Mumbai: The domestic market is clearly seeing a huge rush for gold and diamond jewellery. The India International Jewellery show which concluded in Mumbai on Tuesday generated business worth Rs 70,000 crore, the highest ever.
The 39th edition of IIJS Premiere 2023, organized by the Gem and Jewellery Export Promotion Council (GJEPC), is considered the second largest gem and jewellery fair in the world drawing 50,000 plus visitors at two venues in Mumbai.
Vipul Shah, chairman, GJEPC, said, “”IIJS Premiere 2023 has achieved unprecedented success, surpassing all previous records and exceeding our expectations. It has single handedly reversed market sentiments and kickstarted the business cycle into high gear, perfectly timed ahead of the festive and wedding seasons..”
Jewellers who participated said domestic demand was positive with demand for gold jewellery the highest, followed by natural diamond jewellery. Ashok Gajera, owner of Laxmi Diamonds Private Ltd, said, “Indians’ tryst with the yellow metal remains as large economies go through long cycles of economic and geopolitical change. Loose diamonds, neither mined nor lab-grown, did not garner much interest,” said Gajera.
