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
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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