OurBuzz
GJC’s 6th edition of GJS 2024 to sparkle at Mumbai’s Jio World Convention Centre
The jewellery industry is set to dazzle as the much-anticipated India Gems and Jewellery Show 2024 (GJS2024) #HumaraApnaShow, a premier retail jewellery exhibition, opens its doors at Jio World Convention Centre, Mumbai, from 25th to 28th September 2024. Organised by All India Gem and Jewellery Domestic Council (GJC), this prestigious event brings together the finest jewellery brands, artisans, designers, and retailers under one roof, offering an unparalleled platform for showcasing exquisite collections and the latest trends in the jewellery world. The inauguration ceremony will be graced by the esteemed Chief Guest Shri Govindbhai L Dholakia – Chairman Emeritus SRK & MP Rajya Sabha, with guests of honour, Mr. Ajoy Chawla, CEO Jewellery Division, Titan Company Ltd., and Dr. B. Govindan, GJC South Zone Chairman & Chairman Bhima Group.
The show will host over 400 exhibitors across 700+ booths, attracting more than 12,000 visitors and securing 2,000+ room nights for hosted buyers. GJS has streamlined the process for retailers, enabling them to conveniently source jewellery from a diverse range of manufacturers and wholesalers, all under one roof. Attendees will have the opportunity to explore a wide variety of jewellery styles, including gold, couture and real diamond-studded ornaments, silver, platinum, gemstones, allied machinery, loose diamonds, pearls, lab-grown diamonds, and bespoke custom designs.
One of the key highlights of this event is its perfect timing, right before the festive and wedding season. The delivery show is scheduled 8 days before Navratri, 17 days before Dussehra, 34 days before Dhanteras, 37 days before Diwali, and 48 days before the wedding season, providing retailers with an ideal opportunity to unveil their latest collections.
Additionally, a special interactive session titled “The Tanishq Story” with Mr. C.K. Venkataraman, Managing Director of Titan Company Ltd., will take place on 25th September 2024. In conjunction with this, the “Let’s Talk” seminar series will feature industry experts hosting seminars.
GJS2024 will serve as a hub for networking, where retailers, designers, and artisans can connect with leading industry players to form collaborations and business partnerships. The organiser has facilitated arrangements such as complimentary meals provided at the venue to ensure attendees’ comfort and convenience.
GJC is hosting two prestigious events at the Jio Convention Centre, Mumbai, in September 2024, bringing together the best in the jewellery industry. On 25th September, GJS Nite, a glamorous networking event, will take place, powered by IDT Gemological Laboratories Worldwide and supported by partners such as Godrej Security, JewelTredz, and Porsche Mumbai. The fashion show, with partners Unique Chains Pvt Ltd, JP Gold, TJ Impex, and BIJS by KNC, will feature collections from renowned jewellers, displayed by leading Indian models and celebrities. During the event, top jewellers will be honoured as “Icons of the Jewellery Industry,” celebrating their outstanding contributions to the field.
Following this, GJC will present the 13th edition of National Jewellery Awards (NJA), on 26th September 2024 at Jio Convention Centre. Presented by the Indian Association of Gold Excellence and Standards (IAGES) by the World Gold Council (WGC), and Powered by the Gemological Institute of America (GIA), Trophy Partner – Pranda, Platinum Partner – Platinum Guild India (PGI), Laboratory Partner – IDT Gemological Laboratories Worldwide, Supporting Partners – De Beers, Swarnshilp Chains & Jewellers Pvt Ltd, Laxmi Diamonds & Padmavati Chains & Jewels, Education Partner – International Institute of Gemology (IIG). The event will honour excellence across the jewellery value chain, recognizing achievements in designs, craftsmanship, marketing, exports, and more. Winners, selected by a distinguished jury of industry veterans and experts, will be announced across six segments and 35 sub-categories, ensuring representation of the diverse sectors of India’s jewellery industry.
BrandBuzz
MCA raises “small company” thresholds – up to ₹10 cr capital & ₹100 cr turnover from 1st December 2025, major relief for jewellery trade
In a landmark decision that will significantly ease compliance for thousands of jewellery businesses across India, the Ministry of Corporate Affairs (MCA) has revised the definition of “Small Company” under the Companies Act, 2013, effective 1st December 2025.GJC published and sent out this important update to the jewellery trade.
New Eligibility Criteria (both conditions to be satisfied):
- Paid-up Share Capital : ≤ Rs.10 Crore (earlier Rs.4 Crore)
- Annual Turnover : ≤ Rs.100 Crore (earlier Rs.40 Crore) (as per the latest audited financial statements)
Any company exceeding even one of the above limits will cease to be a Small Company.
Key Benefits for Jewellers (Private Limited & Family-Owned Firms):
- Only 2 Board Meetings required in a year
- Exemption from mandatory Internal Audit in most cases
- Substantially lower penalties for defaults
- Simplified Annual Return via Form MGT-7A
- No need to prepare Cash Flow Statement in financials
- Exemption from mandatory Auditor Rotation – continue with existing trusted auditors
- Reduced overall compliance cost and administrative burden
GJC advised jewellery firms to immediately review their Paid-up Capital and Turnover for FY 2024-25 to confirm eligibility and start availing the relaxations from the current financial year itself.
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