The 34th edition of the India International Jewellery Show (IIJS), kicked off in Mumbai on Thursday, with retailers crowding to restock on gold jewellery, a category that has been a sell-out ever since the introduction of the country’s new Goods and Services Tax (GST).
Visitor traffic was much slower in the loose diamond and gemstone sections, but exhibitors were nonetheless optimistic, expecting better footfalls over the next few days.
Brands such as De Beers’ Forevermark are a prominent presence, with Chief Executive Stephen Lussier recently saying he expects India push the US aside to become the brand’s second largest market after China.
The show, in a new and expanded format that features 2,200 exhibitors, has a lot riding on it for the Indian gem and jewellery industry, with lacklustre demand from the US and the reported rebound in the Chinese market yet to make its presence felt in the production pipeline here.
https://www.gemkonnect.com/news/rush-gold-jewellery-iijs-kicks-post-gst-environment