JB Insights
Jewelbuzz Spotlight : Interview With Nirav Bhansali
IIJS Tritiya represents a strategic move to capitalize on the significant potential of the South Indian market, particularly leading up to the auspicious festival of Akshaya Tritiya
IIJS Tritiya represents a strategic move to capitalize on the significant potential of the South Indian market, particularly leading up to the auspicious festival of Akshaya Tritiya
Nirav Bhansali
IIJS Tritiya, the third exhibition under the IIJS banner, stands out as an exceptional platform in South India that brings together renowned jewellery manufacturers, retailers, wholesalers, and industry professionals under one roof. It showcases an extensive range of gold jewellery collections that reflect the rich heritage and craftsmanship of India’s jewellery industry.Nirav Bhansali- Convener, National Exhibitions-GJEPC speaks to JewelBuzz on what to expect from IIJS Tritiya 2024 including exciting, innovative features.
What’s in store at IIJS Tritiya 2024?
This is the second edition of IIJS Tritiya, a novel platform for the gem and jewellery industry that showcases the latest collections and innovations especially to the southern half of the country. The show is a strategic initiative to tap into the huge potential of the South Indian market, especially in the run-up to the auspicious festival of Akshaya Tritiya. We are confident that this show will provide a boost to the trade and create new opportunities for growth and collaboration.
Provide details of number of exhibitors, stalls, number of visitors expected (breakup of domestic and international visitors), total exhibition area etc.
There are over 900+ exhibitors and 1900+ stalls spanning 40,000sqm of exhibition area. More than 15000 trade visitors from 500+ cities in India and 60+ countries are expected.
Any new, innovative, unique aspects in this year’s IIJS Tritiya?
The India Gem & Jewellery Machinery Expo (IGJME) for the first time is concurrently held with IIJS Tritiya. The platform will showcase the latest and the best of National & international machineries.
Other features of IIJS Tritiya:
- Innov8 Talks (Seminar Series): Providing insights and expertise.
- Fashion Show on 5th April for the Retailers
- Prime Lounge (VIP Only): Offering exclusive services.
- Elite Coffee Shop (VIP Only): A premium refreshment experience.
- Digital Badges on Mobile: Streamlining entry and exit processes
- Face Recognition process introduce for further convenience.
- IIJS App: Providing real-time updates and assistance.
- Buggy Service: Ensuring swift mobility inside the venue.
Additionally, this year introduces the ‘World of GJEPC’ zone, showcasing the Council’s diverse offerings and highlighting its comprehensive support to the industry, extending beyond IIJS exhibitions.”
Please give details of IIJS Tritiya Visitor Campaign across India and in international markets.
The IIJS Tritiya Visitor Campaign achieved extensive outreach by conducting door-to-door activities in 134 cities, resulting in registrations from visitors in 645 cities. Impressively, the campaign engaged with over 20,000 jewellery retail companies during these visits, demonstrating significant interest and participation for the show. We also have international visitor registration at the show which adds to the opportunity
Elections are being held in April; will they impact IIJS Tritiya?
GJEPC is proactively engaging with the regulatory bodies to ensure a seamless show. With clear Standard Operating Procedures (SOPs) in place, the show is poised to navigate potential challenges and deliver a positive experience for exhibitors and visitors alike.
What is your take on the current market sentiment and timing of IIJS Tritiya?
In terms of the current market sentiment and the timing of IIJS Tritiya, I believe the sentiment is positive. This event represents a strategic move to capitalize on the significant potential of the South Indian market, particularly leading up to the auspicious festival of Akshaya Tritiya. We are confident that the show will stimulate trade activity and foster fresh avenues for expansion and partnership within the industry.
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)Â 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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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.