JB Insights
Jaipur Jewellery Show 2023
JJS 2023 HIGHLIGHTS
- Over 50,000 visitors
- Around 1000 premium retailers
- 1100 exhibition booths
- 67% Designer Booths
- Exclusive B2B Traders Pavilion ‘Pink Club’
The 21st edition of the Jaipur Jewellery Show (JJS) was held from 22nd to 25th December, 2023 at the Novotel Jaipur Convention Centre, Jaipur. JJS 2023 was inaugurated by Deputy Chief Minister of Rajasthan, Diya Kumari. In her address she said jewellery industry is employment giver; providing a direct employment for 2 lakh persons. JJS concluded on 25 December 2023 with a Valedictory Ceremony; the Chief Guest on the occasion was Deputy Chief Minister of Rajasthan, Dr Prem Chand Bairwa.
Guest of Honour Vipul Shah, Chairman GJEPC said “2023 has been a challenging year for the gems and jewellery industry owing to the geopolitical concerns and economic downturn. However, the industry has bounced back and is experiencing a gradual but significant rise. The GJEPC and jewellers are jointly taking various initiatives such as the diamond bourse in Surat and the upcoming one in Jaipur to make India a key global hub in this sector.”
Pramod Derewala, Chairman of NGJCI said that the Gem & Jewellery industry of Jaipur is contributing towards the economy of the state as well as the country by way of foreign exchange earnings, tax revenue and employment generation.
In his welcome address, Chairman JJS, Vimal Chand Surana said that the Jaipur Royal family has been a huge supporter of the gems and jewellery industry in the city. The Jaipur Jewellery Show is an important and progressive show and it has grown from strength to strength over the years.
Saiyam Mehra, Chairman, GJC “There is an exceptional display of jewellery here and JJS is giving a tough fight to all international shows.”
Putting special focus on the gemstone ‘Emerald’, the theme for this year’s JJS was ‘Emerald… Your Stone Your Story’. To promote Emerald, a group of 15 members was formed as the Emerald Promotion Group with GEMFIELDS as the prime emerald promotion partner.
Visitors came source exquisite ornaments of emerald, gold, diamond, silver, coloured gemstones, kundan meena, polki, jadau, among others. While buyers come across the usual display of a wide variety of goods both in colour gemstones and diamonds – the metals, beads and carving were equally popular. At the same time, B2C – Consumers got an opportunity to see nearly 1000 plus booths displaying goods- they could simply pick and buy from a number of sellers.
Nearly 1000 top retailers of India participated in the show. These retailers visit the show every year on the invitation of JJS. Over 50 specially invited GJC members attended JJS.
A grand networking dinner was organised on the evening of the second day of JJS. This year’s brand ambassador of JJS and actress, Pooja Batra and Gemfields India Head, Gopal Kumar were also present at the event. Like its previous editions, JJS 2023 also witnessed encouraging business in terms of trade networking, exhibitors and participating members.
An exclusive B2B Traders Pavilion ‘Pink Club’, which was introduced at JJS 2022, was the main attraction at JJS. Only B2B customers were able to visit this pavilion for B2B interaction.
To celebrate and promote designers, JJS hosted Jaipur Jewellery Design Festival (JJDF) for the sixth time, this year with the theme ‘Go Tech & its effect on the Jewellery Industry’.
‘Taraash’ is a new and one-of-its-kind initiative that was kick started at JJS 2023. The objective is to contribute to the development of the start-up ecosystem, specifically for GJ industry. This is a joint initiative of JJS and TiE Rajasthan.
Indian Jewellery Design Awards-2023 took place on the first day of JJS. Film actor, Malaika Arora’s presence graced the evening at the awards.
Navrattan Kothari, Chairman, KGK Group, received the Lifetime Achievement Award for Outstanding contribution to gems and jewellery trade, particularly for his long innings in the diamond sector.
JJS 2024 will be held from 20th to 23rd December
JB Insights
India’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports
With An Estimated 32,000 Tonnes Of Gold Sitting Unused In Homes and Temples, The Government Sees A Massive Opportunity To Reduce Imports, Strengthen The Economy, and Build A More Sustainable Gold Ecosystem.
India is sitting on one of the world’s largest untapped gold reserves, with 30,000–32,000 tonnes of gold held by households and temple trusts across the country. Valued at nearly $3.8 trillion (around Rs. 361 lakh crore), much of this gold remains locked away in cupboards, lockers, and vaults, generating little economic value.
Highlighting the importance of this dormant asset, Prime Minister Narendra Modi recently encouraged citizens to consider recycling idle gold rather than relying solely on newly imported supplies. The initiative aims to bring existing gold back into circulation and make better use of resources already available within the country.
The appeal comes at a time when India continues to depend heavily on imported gold to meet domestic demand. During 2025-26, the country spent approximately $72.4 billion (Rs. 6.88 lakh crore) on gold imports, making the precious metal one of the largest contributors to the import bill.
According to experts, increasing gold recycling could deliver significant economic benefits. Every gram of recycled gold reduces the need for an equivalent amount of imports, helping ease pressure on foreign exchange reserves while also supporting efforts to narrow the country’s current account deficit.
Even a small shift could have a substantial impact. Industry estimates suggest that if just 1% of the gold held by households and temples is recycled each year, India’s gold imports could decline by approximately 25% to 30%.
The vast stockpile of idle gold is rooted in India’s longstanding cultural and financial relationship with the metal. For generations, gold has served as a store of wealth, a safeguard during emergencies, and a symbol of family security and prosperity. As a result, many families continue to hold jewellery that is rarely used but seldom sold.
Viewed from a broader perspective, the government sees this dormant gold stock as a valuable domestic resource. Bringing a greater share of it into the formal economy could help reduce dependence on imports, enhance economic stability, and create a more sustainable gold supply chain for the future.
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