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The India International Jewellery Show (IIJS) Signature will be able to generate business worth Rs 30,000-35,000 crore this year, Gem & Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah said on Saturday.
Speaking at the first day of IIJS Signature, he said the council is hopeful that all its 2025-26 Budget expectations will be met, including the demand for budgetary allocation for consumer education, among others.
Earlier, Maharashtra Minister for Tourism and Skill Development and Entrepreneurship Mangal Prasad Lodha, along with Shah and other industry stalwarts, inaugurated one of the world's largest gem and jewellery B2B show IIJS Signature 2025 at the Jio World Convention Centre here.
The same show will also be hosted at another venue Bombay Exhibition Centre, Nesco Grounds in the western Goregaon Suburb from Sunday.
The show will have 3,400 stalls and over 1,700 exhibitors, along with international buyers from some 60 countries.
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"Normally, we expect business from this IIJS Signature Show to the tune of around Rs 30,000-35,000 crore... because a lot of jewellers and retailers carry huge amounts of inventories... We are pretty confident that they will achieve this kind of revenues," Shah said.
Terming IIJS Signature 2025 as a "trendsetter" for 2025, he said this year the Council has come up with new innovative ideas and a particular theme that has been given to all retailers.
He said the council recently held a pre-Budget meeting with Prime Minister Narendra Modi and said the government's decision to reduce the duty fee on gold and silver among others in the last Budget would bring a boom in the retail business in the next couple of years.
"We are seeing more than 3,000 retail stores coming up in the next two years. We are seeing a lot of FDI coming into the gem and jewellery sector reflecting confidence in the industry," Shah added.
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