GJEPC aims for 20% export boost to UAE with IGJS Dubai 2024  

The ongoing event presents itself as a networking opportunity to around 300+ Middle East based retailers, exploring potential of fostering symbiotic relationships 

Dubai – The 4th edition of the International Gem & Jewellery Show (IGJS) Dubai, hosted by the Gem & Jewellery Export Promotion Council (GJEPC) of India, launched today, aiming to enhance India’s gem and jewellery exports to the UAE by 20% in FY 2024-25. Co-sponsored by Suntech Business Solutions and supported by the Dubai Gold & Jewellery Group (DGJG), the event showcases the finest Indian gems and jewellery, solidifying India’s reputation as a global hub for buyers. 

The inauguration featured dignitaries including Mr. Satish Kumar Sivan, Consul General of India in Dubai; Mr. Kirit Bhansali, Vice Chairman of GJEPC; and Mr. Chandu Siroya, Vice Chairman of the DGJG, among others. 

Mr. Sivan emphasized the importance of the gem and jewellery sector for both India and the UAE, highlighting the aim to reach $100 billion in bilateral non-oil trade. He noted that the gem and jewellery trade accounted for USD 28 billion in 2023-24, making it the most traded commodity between the two nations, with Indian exports in this sector surging 40% to USD 8 billion. 

Mr. Siroya pointed out the advantages of leveraging the India-UAE Comprehensive Economic Partnership Agreement (CEPA), asserting that Dubai is a prime destination for jewellery distribution, complemented by India’s competitive production capabilities. 

Mr. Bhansali expressed pride in the growth of IGJS Dubai, stating it has become essential for fostering deeper partnerships in the region. He highlighted the impressive export figures from India, noting a 102% increase in plain gold jewellery exports and a 25% rise in studded jewellery exports in 2023. 

The event features 30 leading manufacturers showcasing a wide variety of products consisting of an impressive design mix, attracting over 300 international buyers from regions including the UAE, Saudi Arabia, Qatar, and beyond. 

Acknowledging the global challenges faced by the jewellery industry, Mr. Bhansali called for collaboration across the supply chain to stimulate demand. He noted GJEPC’s partnerships with De Beers and the World Gold Council to promote diamonds and gold jewellery. 

Mr. Nirav Bhansali highlighted the UAE’s potential as a jewellery sales hub, driven by its growing consumer base and tourism sector, and referenced regional initiatives like Saudi Arabia’s Vision 2030. 

To bolster trade relations, GJEPC has established the India Jewellery Exposition (IJEX) in Dubai, a B2B platform for year-round product displays and orders, alongside organizing 20 India Pavilions at various trade fairs throughout the year. 
 

Retail Jeweller ME News