Industry witnessed around 25 to 30% sales growth.
All India Gem & Jewellery Domestic Council (GJC), the national apex body of the domestic gems and jewellery industry is proud to announce positive sales during festive season of Dhanteras and Diwali.The glittering festivities were complemented by India Jewellery Shopping Festival (IJSF), scheduled from 15th October to 22nd November 2023 has captivated the hearts of the customers and enhanced the joy of the celebrations.
This year’s sales surge is a testament to the timeless allure of innovation, crafted with precision and passion. This year also saw a spike in young customers footfalls are up by 45% to 60%, driving major sales in Diamond and Platinum based jewellery. The Gold imports in September stood at around 80 tonnes gross this year, while silver at 500 tonnes.
Mr. Saiyam Mehra, Chairman GJC, Said, “The Dhanteras was very auspicious for the Gems & Jewellery Industry. Sales of approx. 25 tonnes of Gold was witnessed with an estimated revenue of Rs 25,000 crores, which includes silver coins, jewellery and artifacts, Labgrown diamonds, Gemstones etc. GJC’s initiative India Jewellery Shopping Festival (IJSF) has also helped in generating higher demand at the retail counters this year. This also shows India’s undying love of gold and with such good response, we as an industry are confident to play a bigger role in development of the nation.”
Mr. Rajesh Rokde, Vice Chairman, GJC Said, “The Dhanteras and Diwali has bought back the confidence amongst the jewellers. The gold prices have also helped in generating the demand and overall, we have witnessed 25% to 30% increase in sales as compared to last year. GJC’s India Jewellery Shopping Festival (IJSF) has encouraged positive business for retailers and even the end customers are excited to win prizes, which are worth crores of rupees. The outlook of upcoming wedding season looks promising, and we are confident that jewellers will take good benefit from it.”
