JB Insights
APGJF 2024 is a resounding success
State’s Largest B2B jewellery exhibition helps consolidate Vijayawada’s
position as a key GJ hub
Andhra Pradesh’s largest B2B jewellery exhibition, ANDHRA PRADESH GEM AND JEWELLERY FAIR (APGJF) 2024, held between December 13th and 15th at SS Convention Centre, Vijayawada, soared to new heights this year.Large crowds thronged the venue on all the three days and almost all the exhibitors were extremely satisfied with the brisk business transactions that they concluded and the network of new contacts they could establish.
APGJF is jointly organized by India’s premier jewellery exhibition management company United Exhibitions and AP Bullion Gold Silver & Diamonds Merchants Association.
The show began with the grand Inauguration Ceremony attended by the Chief Guest Dr. Ponguru Narayana, Hon’ble Minister of Municipal Administration and Urban Development, Govt of Andhra Pradesh. at the inaugural ceremony the chief guest was accompanied by the esteemed leaders from the Indian jewellery industry.
This year’s show brought together over 200 of India’s top and renowned jewellery manufacturers, wholesalers and technology service providers under one roof with over 9,600 visitors from across the Southern states and other parts of India. On display were over 5,00,000 designs displaying innovation and creativity and provided perfect options to the retailers as they prepare for the forthcoming festive and wedding season for the people from Telugu states.
K. Vijay Kumar, State President, APBGSDMA, said, “The buying spirit at the exhibition was consistently high on all three days after a fantastic start! APGJF 2024 saw a remarkable turnout of visitors from across the region, covering the spectrum of retail businesses from large corporate chains to small, single store retailers. This is a clear sign that the show serves a very important need in the region. We are confident that it will continue to grow.”
Shantilal Jain, State Chief Organizer, APBGSDMA said that Vijayawada is now gaining recognition as a key hub of the gem and jewellery industry. “Visitors were highly appreciative of the vast variety of choices which they had. They also reacted positively to the innovation and creativity in new designs that gave contemporary look to the traditional southern ornaments. APGJF is being seen as an important platform in the B2B supply chain for Telugu states.”
APGJF also won praise for its business-friendly environment with strict B2B norms implemented in regulating entry, along with a number of key networking and knowledge-sharing events that provided space for interaction and exchange of ideas and information.
V.K. Manoj, Project Director, United Exhibitions said “We made every effort to ensure the success of the show by adhering to the highest standards in planning and execution and ensuring that hospitality was flawless in every aspect .We are happy that APGJF has been recognised as a high-quality platform and now become an important milestone in the trade fair calendar of South India. A clear indication of this is that we have already received many confirmations for participation in APGJF 2025.”
Among the highlights of the three-day event was the Stars of Andhra Pradesh Awards & Networking Nite held on the evening of Dec 13th 2024 at Novotel Vijayawada where leading jewellers and key supporters who have helped uplift the trade were felicitated. Adding sparkle to the event was the presence of Miss Mannara Chopra, popular actress and celebrity in South India Cinema has filled the evening with glitter and glamour.
JB Insights
PM Modi’s Appeal Sparks Wider Conversation Around Responsible Gold Consumption
Industry Voices Discuss Sustainability, Smarter Gold Utilisation, and Evolving Consumer Behaviour Amid Economic Uncertainty
Prime Minister Narendra Modi’s recent remarks encouraging mindful spending and responsible gold consumption have triggered widespread discussions across India’s jewellery industry. The comments come at a time of heightened global economic uncertainty, rising crude oil prices, and increasing pressure on import-dependent sectors.
With gold continuing to remain one of India’s most culturally significant assets as well as a major import commodity, industry stakeholders are now exploring ways to balance consumer sentiment, economic stability, and long-term sustainability.
Leaders from across the gems and jewellery sector have largely viewed the remarks as an opportunity to encourage more efficient utilisation of existing gold resources, while also adapting to changing consumer preferences.
Prithviraj Kothari, Managing Director at RiddiSiddhi Bullions Ltd., President of India Bullion and Jewellers Association Ltd. and Chairman at Jain International Trade Organisation:
“The impact will be psychological, not structural. India’s 10–12 million annual weddings embed gold demand that is pre-committed and culturally non-negotiable — Akshaya Tritiya, Dhanteras, and wedding-season buying will not simply stop on a PM’s appeal. The PM’s words, however, may nudge discretionary buyers toward lighter jewellery, digital gold, and ETFs — formats that don’t trigger import demand. In FY26, India imported nearly $72 billion worth of gold — a record high. Global cues — Iran-US tensions, crude oil, and the dollar — will dominate price direction. The appeal is a signal of macro seriousness, not a market-moving policy lever.”
Rajesh Rokde, Chairman, All India Gem and Jewellery Domestic Council (GJC), said:
“India’s economic strength must always come before individual preferences. The Hon’ble Prime Minister’s appeal reflects larger concerns around imports and foreign exchange reserves. At the same time, India already possesses thousands of tonnes of idle household gold. The solution may not lie only in reducing demand, but also in unlocking the immense value of existing gold through a transparent and regulated Gold Monetisation Scheme.”
According to GJC, a revitalised and jeweller-integrated Gold Monetisation Scheme (GMS) could help:
- Mobilise idle household gold
- Reduce import dependence
- Strengthen the formal economy
- Improve transparency and traceability
- Convert dormant gold into productive national capital
Avinash Gupta, Vice Chairman, GJC, added:
“Gold has always been emotionally and culturally connected to Indian households. Respecting the Prime Minister’s vision for national interest, the industry believes that a robust and regulated Gold Monetisation Scheme can become a long-term solution for India. The answer lies not only in consuming less gold, but in utilising existing gold more efficiently, transparently and productively.”
Industry experts also highlighted how evolving consumer choices are already reshaping jewellery buying patterns, particularly among younger generations seeking lighter, versatile, and value-conscious options.
Suvankar Sen, MD & CEO, Senco Gold & Diamonds, noted:
“The sharp decline in gold imports for jewellery consumption reflects both changing consumer behaviour and industry adaptation. With nearly 20,000 tonnes of gold lying idle within the Indian economy, there is a strong need for the Government and industry stakeholders to work together to mobilise this dormant asset.”
He further added that the industry is adapting through lower-weight and lower-carat jewellery products to maintain affordability and accessibility for consumers.
Meanwhile, Visshnupriya Singh, CEO, Svariya, pointed toward the growing demand for demi-fine jewellery among millennials and Gen Z consumers.
“Prime Minister Narendra Modi’s remarks on mindful gold buying have sparked an important shift toward smarter and more practical consumer choices. While gold will always hold cultural and emotional value in India, millennials and Gen Z are increasingly choosing jewellery that balances elegance, versatility, and affordability.”
She added:
“This growing preference is driving demand for demi-fine jewellery, where consumers can enjoy premium design and craftsmanship without making heavy investment purchases. At Svariya, we believe modern luxury today is defined by individuality, everyday wearability, and smart style choices.”
Despite ongoing discussions around consumption patterns and imports, industry observers believe gold’s emotional and cultural relevance in India — especially during weddings, festivals, and family celebrations — remains deeply rooted. At the same time, the conversation has opened new avenues around responsible consumption, sustainable growth, gold recycling, and smarter utilisation of existing resources within the Indian jewellery ecosystem.
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