Mumbai: The 32nd edition India International Jewellery Show (IIJS) ended here on 10th August with more response than the exhibitors and organizers had expected. Huge debacle in gold prices is said to have inspired strong traffic at the show. Now domestic jewelers expect enhanced sales during the upcoming festive and wedding season. The show, supposed to be Asia’s largest is being organized by India’s Gem & Jewellery Export Promotion Council (GJEPC) in Mumbai since last 32 years.
Executive director of India’s Gem and Jewellery Export Promotion Council (GJEPC) said, “Every exhibitor had low expectations from the day 1 of the show because of slow the retail market conditions. However, consumers started buying jewellery again thinking that gold prices may have bottomed out. This approach has changed every exhibitor’s mood at the show. This is a positive sign for the season.”
“Footfalls during the 5 days at IIJS increased about 17% from last year and value of orders generated at the show increased 20% to an estimated USD 940 million (INR 60 billion), as compared to USD 785 million (INR 50 billion) at IIJS 2014,” added Mr.Ray.
On the other hand, diamond business at the show was slow and exhibitors expressed concern about the global diamond market. Rajesh Lakhani, director at Kiran Gems said, “Although the US demand is stable, Far East has remained slow. Domestic Indian demand has improved slightly as a consequence of better retail activity.”
