Home / Business and Economy / India's Gem and Jewelry Expo Targets $8 Billion in Business
India's Gem and Jewelry Expo Targets $8 Billion in Business
28 Jul
Summary
- India International Jewellery Show to be the biggest ever with 2,100 companies and 3,600 stalls
- Over 50,000 visitors from 1,300 Indian cities and 80 countries expected to attend
- GJEPC plans to host the world's largest machinery and tech event as early as next year
The gem and jewelry industry in India is gearing up for the upcoming India International Jewellery Show (IIJS) in Mumbai, which is expected to be the biggest edition yet. The event, which begins on Wednesday, will feature 2,100 companies and 3,600 stalls, as the industry aims to generate a business of $8 billion.
The IIJS event comes on the back of the recent India-UK free trade agreement, which is expected to open up a business opportunity of $7 billion. Kirit Bhansali, Chairman of the Gem and Jewellery Export Promotion Council (GJEPC), says that more than 50,000 visitors from 1,300 Indian cities and 80 countries are expected to attend the show this year.
Looking ahead, the GJEPC is also planning to explore the $5 billion market opportunity in Saudi Arabia and the Gulf Cooperation Council (GCC) region. The council is gearing up to host the SAJEX B2B show in Saudi Arabia to attract top retailers from the GCC, Northern Africa, the Middle East, the CIS region, Brazil, and Europe. Additionally, the GJEPC is planning to take delegations to Saudi Arabia and bring Middle Eastern designers to India for collaboration and product development.
