OurBuzz
GJS Diwali ends on a successful note; receive an overwhelming response
The jewellery industry’s most premium B2B Expo, #HumaraApnaShow, India Gem and Jewellery Show (GJS), was organized by the apex industry body, the All India Gem and Jewellery Domestic Council (GJC), from 30th September 2023 to 3rd October 2023, at the prestigious Jio Convention Centre, Mumbai. The four-day event was inaugurated by the honourable Governor of Maharashtra, Shri Ramesh Bais, and was attended by over 400 exhibitors, with over 800 stalls, 250 international guests, and more than 10,000 visitors.
The glittering ceremony also coincided with IDT Gemological Laboratories Worldwide presenting the gems and jewellery sector’s most important networking evening, GJS Nite, on 30th September 2023. This event helped provide a platform for professionals and newcomers in the jewellery industry to network and build relationships with established industry leaders and experts. The sparkling GJS Nite also featured several glamorous celebrities like Soha Ali Khan, Saiee Manjrekar, Shazahn Padamse, Ridhima Pandit walking the ramp to showcase leading jewellery brands. The GJS Nite event highlighted trending jewellery items, which remained the topmost attraction of the event.
In a memorable occasion for innovative jewellers who have truly made a difference in the industry, GJC organized industry’s biggest award show, National Jewellery Awards (NJA) – to honour leaders of all sectors throughout the jewellery value chain. The 12th edition of NJA awarded several jewellery entrepreneurs across all categories to encourage recipients for a better future ahead.
Shri Saiyam Mehra, Chairman, GJC, and Convener, GJS stated, “With the successful organization of GJS Diwali Edition 2023, we are convinced that it has become the industry’s biggest and widest expo. Our premium B2B expo proudly involves all sectors of the industry and provides a platform to discover new designs and provide better reach to exhibitors and visitors.
GJS has generated a business of 25 tonnes in gold jewellery and an overall business of Rs 18000 crores which includes Couture, Loose stones, Diamonds, and Machinery section.
We thank all the guests for visiting and exhibiting in our Diwali Edition and we urge the industry players to be a part of our upcoming editions. We also thank our sponsors, partners, delegates, and associates who cooperated with us to make the GJS Diwali Edition such a remarkable event. It was a wonderful experience for all of us.”
Shri Rajesh Rokde, Vice-Chairman, GJC, and Co-Convener, GJS said, “GJS is appreciated and encouraged for its role in stimulating networking and business growth. Nurturing creativity and craftsmanship, and providing networking opportunities,is the core objective of GJS. We heartily thank all our visitors and exhibitors for being a part of and making the GJS Diwali Edition a success.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
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