Editor’s Note
India’s gem and jewelry industry, long centered in Mumbai, is expanding its footprint. Following the rise of hubs like Surat, a new jewelry park is now planned for Karnataka, signaling the sector’s strategic growth into southern India.
When it comes to gems and jewelry, Mumbai has traditionally been the leader. Now, Surat in Gujarat and some other cities are emerging as gems and jewelry hubs. This expansion will now reach the southern Indian state of Karnataka. A Memorandum of Understanding (MoU) has been signed between the Gem & Jewellery Export Promotion Council (GJEPC) and the Bengaluru Jewellers Association to establish a jewelry park in Karnataka. The signing took place during the ongoing India International Jewellery Show in Bengaluru.
To foster rapid growth in the gems and jewelry sector and increase exports from the country, the central government established the Gem & Jewellery Export Promotion Council (GJEPC). It operates under the Ministry of Commerce and Industry. The GJEPC organized the second edition of the India International Jewellery Show (IIJS) Triteeya from April 5 to 8, 2024, at the Bangalore International Exhibition Centre (BIEC). Alongside IIJS Triteeya, the India Gem & Jewellery Machinery Expo (IGJME) was held for the first time. It showcased world-class technology, including tools and techniques related to digital technology.
The main objective of IIJS Triteeya is to display an extensive range of gold jewelry collections, reflecting the rich heritage and craftsmanship of India’s jewelry industry. It is an exceptional platform that brings renowned jewelry manufacturers, retailers, wholesalers, and industry professionals under one roof.
During the inauguration of this jewelry show, IIJS Triteeya was welcomed by distinguished dignitaries as the ‘Gateway to Global Gem and Jewellery Exports’. The inauguration ceremony was attended by Dr. Selvakumar (IAS), Principal Secretary of the Department of Industries and Commerce, Government of Karnataka; B. Govindan, Chairman of Bhima Jewellery; Vinod Hayagriv, MD and Director of C. Krishniah Chetty Group; Vipul Shah, Chairman of GJEPC; Chetan Kumar Mehta, President of Jewellers Association Bengaluru; and other dignitaries.
On this occasion, GJEPC Chairman Vipul Shah and Jewellers Association Bengaluru President Chetan Kumar Mehta signed a Memorandum of Understanding. Under this, efforts will be made to promote gem and jewelry exports from the state through a series of initiatives to be launched by GJEPC, including the Karnataka Jewelry Park. Notably, this year’s IIJS Triteeya is more extensive, smarter, and better than last year, featuring over 900 exhibitors and 1,900 stalls across 40,000 square meters. It acts as a massive marketplace, providing crucial opportunities for players in this industry to connect, collaborate, and thrive. It includes over 15,000 pre-registered delegates from more than 500 Indian cities and 60 countries.
According to data from the Gem & Jewellery Export Promotion Council, exports of gems and jewelry in February this year were $3046.84 million (Rs 25,274.640 crore), which is 12.66 percent lower than the same month a year ago. In the same month last year, gem and jewelry exports were $3488.51 million. However, exports of gold jewelry saw a 16.43 percent increase in the same month. In February, gold jewelry exports were $821.55 million.