JB Insights

GGJS 2024 ends on a high note

Show featured 350+exhibitors across 800 stalls; 15000+ visitors attended the show

Published

2 years ago

December 31, 2024

JewelBuzz Spread The Buzz

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.

********

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.

Related Topics:2024 ggjs jbinsights ourbuzz showbuzz

Up Next

Emerald Jewel Industry sets world record with ‘SAY NO TO DRUGS’ awareness event

Don't Miss

Jaipur Jewellery Show 2024 receives enthusiastic and positive response

Click to comment

Name*

Email*

Website

Name*

Email*

Website

0 Comments

Oldest

Newest Most Voted

JB Insights

Festive & Wedding Season Trade Outlook: Resilience, Innovation, and Growth

Published

2 hours ago

October 22, 2026

JewelBuzz Spread The Buzz

JB Exclusive

JewelBuzz spoke to trade and industry leaders who said thatstrong consumer affinity for gold as a safe-haven and emotional asset, and high demand for lightweight, design-focused offerings are driving renewed momentum. Although higher price points may decrease overall volume (by weight), total revenue and consumer trust in gold as a store of wealth remain strong.

The Indian retail jewellery sector is approaching the crucial Diwali, and upcoming wedding seasons with a mixture of pragmatic caution, strategic innovation, and underlying optimism.

Following a period of sluggish sales driven by record-high gold prices and market volatility, industry leadership expects a noticeable turnaround. Decreasing or stabilizing gold prices, strong consumer affinity for gold as a safe-haven and emotional asset, and high demand for lightweight, design-focused offerings are driving renewed momentum.

While overall physical volume (by weight) may remain subdued or flat compared to previous years, overall sales value is projected to grow anywhere from single/low-double digits up to 20%–25%, depending on retail positioning and product portfolio.

Key Market Dynamics & Consumer Trends

1. Sluggish Past Months & Strategic Pivots to Lightweight Collections

Prior to the festive onset, retail sales experienced a downward trend due to price volatility. However, jewellers are actively countering this by shifting focus toward lightweight gold, close-set natural diamonds, silver artifacts, and platinum lines. As N. Anantha Padmanaban (Chairman, NAC Jewellers) notes:

“Sales has been on the downward trend due to various reasons for the past few months, but we are expecting good sales with gold prices coming down during Navratri & Diwali…”

Retailers are innovating across price points to capture value-conscious shoppers. NAC Jewellers, for instance, has introduced lightweight gold options such as the traditional cow-themed Surabhi collection, lightweight silver lamps for Dhanteras, and close-set diamond lines to stimulate demand.

2. Emotional Connection & Bridal Resilience

Despite elevated rates, consumer trust in gold as both an emotional asset and cultural anchor remains steadfast. Addressing the underlying consumer sentiment, Dr. Pratap Madhukar Kamath (MD, ABARAN) emphasizes:

“We remain highly optimistic about jewellery sales during the ongoing festive season and the upcoming wedding season. Despite elevated gold prices, consumer sentiment continues to be encouraging, reaffirming gold’s timeless significance…”

This sentiment translates into steady interest across traditional bridal jewellery, contemporary lightweight pieces, and investment-oriented purchases ahead of the heavy wedding dates.

3. Industry Call for Patience & Wedding Stability

Addressing market anxiety surrounding gold rate fluctuations, Rakhal Gontla (Jt MD, Vaibhav Jewellers) offers a reassuring message to the trade:

“My message to the trade and industry is simple: Don’t panic. These may be challenging times, but it is important to stay resilient, hold your ground and navigate the market with patience and perseverance.”

Marriage-related sales are expected to stay particularly healthy, backed by gold’s central role in traditional ceremonies.

4. Volume Subdued, Value Growth Driven by Gen Z & Alternative Metals

Rising gold rates have led to a division between physical volume and monetary sales value. Jayantilal Challani (Chairman, Challani Group Of Companies) observes:

“The jewellery industry expects a cautious and value-driven festive season, with total sales value projected to grow in single or low-double digits even as physical volume remains subdued due to record-high gold prices.”

To bridge this gap, jewellers are tapping into Gen Z buyers who favor minimalist designs—such as thin chains, stud earrings, and understated rings—and shifting attention toward natural diamonds and alternative metals.

5. Natural Diamonds & Expanding Value Expectations

As gold prices surge, natural diamonds are gaining significant market share, evolving from purely bridal wear to everyday lifestyle pieces. Eshwar Surana (MD, Raj Diamonds) projects strong growth in value:

“We believe the festive season will add sparkle to jewellery sales, and we expect it to grow 20–25% in value. We have already witnessed a strong and encouraging customer response…”

Rising disposable incomes and millennial demand for meaningful investment pieces are helping power this 20%–25% value surge.

6. Transparency & Consumer Confidence

Navigating periods of high pricing requires absolute trust. Dr. C. Vinod Hayagriv (MD, C. Krishniah Chetty Jewellers) cautions against misleading retail tactics while noting a muted initial sentiment:

“The sentiment for the festive season is muted… It is essential that we maintain consumer confidence with genuine sales promotions. Without inflating prices and artificially discounting—which erode consumer confidence.”

Maintaining genuine promotional integrity is seen as vital for matching or modestly exceeding last year’s festive performance.

7. Gold’s Intrinsic Value Amid Volatility

Concluding the trade sentiment, John Alukka (Jt MD, Jos Alukkas) points out that elevated gold rates actually reinforce consumer belief in the metal’s enduring value:“

Consumers are constantly seeking value and they find it in gold. In fact the consumer trust in gold has increased because of the higher value. There could be slight hesitation and confusion because of rate variations…”