Jewellery show brings the legacy of Indian jewellery to Dubai

The Gem and Jewellery Export Promotion Council (GJEPC) has successfully kickstarted the three-day International Gem and Jewellery (IGJS) 2021 in Dubai. It is the first-ever gem and jewellery physical event hosted internationally, since the onset of pandemic.

Pavan Kapoor, Ambassador of India to UAE, inaugurated the show.

Chandu Siroya, vice-chairman at Dubai Gold and Jewellery Group; Colin Shah, chairman, GJEPC; Dilip Shah, convener, International Exhibitions, GJEPC; and Sabyasachi Ray, executive director, GJEPC, also attended the opening ceremony.

IGJS Dubai is supported by Dubai Gold and Jewellery Group, and co-sponsored by International Gemological Institute Pvt. Ltd. (IGI).

Pavan Kapoor, Ambassador of India to UAE, said the India contributes 27 per cent to global gem and jewellery industry.

“We should try and create more opportunities to increase this share going forward. This is one of the fastest growing sectors in the Indian economy with an annual growth rate of approximately 16 per cent,” he said.

He said the Indian government has permitted 100 per cent FDI through the automatic route, and has made hallmarking of jewellery and artifacts mandatory – this has been a major step in improving the credibility of our products.

“Although, the Covid-19 pandemic has severely affected our gem and jewellery exports to UAE, we are very pleased to see stable signs of recovery, with the easing of travel restrictions, arrival of tourism and much awaited Expo 2020 Dubai taking place,” he said.

India plays a prominent role in the global gem and jewellery industry with exports of $40 billion annually. Major export markets being the USA, Middle East, Hong Kong, and China; India offers a range of world-class products. It includes cut and polished diamonds, diamond studded jewellery, plain gold jewellery, silver jewellery, coloured gemstone [precious and semi-precious] jewellery, etc.

With 185 gem and jewellery clusters across India, the industry is one of the biggest with 4.8 million people employed. It has developed an infrastructure for producing G&J products in SEZs, and is well versed in using both traditional & advanced tech/methods — Artificial Intelligence.

“India has always been the key player at Middle East region contributing around 40 per cent of jewellery exports from India,” Colin Shah said.

“Dubai is the jewellery gateway for the most strategic jewellery markets such as the Gulf countries, Russia, Eastern Europe, North and East Africa, India, Central Asia, South and East Asia. IGJS is a great opportunity for the retailers, manufacturers and stakeholders to reconnect at the start of the festive season,” he added.

Dilip Shah said the IGJS Dubai show has registered 550+ International buyers.

“We have buyers from across the world, including Russia, Saudi Arabia, Bahrain, Bangladesh, Iran, Lebanon, Uzbekistan, UAE, USA, Nepal, Sri Lanka, UK, Pakistan, Egypt, France, Italy, Kuwait and Oman, among others. The show will follow all covid-related precautionary measures prescribed by the UAE government,” he said.

The exhibition to witness 70+ Indian manufacturers and 550+ international buyers across segments over the next three days.

The buyer profile consists of wholesalers, retailers, and importers from all sectors of the worldwide jewellery industry. Design houses, jewellery manufacturers sourcing diamonds and gemstones, and independent retailers are also expected to visit the show.

— business@khaleejtimes.com