Signature IIJS & IGJME Opened in Mumbai

Mumbai: The Gems & Jewellery Export Promotion Council (GJEPC) presented the trade with two wonderful opportunities to commence the Year’s buying season with the 9th edition of Signature IIJS and the 3rd edition of India Gem & Jewellery Machinery Expo (IGJME). Chief Guest Mr. Subhash Desai, Hon. Minister of Industries, Maharashtra, unveiled Signature IIJS 2016 in the presence of GJEPC Chairman Shri Praveenshankar Pandya, Guest of Honour Shri Andrey Zharkov (President, Alrosa, Russia Federation), Guest of Honour Shri Manoj Dwivedi (Jt. Secretary, Union Ministry of Commerce, Government of India), Shri Russell Mehta (Vice Chairman, GJEPC), Shri Saunak Parikh (Convener – Exhibitions – National, GJEPC) and Shri Sabyasachi Ray (Executive Director, GJEPC).

SIGNATURE IIJS unveiled the most coveted premium jewellery and jump-started the new buying season from 5th – 8th February, 2016 at Bombay Exhibition Centre. This year, the 3rd edition of India Gem & Jewellery Machinery Expo (IGJME) is introduced in Mumbai in conjunction with SIGNATURE IIJS on the same dates and venue.

Addressing the inaugural session, GJEPC Chairman Praveenshankar Pandya said, “India’s predominant leadership position in diamonds is known world over. Business expertise and craftsmanship in diamonds and jewellery is inherent to the trade, passed through generations, that makes it unique. With 3 million work-force employed directly, industry accounts for 13% to the merchandise exports. This is a true testimony of make in India. In spite of sluggish global demand, and rough diamond prices affecting the profitability, there is fair amount of optimism for the coming season. GJEPC has urged the government with recommendations in the policy to enhance ease of doing business, with special turnover tax regime for the trade, interest subvention scheme & MIES, sale through SNZ, VAT and state SEZ policy. GJEPC has been proposing for a convention centre in Mumbai, which is the need of the hour. The Council also aims to integrate the SME manufacturers of gold and diamonds under one roof in state-of-the-art Jewellery Park. We are committed to continue the market leadership both in diamonds and jewellery.”

Mr. Subhash Desai, Hon. Minister of Industries, Maharashtra Government, said, “The gems and jewellery trade is a jewel in India’s crown and initiatives such as Bharat Diamond Bourse, the world’s largest diamond business hub, put Maharashtra in the forefront in the global gems & jewellery business. The new Government’s approach is different and progressive and we are serious about stimulating ease of business. We are engaging bureaucracy to reduce clearances/ permits, end Inspector Raj and harassment. Our strength is our skilled manpower and we are taking steps to enhance skill development and employability. We are working closely with bodies such as GJEPC to revise SEZ policies; create an Industrial Park soon and an international convention centre in the State.”

Mr. Manoj Dwivedi, Joint Secretary, Union Ministry for Commerce, said, “India’s gems and jewellery trade is dynamic, innovative and hardworking and that’s how it has achieved 70-80% of the world leadership in key business segments. The two events SIGNATURE IIJS and IGJME cover the entire gamut of the industry. The Government of India is very keen to promote the gems and jewellery sector because of the twin benefits of employment generation and enhancing export earnings. We hope Maharashtra State provides a good eco-system to the gems and jewellery businesses so as to help realize the potential.”

Mr. Andrey Zharkov, President, Alrosa (Russia Federation), said, “It’s a great honour to jumpstart the annual buying season with SIGNATURE IIJS and IGJME 2016 in Mumbai, the world’s capital of the diamond business. Alrosa’s supply of diamonds to India has been growing steadily since 2010. Last year we did business of USD 1.5 bn in India, which is 45% of the total sales. The growth in our share of business was achieved in spite of the overall slowdown in demand. The number of long term buyers has increased to 12. The Special Notified Zone, initiated by GJEPC, has been a welcome move and will help in augmenting bilateral trade especially helping small-to-medium sized enterprises. Alrosa has been collaborating with GJEPC for various programmes including exchange of information, Kimberley Process, natural & synthetic stones, etc., and we look forward to working with the new GJEPC team. One of the main challenges is stimulating demand for diamonds with a generic emotional and symbolic consumer campaign to target Gen-Next buyers. The diamond trade is looking at several initiatives starting this year.”

Thanking all the sponsors, partners and vendors, Mr. Saunak Parikh, Convener, Exhibitions – National, GJEPC, said, “This is the first time that we are conducting two shows SIGNATURE IIJS and IGJME 2016 simultaneously in the beginning of the year. SIGNATURE IIJS caters to the sourcing needs of India’s leading jewellery retailers and provides them a platform to view future styles and trends and replenish their inventory. IGJME showcases the latest product innovation and technological advancements to boost the quality and quantity of production requirements. Trade can get access to the entire spectrum of the business, new ideas, cutting edge technology, innovation and networking. This helps identify various opportunities of growth and channelize energies to stimulate growth.”

Networking Event for Participants:

It was a day of hectic business activity for all exhibitors and participants of Signature IIJS 2016, so a Networking Event  was organised by the GJEPC on sprawling grounds of a five-star hotel in Mumbai which was attended by hosts of dignitaries including Chairman of the GJEPC Mr. Praveenshankar Pandya along with his team.

The event enthralled  the guests with variety of entertainment and cultural programmes and enfreshed them for the remaining days of the the business activity.