector and introducing policies on jewellery repair to transform India into the repair hub of the world.

New features at IIJS Signature 2023 included an LGD section, an Innov8 Hub zone that featured Artificial Intelligence and New Age App Developers, and an Innov8 LaunchPad product launch area, among others.

GJEPC is now readying for IIJS Tritiya in Bangalore from March 17 to 20, which is expected to have over 800 exhibitors occupying 1,500 booths.