Page 48 - Diamond Digest :: May June 2023

GJC making India a Jewellery Tourism HUB for the world.
All India Gem and Jewellery Domestic Council (GJC), the apex trade body that unites manufacturers, wholesalers, retailers and exporters,announcedtodaythatitisorganising theIndiaJewelleryShoppingFestival(IJSF),the first its kind in the world, to uplift the business scenario across the industry. IDT Gemmological Laboratories Worldwide is the Title sponsor and Divine Solitaires is the Powered by Sponsor for this event.
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. IJSF aims to make India a global destination for jewellery shopping. The five- week-long festival aims to promote India’s art heritage,andculturebyshowcasingandauctioning thebestjewellerypiecesforCSRactivitiesand supporting the industry in increasing sales.
Mr Dinesh Jain, GJC Director & IJSF Convenor, said, “The objective of IJSF is to
develop jewellery tourism in India and make the country a jewellery hub. This event is similar to the Dubai Festival, which attracts lots of attention fromglobalbusinessleadersandconsumers.IJSF aimstobuildcredibilityforIndianjewellersand educate consumers about innovations.Out of approximately 200 countries in the world, approx. only 10% are involved in jewellery manufacturing, indicating vast scope within the industry itself. With the help of the Government, we will promote jewellery tourism in India by incentivising touring packages in association with the Tourism Ministry and travel agents. We are currently in discussions with the Government regarding import duty and GST refunds for tourists at the time of departure.
This fully digitalised initiative is expected to generatesaleof12000croresworthofjewellery during B2C and over 2.4 million consumers will be involved. We expect foreign currency revenue worth Rs 3,000 crore. GJC has planned to
48 • Diamond Digest • May - June • 2023