The India International Jewellery Show (IIJS) Premiere 2024, organised by the Gem & Jewellery Export Promotion Council (GJEPC), concluded with record-breaking business worth $12 billion generated over six days.
As one of the world’s largest business-to-business (B2B) gem and jewellery exhibitions, this year’s event took place in Mumbai, attracting a broad spectrum of participants from both domestic and international markets.
Event Overview
Celebrating its 40th edition, IIJS Premiere 2024 was held from 8 to 12 August at the JIO World Convention Centre and from 9 to 13 August at the Bombay Exhibition Centre. The exhibition spanned 135,000 square metres, featuring more than 3,600 stalls and 2,100 exhibitors. Over 50,000 buyers attended the show, including 15 international delegations from countries such as Cambodia, Japan, and the United Kingdom.
Alongside IIJS Premiere 2024, the IGJME Premiere, an event showcasing machinery and allied technology, took place from 9 to 13 August. The IGJME saw participation from over 220 companies and 320 stalls, including an Italy Pavilion, highlighting international involvement in this sector.
Key Ministerial Announcements
On 10 August, India’s Minister of Commerce & Industry, Mr. Piyush Goyal, visited the show at the Bombay Exhibition Centre. During his visit, Mr. Goyal made several important policy announcements, including the reintroduction of the Diamond Imprest Licence. He addressed industry concerns regarding recent changes in duty rates for gold, silver, and platinum.
Mr. Goyal stated, “India’s domestic market is resilient and growing fast to compensate for the loss in exports due to global recession. I urge gem & jewellery exporters to be positive.” He also noted the government’s active engagement with the G7 and European Union on trade matters, emphasising that India was negotiating “from a position of strength.”
Additionally, Mr. Goyal highlighted the potential for establishing a diamond centre in Mumbai or Surat similar to Antwerp and discussed ongoing talks with De Beers and the Kimberley Process to trace diamond origins. He noted, “We are jointly working towards this,” but added that there is “no technical mechanism and no protocol in this regard.”
Global Participation and Industry Impact
With over 2,000 international buyers and 15 delegations from more than 13 countries, the event underscored its status as a premier platform for the global gem and jewellery industry.
Mr. Vipul Shah, Chairman of GJEPC, remarked, “IIJS Premiere 2024 was a tremendous success, generating over USD 12 billion in business for our exhibitors. The show featured a dazzling array of products that highlighted the brilliance in designs and clearly reflected the shift towards catering to millennials and Gen Z.” He added, “The overwhelming response from buyers and the enthusiasm of exhibitors reaffirm our commitment to making IIJS the premier platform for the gem and jewellery industry.”
International participants echoed this sentiment. Paul Rowley, Executive Vice President, Diamond Trading, De Beers Group, stated, “India is pivotal in the global diamond industry and Indians appreciate the true value of natural diamonds.” He further noted that De Beers’ new diamond origin campaign would focus on India.
Focus on Sustainability and Technology
This year’s edition of IIJS showcased a growing focus on sustainability and the use of technology in the jewellery industry. Mr. Nirav Bhansali, Convener of National Exhibitions, GJEPC, spoke about the ‘Brilliant Bharat’ theme, which celebrated India’s traditions while promoting sustainable practices. “We’ve leveraged technology to enhance the exhibitor experience and
