The organisers of India International Gems and Jewellery Exhibition (IIJS) Premiere 2023 expect 30 to 40 per cent more business this year compared to last year’s Rs 50,000 crore, said Gems and Jewellery Export Promotion Council (GJEPC) national Chairman Vipul Shah Thursday.

“With the current trend of a 30 per cent rise in visitor footfalls, we are optimistic about achieving at least 30 per cent to 40 per cent growth in business. Additionally, the market conditions are favourable with stable gold prices and a robust economic growth in India and the surrounding regions like the Middle East. After some initial challenges, the market has stabilised,” he said. He sounded optimistic that the current exhibition, inaugurated at the Jio World Convention Centre (JWCC) on Thursday, will break all records of the past in terms of doing business. “This will be our most successful show till date,” he added. Over 2,000 international buyers and delegates across 65 nations are expected to attend the exhibition.

The show is held concurrently at JWCC and Bombay Exhibition Centre (BEC). The exhibition at JWCC began on August 3 and will culminate on August 7, while that at BEC will start Friday and will go on till August 8.  “The geopolitical situation has affected exports. GJEPC is proactively working  to identify new markets. The Gems and Jewellery Show in Hong Kong in September will give a boost,” Shah told The Indian Express.