The IIJS Virtual 2.0 trade show, organised by India’s export promotion arm the Gem & Jewellery Export Promotion Council (GJEPC), has opened and will run until January 12, 2021, with expectations that it will exceed orders achieved in the first event.
The show has dedicated five halls for Traditional Gold Jewellery; Gold Jewellery (Mass); Diamond/Colour Gemstone Jewellery; Couture/Bridal Jewellery; Loose colour Gemstone/Silver jewellery / Machinery & Allied.
There are 250 exhibitors and 8,000+ registered buyers, including international buyers from the US, UK, UAE, Singapore, Bangladesh, Nepal, Hong Kong, Belgium, Sri Lanka, Thailand, etc. More than 15,000 meetings are scheduled to be held over the five days of the show.
Addressing the trade during the inaugural ceremony, Colin Shah, Chairman, GJEPC, said, “The first edition of IIJS Virtual saw a record 10,000+ visitors and we reported a business turnover of around Rs 1000 Crore. This surely has set a benchmark for us and our expectations from the second edition are high and we expect it to surpass the business generated in the first edition.”
Colin Shah added, “The New Year has brought in good news on many fronts – several vaccines are making their way across the globe and have already started saving lives. On the business front, demand for gems and jewellery is picking up in all major export markets.
“Jewellery was the highest selling luxury product in China in 2020 and the Thanksgiving Day spending in the US rose by nearly 22% year-over-year to $5.1 billion, hitting a new record, — which goes to prove that jewellery is strongly linked to the emotional connect of buyers.
“It’s good to see that India’s exports of gems and jewellery back to pre-Covid levels in November and December. I am sure that a couple of months down the line, we will see more stable economic activity across the world which will further boost the gem and jewellery sector’s growth.”