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The Gems and Jewellery Export Promotion Council unveiled India Jewellery Exposition 2023 ( IJEX 2023), the first of its kind jewellery exposition centre in Dubai. IJEX 2023 is a Global Business Touchpoint, especially for GJEPC members to connect with international buyers. The centre was inaugurated by Rajesh kumar singh, Secretary DPIIT, and Sunjay Sudhir in the presence of Kirit Bhansali Vice chairman GJEPC, Juma Al Kait , Assistant Undersecretary – Foreign Trade Affairs at Ministry of Economy, UAE, Srikar reddy, Joint secretary , Dept of commerce. Gem Jewellery Export Promotion Council (GJEPC) is India’s Apex body supported by the ministry of commerce and industry.
To celebrate the first anniversary of the India- UAE CEPA, GJEPC has launched the first-ever exhibition at IJEX in Dubai. IJEX is a year round exhibition located opposite the Gold Souk in Deira Dubai. The GJEPC, with the support of the Ministry of Commerce & Industry, has taken this drive to establish this centre as a much-needed avenue for MSME jewellers to exhibit their products on a continuous basis in the Middle East market.IJEX is a one-stop destination for the world to source Indian jewellery in Dubai. The platform will enable GJEPC members to display goods and book orders throughout the year. The 365-day exhibition will promote specific categories of ‘Made in India’ gems and jewellery,IJEX aims to generate business by bringing together buyers and manufacturers from various regions, including the Middle East market, North Africa, CIS countries, and beyond. The facility allots ten cubicles on a first-come, first-serve basis for three months. IJEX 2023 had eight out of ten cubicles occupied by business houses. Transguard group provides logistics services in setting up the expo.
The inauguration of IJEX was followed by a multi-sectoral event , commemorating one year of India- UAE CEPA, organised by the Gems and Jewellery Export Promotion Council in dubai , where around 100 companies from India and UAE, including representatives of various Export Promotion Councils (EPCs) participated. Speaking on the occasion Srikar reddy said that govt of India has taken decision to organise reverse buyer seller meets in Dubai, earlier this was only allowed to be in held in India only, considering the importance accorded to UAE and the success of CEPA.Ambassador Sunjay Sudhir reiterated that the concept CEPA is always beyond trade, people to people contacts, software, promotion of Bollywood, tourism are integral to CEPA he cited IIFA Awards in two successive years in UAE as an example. Juma Al Kait gave the detailed statistics of the year on year trade increase with India and UAE, after CEPA.
India is the leader in cut & polished diamonds, with 14 out of 15 diamonds set in jewellery worldwide being processed in India. It is the 4th largest exporter of gold jewellery, the 2nd largest exporter of silver jewellery, and the fastest emerging lab-grown diamond manufacturer in the world. The industry currently employs over 5 million workers. To meet the ever-increasing demand for gems and jewellery, India is taking a series of steps that include the establishment of a Gem Bourse in Jaipur, a Jewellery Park, and a Mega Common Facility Centre in Mumbai.
Exports from India to UAE registered a multi-year high, increasing from 28 billion US$ to 31.3 billion US$ during the April-March period, an increase of around 3.3 billion US$ or 11.8% year on year growth. The Gems & Jewellery sector is among the industries that have gained remarkably from CEPA. India’s exports in this sector witnessed an impressive growth of 16.5% in 2022-23. UAE has accounted for 80% of India’s plain gold jewellery exports. However, post CEPA, all the verticals of the gem and jewellery industry, including diamonds, studded gold jewellery, silver jewellery, and colored gemstones, witnessed impressive growth in their export figures to the UAE.