Page 29 - Bullion World Issue 6 October 2021

Show

Highlights

The five-day show was attended by
several dignitaries like Ms. Anupriya
Patel, Hon’ble Minister of State for
Commerce & Industry, Ministry of
Commerce & Industry (through video
conference), who hailed the industry
for being the world leader in diamond
cutting and manufacturing, and one
of the largest exporters of gems and
jewellery.

Mr. Murugesh Nirani, Hon’ble Minister
of Large and Medium Industries, Govt.
of Karnataka; Mr. Ramana Reddy,
Additional Chief Secretary, Department
of Commerce & Industries, Govt. of
Colin Shah, Chairman, GJEPC, said, The embellishments were in the form Karnataka; Mr. S. Suresh Kumar, Joint
“We are delighted that IIJS Premiere of varied metal textures – high polish, Secretary, Department of Commerce,
has generated an estimated USD 6.75 satin, matte, brushed, grainy, embossed, Ministry of Commerce & Industry, were
Billion-worth of business. We are already and hammered finishes. Colour was also a part of the opening ceremony on
witnessing a surge in exports and are introduced by way of pastel enamels, the first day.
confident that the industry will achieve gemstones such as spinels, morganite,
the export target of $43.75 billion this multi-coloured sapphires and fancy Expressing delight about the show
year and contribute more than 10% colour diamonds. Many diamond being hosted in Karnataka, Mr. Nirani,
of Hon’ble Prime Minister Narendra and gold jewellery exhibitors were elaborated on the opportunities that
Modi’s target of achieving $400 billion in overbooked by Days 2 and 3, and they the state could offer to the gem and
total merchandise exports.“IIJS would were reluctant to take in more orders for jewellery industry. He said, “Karnataka is
not have been possible without the fear that they would be unable to honour the only state which produces gold from
unstinted support of the Karnataka State prior commitments, having reached the Hutti Gold Mines and the Kolar Gold
Government to help us organise this maximum capacity. fields. We are aiming to increase the
show successfully. An event of this size production from 1,700kg to 5,000kg. We
and scale needed a great venue, and Of the 21,000 visitors, IIJS received will be opening jewellery retail stores to
we are glad that the BIEC stepped up to more than 300 international buyers promote gold and sell gold coins; we’re
help us organise it.” from countries such as Bangladesh, hoping to partner with private jewellers.”
the UK, USA, Thailand, Singapore, He urged the industry entrepreneurs to
Trends Australia, UAE, and Nepal, who placed attend the Karnataka Global Investors
orders across all jewellery categories. Meet in November 2022 to explore
The rising price of gold pushed Consumer demand has been picking business opportunities.
manufacturers to rethink their product up in the domestic market. With over 80
lines by marrying economics and crore Indians vaccinated with one dose, The event also celebrated the Indian
aesthetics. Minimising the weight of life is already returning to normalcy. With Olympic heroes for their exemplary
gold was a priority. At IIJS, one saw more disposable income on hand, buyers performance at the Tokyo Olympic
a huge variety of designer lightweight are investing in classic jewellery pieces Games 2020. Chief Guest, Mr. Basavaraj
collections. Plain gold jewellery lines for their intrinsic value. Bommai, Karnataka Chief Minister, along
were voluminous, cast instead of
handmade featuring negative spaces.