TRADE FAIRS – Packed stands at IIJS Signature augur for steady demand in Indian wedding season, Chinese New Year and Valentine’s Day

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By David Brough

MUMBAI – Crammed booths at the January 4-7, 2024, IIJS Signature show, signalled resilient prospects for the coming Indian wedding season, Chinese New Year and Valentine’s Day, jewellers said.

IIJS Signature, taking place jointly in the Nesco and Jio complex venues, is the first major international jewellery trade show of 2024, and is seen as an important barometer for the health of the domestic Indian jewellery market.

Organisers expected more than 30,000 visitors from 800 Indian cities and 60 countries.

TRADE FAIRS – Packed stands at IIJS Signature augur for steady demand in Indian wedding season, Chinese New Year and Valentine’s Day

Inauguration of IIJS Signature 2024

Jewellers said the wedding season in India so far had been steady to slow, impacted by the high gold price.

Indian tastes for wedding jewellery are typically pieces in 22-carat gold, set with diamonds weighing less than one carat with higher colours and clarities.

At the inauguration ceremony for IIJS Signature at the Nesco complex on January 5, Paul Rowley, Executive Vice-President of De Beers, in a keynote speech, expressed cautious optimism for the outlook for global diamond demand after the downturn in 2023.

He said the industry needed to unite in order to tackle the challenges in implementation of the G7 ban on Russian-origin diamond imports.

“It is vital that the industry speaks as one,” he said.

“Even at the bottom of the cycle the diamond remains one of the most cherished objects on earth,” he added.

“Let’s move with a spirit of optimism and collaboration.”

At the inauguration of the show at the Jio complex on January 4, 2024, Trade Minister Piyush Goyal spoke of India’s potential as a host location for weddings, which he said would support the domestic jewellery, textiles and hospitality industries.

Indian weddings presently absorb some 60 percent of total Indian jewellery production, jewellers estimated.

Trade Minister Goyal also spoke of India’s potential to export jewellery design as well as product.

TRADE FAIRS – Packed stands at IIJS Signature augur for steady demand in Indian wedding season, Chinese New Year and Valentine’s Day

Indian Trade Minister Piyush Goyal touring IIJS Signature 2024 at the Jio complex