Organises country's first India Jewellery Shopping Festival to give an impetus to the jewellery industry

Bengaluru, 18th July 2023: All India Gem and Jewellery Domestic Council (GJC), the apex trade body that unites jewellery manufacturers, wholesalers, retailers, and exporters, today announced the first of its kind India Jewellery Shopping Festival (IJSF) that will be held in 300 cities across the country from 12th October to 17th November, 2023. The nationwide shopping festival is expected to witness participation from over 5000 of jewellery retailers, and distributors and will help boost the overall business sentiment across the industry. IDT Gemmological Laboratories Worldwide is the Title sponsor and Divine Solitaires is the Powered by sponsor for this event.

The festival will offer benefits to both the B2B and the B2C segments. Business owners can be a part of the festival by paying an enrolment fee and choosing from one of the several subscription plans that are available to them. The scheme for the B2B segment will run from 1st June to 31st October.

Mr. Saiyam Mehra, Chairman, Gem and Jewellery Council (GJC), said, "IJSF holds immense potential for the entire jewellery fraternity, with notable interest already expressed by major industry players. This event enables jewelers to attract customers and boost their sales, while consumers can explore and reserve truly distinctive pieces for weddings and other significant events. The Gem and Jewellery Council (GJC) anticipates the participation of the complete value chain in this program, which promises significant revenue opportunities. Furthermore, this event serves as a platform to promote the industry and incentivize cons umers. GJC encourages the involvement reputable jewellers with established business models, promoting professionalism and adherence to the best business practices."

Mr. Dinesh Jain, GJC Director & IJSF Convenor, said, "India's Gem & Jewellery exports reached USD 39.45 billion in 2021-22, marking an impressive 54.68% surge from the previous year. Among the approximately 200 countries worldwide, only 10% engage in jewellery manufacturing, highlighting immense potential within the industry. The launch of IJSF aims to foster jewellery tourism in India, leveraging its globally recognized intricate designs and exceptional craftsmanship. We aim to position India as a premier destination for jewellery enthusiasts and establish it as a global hub. Collaborating with the Tourism

Ministry, we intend to promote jewellery tourism by offering enticing tour packages. Additionally, we are in talks with the Government to facilitate import duty and GST refunds for departing tourists. Our vision for IJSF is to emulate the success of Dubai Shopping Festival, which garners substantial attention from global business leaders and consumers.

IJSF will have attractive offers and give them a chance to win upto 40kg gold, jewellery worth Rs.3 cr and 100 gold coins studded with Divine Solitaire diamonds. Besides these mega prizes, 3000 kg worth of limited-edition Amrit Mahotsav silver coins dedicated to India's 75 years of Independence will be distributed as assured gifts to customers on every purchase Rs.25000/-.

This fully digitised initiative is expected to attract 2.4 million end consumers and generate sales worth INR 12000 crores. The expected contribution from the Jewellery value chain is over INR 100 crores and INR 3,000 crore from foreign currency.

Mr. Manoj Jha, Joint Convenor, said, "We want the entire industry as well as the customers to benefit from this event. We are implementing various initiatives to enhance event participation. One of the exciting offers is a grand prize of 1kg of gold, along with regular prizes of 25 grams of gold. We have several such compelling offers for the customers which will make jewellery buying during the festival beneficial. The coupon tracking and transfer is fully digitised to ensure complete transparency in the process. We have also partnered with EY who will monitor the entire process."

For more information on the Terms and Conditions of IJSF please visit www.ijsfindia.org

About GJC: All India Gem and Jewellery Domestic Council is a national trade body established with the objective to address the industry, its functioning, and its cause with a 360° approach to promote and progress its growth, while protecting the industry's interests. GJC, since the last 18 years, has been serving as a bridge between the Government and the trade as well as undertaking various initiatives on behalf of and for the industry.

For further information, please feel free to contact All India Gem and Jewellery Domestic Council (GJC): Mr. Ninad Mundhe- Manager; Mobile: 8433956622; Email: ninad@gjc.org.in