The 4th International Gems and Jewelery Show (IGJS) Dubai, organized by the Indian Gems and Jewelery Export Promotion Council (GJEPC), opened today. Co-organized by Suntec Business Solutions and sponsored by Dubai Gold & Jewelery Group (DGJG), this special event will bring together the finest Indian gemstones and jewelery and showcase India as a premier destination for global buyers. strengthen its position.
The opening ceremony of IGJS Dubai 2024 was attended by dignitaries including Mr. Satish Kumar Sivan, Consul General of India in Dubai, as the guest of honour. Mr. Kirit Bhansali, Vice Chairman of GJEPC. Mr. Chandu Siroya, Vice Chairman of DGJG, was the guest of honor. and Tamjid Abdullah, Group Deputy CEO, Jawhara Jewelery, United Arab Emirates. Mr. KP Abdul Salam, Vice Chairman of Malabar Gold & Diamonds; Mr. Ramesh Vora, GJEPC Middle East Coordinator. Mr. Nirav Bhansali, GJEPC National Exhibition Convener. and GJEPC Secretary General Sabyasachi Ray.
Satish Kumar Sivan, Consul General of India in Dubai, said: Both countries are working towards the goal of achieving $100 billion in non-oil bilateral trade. This progress has been made possible by the dynamic growth of gems and jewelery trade in 2023-2024, reaching a value of USD 28 billion and emerging as the most traded commodity between India and the UAE during this period . It is encouraging to see the impressive growth in gems and jewelery exports from India to the UAE following the India-UAE CEPA. From 2023 to 2024, India’s exports in this sector increased by 40% to reach USD 8 billion. โ
DGJG Vice Chairman Chandu Siroya said, “The UAE and India must take advantage of the CEPA agreement. The IGJS show represents the best of both countries.” While Dubai has established itself as the ultimate jewelery distribution destination, India boasts competitive production capacity. The partnership is poised to be successful, backed by Dubai’s favorable laws and ease of doing business. As we enter the holiday season, people are in the mood to buy jewelry like never before. โ
In his welcome address, GJEPC Vice-Chairman Kirit Bhansali expressed his joy at the growth of the show, saying: Leading to deeper partnerships and new growth opportunities. In 2023, India’s jewelery exports to the UAE will reach $8 billion, with exports of plain gold jewelery increasing by 102% and exports of studded jewelery increasing by 25%. We are also witnessing increased demand from key Middle Eastern markets such as Saudi Arabia, Bahrain, Kuwait and Oman. IGJS Dubai has played a pivotal role in meeting the evolving needs of these markets. โ
The event will feature 30 leading manufacturers showcasing stunning diamond-studded jewellery, gem-encrusted jewellery, and gold jewellery, from the UAE, Saudi Arabia, Qatar, Kuwait, UK, US, Africa and Russia. We have gathered over 300 international buyers, strengthening our global reach. of this prestigious show.
Kirit Bhansali further added, โAs we all know, the global gem and jewelery industry is currently facing the challenge of declining demand in key consumer markets such as the US and China. It is important that stakeholders make concerted efforts to increase demand for jewelery as a product category. As a major player in the midstream sector, India is taking steps to increase demand across key regions. We work with De Beers and the Natural Diamond Council to promote diamonds and diamond jewelry in general, and with the World Gold Council to drive demand for gold jewelry, a highly competitive luxury product. It is essential to ensure that the market captures its fair share of consumer spending.โ
Nirav Bhansali acknowledged the importance of the UAE, driven by a growing consumer base and a thriving tourism sector that is fast becoming a major hub for jewelery sales. He also mentioned key regional initiatives, such as Saudi Arabia’s Vision 2030 and Qatar’s Tourism Strategy 2030, which will significantly boost market demand.
โCombining India’s unparalleled expertise in jewelery craftsmanship with the UAE’s thriving market will ensure we can meet the ever-growing demand for high-quality, ethically made jewelery in the region and beyond.โ said Nirav Bhansali.
To strengthen trade ties with the UAE, GJEPC has established the Indian Jewelery Expo (IJEX) in Dubai. This is a dedicated B2B platform that allows GJEPC members to showcase their products and receive orders from UAE buyers all year round. Additionally, the Council organizes 20 India pavilions throughout the fair throughout the year.