IJSF is the world’s biggest jewellery festival : Dinesh Jain, GJC Director and IJSF Convenor

Most of my Jewellery I bought from Hyderabad and Tamil Nadu: Shruti Hasan, Film Star and Brand Ambassador for IJSF
Jewellery worn by characters in movies play a very important role in sstorytelling: Shruti Hasan
Gold Industry contributes 7% to the GDP of the Nation: Dinesh Jain
60% of gold and jewellery sales come from South India: Manoj Jha, Joint Convenor of IJSF
50% gold sale happens in India because of marriages: Gold Industry Insider
Coming January and February are going to be the biggest marriage season after COVID: Manoj Jha

IJSF–India Jewellery Shopping Festival 2023 roadshow held at Park Hyatt in Banjara Hills in Hyderabad on Monday.  Shruti Hasan, a well-known actress who is its brand ambassador graced the occasion.

Speaking on the occasion Shruti Hasan said I like temple jewellery, simple and traditional jewellery.  I bought most of my jewellery from Hyderabad and Tamil Nadu. I am not obsessed with Gold.  I bought a lot of pearls from Hyderabad.  I don’t follow trends, but I prefer such jewellery which should help carry energy.   I prefer to choose what I like the most.  I like Temple, Kundan, Jewellery and pearls, she said. 

Now millennials too are referring to adding gold, and diamond jewellery to their portfolio, Shruti added.

My first memory of Jewellery was when I was six years old, a set of eearrings in the shape of number six was presented to me by my parents.  But, one day I lost one while swimming, one ring.  I searched for it for half an hour later I found it, and she recalled her fond memories of gold.  

The Jewellery worn by a character in films reveals the region where the character comes from.  Jewellery used by characters in movies plays an important role in storytelling.

Gold is one commodity whose value continued and increased from ancient days to the current scenario, Shruti said. 

Replying to a question, about what she prefers to travelling or buying gold, if she has money, Shruti said that she prefers to buy gold.  I travel a lot for films.  So, I prefer buying gold if I have money.   

IJSF is a 37-day long Celebration of Gold organised across India from October 15 to November 22.  It is a gold-buying festival. It is pan Indian event.  Nearly 1500 Jewellers are participating in the festival. About 15 are participating from Hyderabad.  And these 15 include Krishna Jewellers Pearls, P. Satyanarayan & Sons, Pavan Mor Jewellers, Sri Sai Krishna Jewellers, Suraj Bhan Babulal & Company; Tibarumal Gems, Tibarumals Jewellers, Lalchand Hastimal Jewellers, Manepally Jewellers, Sree Panna Jewellers, Sri Jagdamba Pearls and Sr Ranka Jewellers.

The festival is the initiative of GJC, All IIndia Gem and Jewellery Domestic Council, a national trade body established to address the industry.

During the festival on purchase of every Rs 25000/- worth of Jewellery a coupon is given and an assured limited edition silver coin will have the image of the new parliament of India. This image is used to celebrate Aajadi ka Amrit Mahotsav.   It will disburse up to 50 kilos of gold; 500 kilos of silver and prizes worth Rs 5 crore to the end consumer.  This is the most transport process handled by a reputed agency.  Only hallmark jewellery is sold.  Only ethical business practices and best business practices are encouraged.  Every purchase has to be supported by a valid GST bill, informed Dinesh Jain while addressing a press conference. 

IJSF 2023 is unlike any other shopping festival that the country has seen before, declared Manoj Jha, the Joint Convenor of IJSF.  It is helping retailers to generate more business. The gold is normally purchased for marriages.  50% of gold business happens because of marriage.  The festival democratised the process as Big and Small Jewellers have come on the same level. The entire jewellery industry is united because of the festival.  It ensured unity among them.   We are likely to see a 30% increase in the overall business during the festival. She normally suffers whenever gold prices plummet, but, due to the festival the industry is witnessing brisk activity, he said.

Speaking further Manoj said, that millennials have realised the importance of adding Gold, Diamonds, and Platinum to their portfolio.  The festival is going to be an annual feature. South India is a major market for Gold and Jewellery.  Nearly 60% of sales come from the south and 50% from the rest of India, he said.  We want to make the Jewellery Industry transparent and this festival is helping us, he added. 

Speaking about Lab Grown Diamonds, he said the market needs all varieties.  There are takers of Lab-grown diamonds as well as natural diamonds.  Our big catch is 4 crore NRIs. We want them to buy jewellery whenever they visit India.  The government is also helping by offering a GST refund at the airport, added Dinesh.

January and February are going to witness many marriages across India.  Post Covid, this is going to be the biggest marriage season and we all are keeping our fingers crossed for good business.  

Click here for Photogallery