Collection Pan Arab Luxury Magazine
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The glittering city of Dubai hosted the 4th edition of the International Gem & Jewellery Show (IGJS) on October 8, 2024.
Organized by the Gem & Jewellery Export Promotion Council (GJEPC) of India, this exclusive exhibition is a key event in the international luxury jewellery calendar.
The inauguration of IGJS Dubai 2024 featured an illustrious lineup of dignitaries, including Mr. Satish Kumar Sivan, Consul General of India, Dubai, and Mr. Kirit Bhansali, Vice Chairman of GJEPC, among others. The event focused on the crucial role of India-UAE collaboration, particularly through the Comprehensive Economic Partnership Agreement (CEPA). As Mr. Sivan highlighted, this bilateral trade has grown exponentially, with India’s gem and jewellery exports to the UAE surging by 40% in 2023-24, reaching $8 billion. Gems and jewellery have become the most traded commodity between the two nations, setting a solid foundation for future growth.
IGJS Dubai 2024 has attracted over 300 international buyers, with 30 top-tier manufacturers displaying a stunning array of diamond, gemstone-studded, and gold jewellery. Visitors from across the Middle East, Africa, Russia, the UK, and the USA have gathered to explore the finest offerings from India’s premier jewellery houses. The show not only strengthens existing ties with the UAE but also taps into emerging markets such as Saudi Arabia, Kuwait, and Bahrain, which have shown increasing demand for luxury jewellery.
In his address, Mr. Kirit Bhansali emphasized the strategic importance of the event, particularly in light of challenging global market conditions. With reduced demand in key markets like the USA and China, India is stepping up its efforts to drive demand for jewellery across multiple regions. Partnerships with De Beers, the Natural Diamond Council, and the World Gold Council will be crucial in positioning diamonds and gold as must-have luxury items, securing a fair share of consumer spending.
As the luxury jewellery industry navigates a changing global landscape, events like IGJS Dubai offer a crucial platform for fostering international partnerships. With India’s unmatched craftsmanship and Dubai’s vibrant market, the show promises to elevate the global stature of Indian gems and jewellery.
Looking ahead, the efforts of GJEPC to engage with Middle Eastern markets, supported by the India-UAE CEPA, highlight the potential for continued growth. As the demand of the region for high-quality, ethically produced jewellery increases, India is well-positioned to meet these expectations, driving a new era of trade success.
