JB Insights
GGJS 2024 ends on a high note
Show featured 350+exhibitors across 800 stalls; 15000+ visitors attended the show
The 14th edition of GUJARAT GOLD JEWELLERY SHOW (GGJS 2024) ended sus ccessfully, once again confirming its position as a premium GJ trade show. GGJS 2024 featured 350+exhibitors across 800 stalls; 15000+ visitors attended the show.GGJS 2024 was inaugurated by Guest of Honour Dr Chetan Kumar Mehta, President – Jewellery Division – IBJA, President – JAB at the Helipad Exhibition Centre, Gandhinagar along with Hitesh Soni, President – GOWJA, Akshay Mehta, Vice President – GOWJA, Paresh Zarmarwala, Director – GGJS, Jignesh Patadia, Director – GGJS, Surendra Mehta, National Secretary -IBJA and dignitaries from the GJ industry.
Guest of Honour Dr Chetan Kumar Mehta, President – Jewellery Division – IBJA, President – JAB speaking at the GGJS 2024 Inauguration said, “GGJS is one of the premium jewellery shows.It is much awaited by the trade and industry. GGJS is a silent and vibrant show, that has created a great impact for the last 14 years. I applaud GGJS and GOWJA for the dedication in making this show a success.”
Paresh Jhurmarvala, Director – GGJS,speaking at the GGJS 2024 Inauguration said “ The positive impact of GGJS can be gauged by how exhibitors who started with single stall are now exhibiting across multiple stalls Also, they have seen their business grow manifold.Initially GGJS saw small retailers visiting the show.Today all major corporate retail chains are at GGJS.The show has grown from a Gujarat market show to a truly national jewellery show.”
GGJS 2024 featured a wide array of segments including antique jewellery, plain gold jewellery, diamond jewellery,CZ casting jewellery, silver jewellery.The show also featured a machinery and allied section.GGJS saw brisk business across segments especially Kundan, bridal gold and lightweight.GGJS 2024 saw a healthy trade visitor turnout. Besides visitors from all over Gujarat and neighbouring states of Maharashtra, MP and Rajasthan, retailers from South India and Delhi were in attendance.Some exhibitors were of the opinion that there should have been more footfalls from Mumbai, Delhi and Rajasthan markets.
The added value at GGJS was provided by power packed panel discussions featuring the new generation of jewellers. New Generation joining the Jewellery Business and State of the Gold Jewellery Industry provided deep insights and learnings . The other highlight was Coffee with Dr Chetan Kumar Mehta in conversation with an icon, Ba Ramesh – Joint Managing Director of Thangamayil Jewellery.
GGJS is a pivotal event for the jewellery industry, especially in Gujarat, known for its rich heritage and craftsmanship. Its importance is multifaceted, benefiting artisans, businesses, and the industry at large. While GGJS features manufacturers from various regions, it underscores Gujarat’s unique contribution to the world of jewellery.
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Coffee with Dr Chetan Kumar Mehta in conversation with Ba. Ramesh
Dr Chetan Kumar Mehta, CMD Laxmi Diamonds Bengaluru delved deep into the heart and mind of Ba Ramesh, Jt MD- Thangamayil Jewellery.And what we got was pure gold- the wisdom of Ba Ramesh who has seen the rollercoaster ride of life was a great learning, and an inspiration to all
Some of the gems that Ba Ramesh shared:
· A laser focus on work and business. Every breath and every heartbeat is directed towards work.
· Business is enjoyment – it is not work, it is not a task.It is a way of life.
· Develop the inner strength to handle bad times and let not fate defeat you.From 1980 to 1990, I moved from a lakhpati to crorepati to having net value of zero.And then established Thangamayil Jewellery, which will see a turnover of nearly Rs 4800 cr this year.
· Study the jewellery industry and understand its
· finer points, invest in technology, R&D, human resources, build your teams.These investments are critical for one’s growth.
· Look beyond just profit. Understand the concept of valuation.Work towards taking one’s company public and become a wealth creator.
· Do business ethically, respecting the laws of the country.Beyond business, be of service to humanity.
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.
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.
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India’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports
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