loader image
Connect with us

OurBuzz

GJIIF Chennai 2023 concludes on a high note with record breaking footfall

Published

on

271 views

The Gem and Jewellery India International Fair (GJIIF), India’s largest B2B exhibition for South Indian Jewellery, concluded on a positive note in Chennai with aisles full of buyers consistently on all 3 days of the show placing their orders to meet the demand during the upcoming festival and wedding season. It was held at the famous Chennai Trade Centre from Friday, 29 September to Sunday, 1 October 2023. 

GJIIF was organised by The Jewellers & Diamonds Traders Association – Madras in association with Tamil Nadu Jewellers Federation and managed by India’s leading exhibition management company United Exhibitions. GJIIF is one of the most sought-after gems and jewellery show with display of jewellery specific to south Indian markets and this edition one of the largest till date with participants from across India showcasing their finest jewellery collections to the best of the jewellery buyers interested in sourcing South Indian Jewellery. 

GJIIF is growing faster while holding its niche for South Indian Jewellery Markets with an year on year growth equating itself to few prominent jewellery shows of India by holding bigger and better shows every year. It is a great platform for the Indian jewellery market – right from the manufacturers, wholesalers who are dealing in jewellery suited for South markets and has gained prominence from the retailers to source the widest range of South Indian Jewellery Designs under one roof.

The festive edition of the show had great footfall and played host to over 13000+ trade visitors. The show was spread across an area of 200,000+ square feet and 760 booths of B2B display. The perfect timing of the show, which coincides with the festive and wedding season, witnessed a Positive response from both the visitors and exhibitors. There has been an extremely overwhelming response from the buyers who were impressed by the wide variety of latest gold, diamond and silver jewellery collections at the show. The breathtaking and sparkling jewellery collection managed to enthrall the visitors who had come from different parts of the country to be a part of this beautiful show. 

I am happy that the entire jewellery industry attended our show and all three days went well. All the exhibitors are really happy as they could meet some of the best prospective buyers. The visitors came in large numbers and we witnessed good business happening. It’s a good omen for the forthcoming festive and wedding season and I look forward to a great season ahead of us” said Jayantilal Challani, President MJDTA & Convener, GJIIF.

“Both the visitors and the exhibitors have been excited about this show. I have been going around and everyone is so happy and satisfied. A lot of effort has been put in to bring this show to the next level. We have tried to provide all possible comfort to the visitors as well as the exhibitors. I am sure it is going to be a prosperous season from here on. It feels amazing. I am so thankful to everyone.” Said VK Manoj, Project Director, United Exhibitions – The Show managers for GJIIF.

The latest and trendy jewellery designs caught the attention of the buyers who came with the mindset to purchase for the forthcoming season. They expressed their great happiness in finding a good range of jewellery to stock up just before the impending festive season.

“I am exceedingly happy to see the response to the show. It’s mind-boggling even though there is another show happening simultaneously. The visitors have been very appreciative of our designs which have been stocked as per the current trend in the market. Most of the visitors that visited our stall were from across the south Indian market. We are looking forward to a fruitful festive and wedding season.” Said. Nikhil Pamecha, Director, Super Gold

Those who came to seek knowledge were also extremely happy with the quality knowledge-based sessions held during the three days of GJIIF. On day 1, the main attraction was been the

India Lab-grown Diamond Conclave with its theme and sessions based on “Building the Value Chain for a Brighter Future”. Some of the most eminent industry speakers delved into various informative topics like consumer awareness, retail strategy, pricing strategy, ethics, sustainability, and the challenges and opportunities for the lab-grown diamonds segment. . Jayantilal Challani, President, MJDTA and Convener of GJIIF, welcomed the panel of speakers which comprised of Arnav Mehta, MD, Star Blue Jewels, Anup Zaveri, Director, Real Illusion LLP, Apoorva Deshingkar, Sr. Director, Education & Market Development, GIA India, and Mr. Hemant Shah, Independent Consultant and Partner, Alcraftist who gave an overview of the lab-grown diamonds industry and India’s position in it. 

The other set of delegate speakers consisted of. Pooja Sheth Madhavan, Founder & MD, Limelight Lab Grown Diamonds, Miraj Patel, CSO, Greenlab Diamonds LLP Nirav Jogani, Director & Vice Chairman, RSM Astute & Lemon Consultech Groups, and Subbu, Editor, The New Jeweller International Media Group & Diamond Mirror. They brainstormed on LGD jewellery retail evolution and ESG. 

It is amazing to know that lab-grown diamonds have been positively imbibed in the industry and hold a great future. India has a good share in the world market and has all the expertise to become a pioneer in this segment. In these times when it is becoming difficult to extract natural diamonds from the mines, the lab-grown diamonds are filling up the need with their beauty.

At the Shining Stars Awards & Networking Nite held at Hotel Hyatt Regency, dignitaries and who’s who of the gems and jewellery industry came under one roof for this glittering event. It was a pleasure to see everyone cheering the Young Achievers and Icons of the Industry being felicitated for their contribution to the development of the trade. 

The evening was quite sizzling with everyone enjoying the cultural activities that were performed by renowned artists. . Mithun Sacheti, Founder, Caratlane was recognised with Pride of India Award and . AV Jos, Chairman, Jos Alukkas Group was felicitated with Lifetime Achievement Award amidst the presence of Alukkas entire family and the top brass of Indian Jewellery Industry. . Nirav Bhansali, . Jayantilal Challani, . Santha Kumar, . Mahender Tayal, . Ba Ramesh, . K Surendran, . Yogesh Kothari, . VK Manoj, . Mohandas Kulasekaran, . Surendra Mehta, . Vijay Kumar were amongst the guests at the starry networking evening. 

Days 2 and 3 witnessed an equally exciting number of visitors who expressed their satisfaction to be at the show which had so much to offer them. “As the convener of this show, I would like to thank all the people involved. The exhibitors for their support, the visitors for their enthusiasm, and all the industry dignitaries who visited the show. 

On Day 2 there was a panel discussion named Retail Jewellery Master Class which was moderated by Gold Guru . Santha Kumar, Proprietor, S R Jewellery, Chennai. The prominent speakers for this discussion were . AS Sriram, Director, ANS Jewelry, . Imtiaz Ahamed, Director, LKS Jewellers, . Gandhi Khabiya, Sumangali Jewellery, Pallipattu, . Karthik K, Founder & Partner, Surabi Jewels Partner, . S Selvam, Founder, Sri Krishna Nagai Maligai, . Aathama Valli Nathan, Partner, Sri Valli Vilas Jewellery and . Sripal Challani, Partner, Challani Jewellery Mart, Chennai. 

The second session was continued with Executive Committee meeting and Annual General Body Meeting of Tamilnadu Jewellers Federation attended by all the leaders of the state associations which was a talk of the town.

Day 3 concluded with a panel discussion on the benefits of the PM – Vishwakarma Yojana Scheme for jewellery artisans attended by the officials from MSME department All of the keynote speakers brought out the essence of the industry and spoke very well for its betterment and followed by Porkollar Maamani Awards & Scholarships (for artisans) presented by the MJDTA and followed by valedictory function.

The three-day show brought together the entire industry and concluded with an appreciative valedictory function recognizing the contributions of the various committee members & felicitating the heroes who were unsung and worked from behind the screens to bring this event to such a humongous success. It is through their hard work and effort that a show of this big a magnitude taking place edition after edition. 

Continue Reading
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

BrandBuzz

Dassani Brothers unveils an exclusive curation of jeweled treasures for Father’s Day

This Father’s Day, Dassani Brothers unveils an exclusive curation of jewelled treasures, masterfully designed to honour the men who lead with quiet strength, unwavering dignity, and timeless grace.

Published

on

2,208 views

Introducing a collection that speaks the language of legacy—featuring cufflinks, brooches, kurta buttons, and belts, each piece handcrafted in rich 18kt gold, and adorned with uncut polki diamonds, carved emeralds, and regal gemstone accents.

Meticulously crafted in opulent 18kt gold, and embellished with the raw brilliance of uncut Polki diamonds, the rich verdancy of carved emeralds, and a palette of regal gemstones, every design is a testament to enduring style and personal legacy. The collection blends traditional artistry with contemporary sophistication, creating pieces that are both visually arresting and sentimentally priceless.

This is more than a gift—it is a future heirloom, meant to be cherished across generations. Whether he is a man of quiet refinement or bold distinction, the Dassani Brothers’ Father’s Day collection offers a striking expression of love, reverence, and legacy, designed to stand the test of time.

Continue Reading

ShowBuzz

India diamond  sector hit by Trump tariffs tsunami: Threatening livelihoods, export volumes, and India’s global dominance 

Published

on

2,064 views

The imposition of a steep 26% tariff on Indian diamond exports to the United States, announced under former U.S. President Donald Trump’s “reciprocal trade” strategy, has delivered a fresh blow to Surat’s already embattled diamond industry. Just as the sector was showing tentative signs of recovery from prolonged recessionary trends, this abrupt policy shift has thrown global trade dynamics into disarray—threatening livelihoods, export volumes, and India’s global dominance in the gems and jewellery market.

As the global hub for diamond cutting and polishing, Surat processes over 90% of the world’s diamonds, with the U.S. being its largest consumer market. Of the $32.85 billion worth of gems and jewellery exported from India in FY 2023-24, over 30% went to the U.S., amounting to nearly $10 billion. A significant portion of these exports—ranging from cut and polished natural diamonds to lab-grown alternatives—will now be subjected to high tariffs that fundamentally alter their market competitiveness.

Previously, exports to the U.S. incurred zero tariffs. With natural diamonds now taxed at 26% and lab-grown diamonds at 29%, the sudden surge in costs threatens to erode already razor-thin margins, as acknowledged by Babu Vaghani, President of the Lab Grown Diamond Association (LGDA). Exporters may be forced to raise prices or absorb the additional costs, both of which are unsustainable.

The impact is not merely hypothetical. As Dinesh Navadiya of the GJEPC (Gem & Jewellery Export Promotion Council) noted, while demand for diamonds in the U.S. is culturally entrenched, a steep price rise is likely to delay purchases in the short term. Projections that India’s exports to the U.S. would reach $11.58 billion in FY 2024-25 now appear overly optimistic.

The profit margin for exporters often hovers around 25–30%. With tariffs nearly equalling the margin, companies are facing a critical inflection point: either pull back from U.S. markets or find ways to offset the cost elsewhere. According to Laljibhai Patel, head of Dharmanandan Diamonds, this new cost burden, combined with existing logistics and insurance expenses (6%), makes Indian goods substantially less competitive than those from untaxed geographies.

Ironically, the tariff also disrupts one of the few bright spots in India’s jewellery export landscape—lab-grown diamonds (LGDs). With their appeal rooted in affordability, sustainability, and innovation, LGDs were driving diversification in export profiles and attracting younger global consumers. Now, with a 29% duty, even this emergent segment faces severe headwinds.

Surat, already a leading global centre for LGD production and export, was banking on this segment to anchor future growth. The tariff threatens to derail momentum just as the sector was scaling operations, investing in technology (e.g., CVD), and securing global buyers.

Industry Reaction: A State of Suspended Activity

The fallout has been swift– buying activity has halted in both the U.S. and Surat. Rough diamond purchases have stalled as exporters and traders enter a “wait-and-watch” mode, uncertain of how long the tariff will last or whether any diplomatic resolution is forthcoming.

While some remain hopeful that the strong diplomatic relationship between India and the U.S.—especially between Trump and Prime Minister Narendra Modi—could facilitate a rollback or exemption, policy clarity is urgently needed.

Broader Implications and Strategic Considerations

This development also raises larger questions about India’s trade resilience and diversification strategy:

  • Can India reduce its overreliance on the U.S. by diversifying its jewellery export markets to Europe, the Middle East, or Southeast Asia?
  • Will this tariff act as a catalyst for greater domestic demand or intra-Asian trade in diamonds and jewellery?
  • Should India now accelerate investment in branding, design, and retail innovation to justify premium pricing abroad?

In the immediate term, the industry needs governmental intervention—be it through bilateral negotiations, export incentives, or subsidies for MSMEs in the diamond supply chain—to stay competitive.

Conclusion: A Wake-Up Call for the Industry

Trump’s tariff policy may have been designed with strategic trade balancing in mind, but its unintended consequence is the destabilisation of a crucial export sector in India. Surat’s diamond industry, already walking a tightrope, now finds itself in urgent need of policy support, market reorientation, and adaptive innovation.

Despite high gold prices, demand remains steady in Asian countries like India. Similarly, diamonds are culturally important in the US, but a sudden price rise due to tariffs is expected to reduce short-term purchases. In 2023-24, India’s gem and jewellery exports to the US totalled $9.95 billion (~₹86, 157.79 crore). However, the hope that this figure would rise to $11.58 billion (~₹1 lakh crore) in 2024-25 now seems bleak. That said, there remains a possibility of market stabilisation in the future.

-Dinesh Navadiya, regional chairman of the Gem and Jewellery Export Promotion Council (GJEPC)

Continue Reading

DiamondBuzz

Angola Strengthens Global Diamond Ties with GIA and Tiffany & Co.

Published

on

2,189 views

Angola is making significant strides in expanding its footprint in the global diamond industry, announcing key partnerships and future plans during the World Federation of Diamond Bourses (WFDB) conference held in New York.

A delegation from the Angolan Ministry of Mineral Resources, Petroleum and Gas (Mirempet) engaged in high-level discussions with several major players in the diamond sector. Among the announcements, Angola expressed its intention to join the National Diamond Council (NDC), the Angola Diamond Exchange, and the WFDB, as revealed by the ministry on its official Facebook page.

A notable meeting took place with Tiffany & Co., where the two parties explored a potential partnership that could see the renowned jewelry brand sourcing diamonds directly from Angola.

In another significant development, Mirempet signed a memorandum of understanding with the Gemological Institute of America (GIA). This agreement outlines future collaboration in gemological training, diamond grading, and the development of services aimed at ensuring transparency in Angola’s diamond trade.

Minister of Mineral Resources, Petroleum and Gas, Diamantino Azevedo, also met with Rapaport Group Chairman Martin Rapaport to explore opportunities for cooperation focused on ethical practices, enhanced market positioning, and global promotion of Angolan diamonds.

Continue Reading
Advertisement

Trending

CONTACT US

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

error:
0
Would love your thoughts, please comment.x
()
x