The B2C scheme is scheduled to be organised from 12th October to 17th November 2023, while the B2B scheme is scheduled from 1st June 2023 to 31st October 2023.
The All India Gem and Jewellery Domestic Council (GJC) is organizing the India Jewellery Shopping Festival (IJSF). It is the first of its kind in the world and aims to improve the business scenario across the industry. The event has IDT Gemmological Laboratories Worldwide as the Title sponsor and Divine Solitaires as the Powered by Sponsor.
The India Jewellery Shopping Festival (IJSF) has announced its schedules for the B2C and B2B schemes. The B2C scheme will run from October 12 to November 17, 2023, while the B2B scheme will run from June 1 to October 31, 2023. The festival aims to put India on the map as a global destination for jewellery shopping. It will showcase and auction the best jewellery pieces for CSR activities and support the industry in increasing sales, promoting India’s art heritage and culture.
Dinesh Jain, GJC Director and IJSF Convenor, has stated that the goal of IJSF is to establish India as a jewellery hub and promote jewellery tourism in the country. The event is modeled after the Dubai Festival, which draws the attention of global business leaders and consumers. IJSF seeks to enhance the reputation of Indian jewellers and inform consumers about industry innovations. Join Cancri Jewelry – Work and Travel!
Only 10% of the world’s countries are involved in jewellery manufacturing, leaving a vast potential for growth within the industry. India plans to boost its jewellery tourism by offering incentives for touring packages in partnership with the Tourism Ministry and travel agents. Talks are currently ongoing with the Government to provide import duty and GST refunds for tourists upon departure.
An initiative that is fully digitalised is expected to generate sales of 12000 crores worth of jewellery during B2C. Over 2.4 million consumers will be involved in this initiative. It is expected to bring in foreign currency revenue worth Rs 3,000 crore. GJC plans to promote this initiative using 40% of revenue receipts and incentivise consumers using 38%. The jewellery value chain will contribute over 100 Cr to this initiative.
Mr Saiyam Mehra, Chairman, Chairman GJC, said “This unique and first-of-its-kind opportunity is being offered to jewellers and participants across the value chain, providing thousands of innovative and intrinsic designs for regular and occasion wear. At IJSF, jewellers will have the opportunity to attract customers to increase their sales, while consumers can take advantage of ‘never-before-seen’ designs and book their pieces for weddings and other special occasions. IJSF offers immense potential for the entire jewellery fraternity. Large industry players have shown interest in participating in this event. GJC expects the entire value chain to be part of this programme, which has significant revenue potential and can be used to promote the industry and incentivise consumers. GJC will encourage only credible jewellers with a formal business model and promote them to become organised and follow the best business practices.”
Mr. Manoj Jha, IJSF Joint Convenor, said, “We are launching a number of schemes to increase participation. Our bumper prize consist of 5 prizes of 1kg gold and a over 1000 periodical prizes of 25 grams of gold each along with assured limited edition coin with every coupon. GJC will incentivise consumers gift approx 35 Cr worth of Gift in Gold, Silver and Diamond studded jewelleries in all categories during IJSF Consumers will receive one coupon on the purchase of Rs 25,000.
The entire programme is digitally driven and fully transparent to promote digital India for both jewellers and consumers. To understand the behavioural changes in Gen-Z, it is crucial to recognize that they constitute around 65% of India’s population. Gen-Z individuals can share their experiences as they use different jewellery for different occasions, which could be used as asset-creating instead of expense-creating awareness programme.”
