08.08.2024 : Inauguration of the India International Jewellery Show Premier

Inauguration of the India International Jewellery Show Premier organised by the Gem & Jewellery Export Promotion Council at Jio World Convention Centre, Mumbai, 8 August 2024

Shri Mangal Prabhat Lodha, Hon’ble Minister of Skills, Employment, Entrepreneurship and Innovation

Shri Vipul Shah, Chairman, Gem & Jewellery Export Promotion Council

Shri Kirit Bhansali, Vice Chairman

Ms Manushi Chhillar, former Miss World and Brand Ambassador of Gem & Jewellery Export Promotion Council

Mr Paul Rowley, Executive Vice President, Diamond Trading ‘De Beers Group’

Shri Nirav Bhansali, Convener, National Exhibitions of the Council

Clients, Retailers, Exporters, Exhibitors from across various countries of the world and India

Ladies and Gentlemen, Good Morning

I touch and salute the holy feet of Bharath Mata, the most powerful and the most merciful.

As Governor of Maharashtra and as the First Citizen of this State, I extend my heartiest welcome to each one of you to the State of Maharashtra and to Mumbai, the financial capital of India.

I deem it an honour to address you all at the grand opening of the 40th edition of India International Jewellery Show Premiere, one of the most prestigious events in the gems and jewellery industry globally.

I was delighted to know from the organizers that over the years, the India International Jewellery Show has emerged as the 2nd largest Business to Business Jewellery Fair in the world, showcasing Diamond, Gold, Platinum, and Silver Jewellery along with loose Natural Diamonds, Gemstones, and Lab-grown diamonds.

I was amazed to know that 50,000 trade visitors, Business leaders, retailers and exporters have come to participate in the 5 – day Show from 80 countries and 800 cities of the world. This underscores the global significance of the Gem & Jewellery industry.

I congratulate the Gem & Jewellery Export Promotion Council and its most efficient Organizing Team for their dedicated work in putting up this grand show.

Ladies and gentlemen

Gems and Jewellery are a part of Indian mythology and culture.

It is also one of the oldest industries in India which still preserves the traditional arts and crafts. India had trade in Gem & Jewellery and precious stones with many countries of the world for several centuries.

Speaking about Gem & Jewellery industry we can certainly say: It is ‘Chir Puratan and Nitya Nutan’. Which means the industry is most ancient, and at the same time it is novel and innovative at every moment. This 5000 years old legacy industry is our real strength, and it is a symbol of our culture and tradition. It is a matter of great pride that the rich legacy of India in this sector has been retained and even enhanced, for which the credit goes to each one of you.

Today, the Indian Gem and Jewellery industry accounts for 7 per cent of India’s GDP. The Indian gem and jewellery industry has grown into a colossal $32 billion sector, contributing 10% to our country’s total merchandise exports. It employs around 5 million skilled and semi-skilled people. This phenomenal growth is a testament to the hard work, dedication and creativity of everyone involved in this industry.

Maharashtra, particularly Mumbai, plays a pivotal role in this success story. As the epicenter of the industry, Mumbai houses major gold and diamond companies, state-of-the-art factories, and cutting-edge units, especially in SEEPZ.

With around 70% of India’s gem and jewellery exports originating from Maharashtra, the state is a powerhouse in this sector.

The upcoming Jewellery Park in Navi Mumbai is set to be a transformative force for the gem and jewellery industry.

I am also delighted to see the incredible achievements of your industry, particularly with the establishment of Bharat Ratnam, the Mega Common Facility Centre (CFC) in Mumbai.

Under the leadership of Prime Minister Shri Narendra Modi ji, our country successfully hosted the G20 Summit, establishing ourselves as a strong nation, focused on cultural and economic development. India aspires to become the 3rd largest economic super power in the world. The nation is striving to become a 5 trillion dollar economy in the near future. Needless to say, the Gem and Jewellery industry has to play a significant role in achieving these cherished goal. You can contribute in a big way in transforming India into a Viksit Bharat by 2047 to fulfil vision of Hon’ble Prime Minister.

Ladies and gentlemen

In today’s world driven by brands, it is necessary for the Gem and Jewellery industry to create international brand of our own.

In recent years, many of our business leaders have created strong brands of Gem and Jewellery within the country.

We must now create our own international brands. This will require investment in innovation, precision and research. It will require harnessing technology and most importantly it will require investment in skilling and reskilling our craftsmen.

If you create a beautiful jewellery article, it will fetch you, say Rs.2 lakh or 3 lakh. But if you create a unique piece of art and give it a brand identity, it will fetch you at least 5 times or even 10 times more price. So, I appeal you to create, build and nurture ‘brand India’.

As Governor of Maharashtra, I am Chancellor of 28 state funded universities. We have about 4 million students pursuing higher and professional education. I would urge the Gem and Jewellery Export Promotion Council to work with our universities closely. Make our students innovators, entrepreneurs, skill them and make them stakeholders in the growth of the industry.

Thank you, and I wish everyone a successful and enriching experience at IIJS Premiere 2024.

Dhanyawad !
Jai Hind ! Jai Maharashtra !!