JB Insights

BIJS 2023 ends on a high note; overwhelming response from trade

Published

2 years ago

January 10, 2024

The 4th edition of the Bengal International Jewellery Show 2023 (BIJS), from 8-19 Dec 2023 , organised by KNC Services, concluded with an overwhelming response, generating its highest-ever business for the trade. The largest gem and jewellery fair in East India had 10,000+ visitors at the Milan Mela Exhibition Centre, Kolkata

Show Highlights:

✅ 250+ manufacturing companies exhibited at the show
👥 10,000+ national visitors from across India
🛍️ 50+ retail chains participated from all over India
🌍 500+ overseas buyers from 10+ countries

The event witnessed more than 500 visitors from over 10 countries, including the USA, UK, UAE, Saudi Arabia, Qatar, Bangladesh, Bahrain, Kuwait, Germany, Turkey, and many more. The distinguished guest list included hosted buyers from all regions, elevating the event to an unparalleled international stature

Kranti Nagvekar, Founder of KNC Services, expressed, “I wish to convey my appreciation to both exhibitors and visitors for their incredible support. We saw a remarkable turnout of over 10,000 visitors hailing from 500 cities across India, marking this as the most successful East India trade show in 2023

The grand show was marked with the distinguished presence of Shri Joy Alukkas, Founder & Chairman of Joyalukkas India Pvt Ltd., who inaugurated the expo along with Ali Saleh Baterfi Al Kindi, Vise Chairman, Federation of Council of Saudi Chamber, Jeddah, Saudi Arabia; Samar Kumar De, President, SSBC; Arun Kumar Varma, President, BGJA; Tagar Chandra Poddar, General Secretary, Bangiya Swarna Shilpi Samiti;.Kranti Nagvekar, Founder and MD, KNC Services; Suvankar Sen, Chairman and MD, Senco Gold; Saiyam Mehra, Chairman, GJC; Suber Sen, Chairman, B.C. Sen Jewellers, Pankaj Pariekh, Regional Chairman, GJEPC amongst others.

KNC conducted various events honouring stalwarts and achieve4s in the GJ industry during BIJS 2023

Durga Awards

KNC honoured five women entrepreneurs for their tremendous work in the jewellery industry; the awardees were Ranjana Sen, Chairman, Senco Gold Ltd., Nilima De., Partner, Guinea Emporium,Pooja Mehra, Director, Unique Chains,Sushma Epari, Director, Epari Jewellers,Prerna Gupta, MD, Rhombus Jewels.

Hunnar Awards

As everyone knows, East India is known for its craftsmanship. The award organised by KNC supported by local associations, the Hunnar Awards for all handcrafted jewellery karigars for their best jewellery-making designs. The awards were given to the honoured top 3 handcrafted jewellery artisans who submitted their handmade jewellery on December 8th for the jury round; the final 3 got selected by the jury ( Joy Alukkas, Suvankar Sen, Al Batarfi, Kranti Nagvekar, and all Dias members were part of the jury). The 1st prize of the Hunnar Award is Rs. 100000, the 2nd is Rs. 50000, and the 3rd is Rs. 25000. The same was given by Samer Dey and by Ms. Kranti Nagvekar

Networking Event

KNC Services organised the networking event on the second day of the show, i.e., December 9, 2023, to build the network between manufacturers, wholesalers, and retailers

Lifetime Achievement Award

KNC has honoured Hasmukh Parikh with a life-time achievement award for his tremendous work towards the industry; his company is one of the top export jewellery companies from the East region.

On this momentous occasion, KNC launched their upcoming Riyadh show in Saudi Arabia. Dates and venue were announced, along with the 2nd edition of the Jeddah Show.

Related Topics:2023 2024 jbinsights knc ourbuzz showbuzz

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JB Insights

India’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports

With An Estimated 32,000 Tonnes Of Gold Sitting Unused In Homes and Temples, The Government Sees A Massive Opportunity To Reduce Imports, Strengthen The Economy, and Build A More Sustainable Gold Ecosystem.

Published

2 days ago

June 3, 2026

JewelBuzz Spread The Buzz

India is sitting on one of the world’s largest untapped gold reserves, with 30,000–32,000 tonnes of gold held by households and temple trusts across the country. Valued at nearly $3.8 trillion (around Rs. 361 lakh crore), much of this gold remains locked away in cupboards, lockers, and vaults, generating little economic value.

Highlighting the importance of this dormant asset, Prime Minister Narendra Modi recently encouraged citizens to consider recycling idle gold rather than relying solely on newly imported supplies. The initiative aims to bring existing gold back into circulation and make better use of resources already available within the country.

The appeal comes at a time when India continues to depend heavily on imported gold to meet domestic demand. During 2025-26, the country spent approximately $72.4 billion (Rs. 6.88 lakh crore) on gold imports, making the precious metal one of the largest contributors to the import bill.

According to experts, increasing gold recycling could deliver significant economic benefits. Every gram of recycled gold reduces the need for an equivalent amount of imports, helping ease pressure on foreign exchange reserves while also supporting efforts to narrow the country’s current account deficit.

Even a small shift could have a substantial impact. Industry estimates suggest that if just 1% of the gold held by households and temples is recycled each year, India’s gold imports could decline by approximately 25% to 30%.

The vast stockpile of idle gold is rooted in India’s longstanding cultural and financial relationship with the metal. For generations, gold has served as a store of wealth, a safeguard during emergencies, and a symbol of family security and prosperity. As a result, many families continue to hold jewellery that is rarely used but seldom sold.

Viewed from a broader perspective, the government sees this dormant gold stock as a valuable domestic resource. Bringing a greater share of it into the formal economy could help reduce dependence on imports, enhance economic stability, and create a more sustainable gold supply chain for the future.