IIJS Virtual 2.0 kicks off with hopes of a fast track to recovery

By

Isabelle Crossley

Published
Jan 11, 2021

The India International Jewellery Show kicked off on January 8, sparking hopes of a fast track to recovery. IIJS Virtual 2.0 runs online until January 12, with over 8,000 registered buyers from countries around the world.

“The first edition of IIJS Virtual saw a record 10,000+ visitors and we reported a business turnover of around Rs 1,000 crore,” the GJEPC’s chairman, Colin Shah, said at the event’s virtual inauguration ceremony, the GJEPC reported on its website.

“This surely has set a benchmark for us and our expectations from the second edition are high and we expect it to surpass the business generated in the first edition.”

Along with over 250 exhibitors, IIJS Virtual 2.0 features a Knowledge Forum series designed to shed light on new industry trends. Founder of The Futurist Ltd, Paola de Luca joined the GJEPC’s director for promotions, marketing, and business development Dolly Choudhary for a talk on ‘Consumer Trends & Industry Innovation’. De Luca shared that upcoming industry trends include an increased link between jewellery and human connection, greater inclusivity in design, and lightweight collectibles. 
 
“The New Year has brought in good news on many fronts- several vaccines are making their way across the globe and have already started saving lives,” said Shah, sharing a positive sentiment.

“On the business front, demand for gems and jewellery picking up in all major export markets.  Jewellery was the highest selling luxury product in China in 2020 and the Thanksgiving Day spending in the U.S. rose by nearly 22% year-over-year to $5.1 billion, hitting a new record, which goes to prove that jewellery is strongly linked to the emotional connect of buyers.”
 
India’s gem and jewellery exports reached pre-Covid levels around December, said Shah.

“I am sure that couple of months down the line, we will see more stable economic activities across the world which will further boost the gem and jewellery sector’s growth.”