The India Jewellery Shopping Festival (IJSF) will take place in Hyderabad from October 12 to 17. The event is organized by the All India Gem & Jewellery Domestic Council (GJC), with IDT Gemmological Laboratories Worldwide and Divine Solitaries as the title and powered by sponsors.
The B2C scheme will run from October 12 to November 17, while the B2B scheme will take place from June 1 to October 31. IJSF aims to promote India’s art heritage and culture by showcasing and auctioning the best jewelry pieces for CSR activities and supporting the industry in increasing sales. The festival’s goal is to make India a global destination for jewelry shopping.
Manoj Jha, Joint Convenor of GJC, said that they were launching several schemes to increase participation, including a prize of 1kg of gold and a periodic prize of 25 grams of gold. Consumers will receive one coupon on the purchase of Rs 25,000. The entire program is digitally driven and fully transparent, promoting digital India for both jewelers and consumers.
Jha also stated that the fully digitalized initiative is expected to generate sales of Rs 12,000 crore worth of jewelry during B2C, with over 2.4 million consumers involved. They expect foreign currency revenue worth Rs 3000 crore. GJC plans to promote this initiative using 40% of revenue receipts, while consumers will use 38%. The jewelry value chain will contribute over Rs 100 crore for this initiative.
