The 4th edition of the International Gem & Jewellery Show (IGJS)

 The 4th edition of the International 

Gem & Jewellery Show (IGJS)

The 4th edition of the International Gem & Jewellery Show (IGJS)

Dubai commenced today, hosted by the Gem & Jewellery Export Promotion Council (GJEPC) of

India. This exclusive event, co-sponsored by Suntech Business Solutions and supported by the

Dubai Gold & Jewellery Group, brings together the finest of Indian gems and jewellery,

reinforcing India's position as a premier destination for global buyers.

The inauguration ceremony of IGJS Dubai 2024 was graced by esteemed dignitaries, including

Mr. Satish Kumar Sivan, Consul General of India, Dubai; Mr. Kirit Bhansali, Vice Chairman of

GJEPC; Mr. Chandu Siroya, Vice Chairman of the Dubai Gold & Jewellery Group; Mr. Tamjid

Abdullah, Group Deputy CEO, Jawhara Jewellery, UAE; Mr. KP Abdul Salam, Vice-Chairman,

Malabar Gold & Diamonds; and Mr. Ramesh Vora, GJEPC Middle East Coordinators; Mr. Nirav

Bhansali, Convener of National Exhibitions at GJEPC; and Mr. Sabyasachi Ray, Executive Director

of GJEPC. Their presence underscored the significance of this event and highlighted the

collaborative spirit driving the gem and jewellery industry between India and the UAE.

Mr. Satish Kumar Sivan, Consul General of India, Dubai, said, “The gem and jewellery sector is

a key focus for both the UAE and India as they aim to significantly boost their non-oil trade. The

two nations are working towards a goal of reaching $100 billion in bilateral non-oil trade. This

progress has been made possible by the dynamic growth of the gem and jewellery trade in

2023-24, which accounted for USD 28 billion and emerged as the most traded commodity

between India and the UAE during this period. It is encouraging to witness the impressive

growth of India’s gem and jewellery exports to the UAE following the India-UAE CEPA. In 2023-

24, India's exports in this sector surged by 40%, reaching USD 8 billion.

Mr. Chandu Siroya, Vice Chairman of the Dubai Gold & Jewellery Group, said, “The UAE and

India must leverage the CEPA pact—the IGJS show represents the best of both worlds. Dubai

stands as the ultimate jewellery distribution destination, while India boasts competitive

production capabilities. This partnership is set for success, fueled by Dubai’s favorable laws and

ease of doing business. As we enter the festive season, the mood for buying jewellery is at an

all-time high.”

In his welcome address, Mr. Kirit Bhansali, Vice Chairman of GJEPC, expressed his delight at the

show's growth, stating, “IGJS Dubai has become a cornerstone event for the region,

strengthened by the India-UAE CEPA agreement, which has opened doors to deeper

partnerships and new growth opportunities. In 2023, India’s jewellery exports to the UAE

reached USD 8 billion, with plain gold jewellery exports surging by 102% and studded jewellery

by 25%. We are also witnessing rising demand from key Middle Eastern markets such as Saudi

Arabia, Bahrain, Kuwait, and Oman. IGJS Dubai has played a pivotal role in fulfilling the evolving

needs of these markets.”

The event features 30 leading manufacturers showcasing stunning diamond-studded,

gemstone-studded, and gold jewellery, attracting over 300 international buyers from the UAE,

Saudi Arabia, Qatar, and Kuwait, UK, USA, Africa, and Russia, enhancing the global reach of

this prestigious show.

Kirit Bhansali further added, “As you all know, the global gem and jewellery industry is

currently facing challenges, with reduced demand in key consuming markets like the USA and

China. It is pertinent for global stakeholders across the supply chain to make concerted efforts

to increase the demand for jewellery as a product category. India, as the key player in the mid-

stream segment, is taking steps to boost demand across key regions. We are collaborating with

De Beers and Natural Diamond Council for the generic promotion of diamonds and diamond

jewellery, and partnering with the World Gold Council to drive demand for gold jewellery.

These efforts are essential to ensuring we capture a fair share of consumer spending in the

competitive luxury market.”

Mr. Nirav Bhansali acknowledged the UAE’s importance, driven by its growing consumer base

and flourishing tourism sector, which is fast becoming a major hub for jewellery sales. He also

noted key regional initiatives like Saudi Arabia’s Vision 2030 and Qatar’s Tourism Strategy 2030,

which will significantly boost market demand.

"India’s unmatched expertise in jewellery craftsmanship, combined with the UAE’s thriving

market, ensures that together we can meet the ever-growing demand for high-quality, ethically

made jewellery in the region and beyond,” said Mr. Nirav Bhansali.

To strengthen its trade ties with the UAE, GJEPC has set up the India Jewellery Exposition (IJEX)

in Dubai, a dedicated B2B platform that enables GJEPC members to display their products and

receive orders from UAE buyers all year round. Additionally, the Council organizes 20 India

Pavilions across trade fairs around the year.