Hyderabad venue for India Jewellery Shopping Festival

Hyderabad: All India Gem & Jewellery Domestic Council (GJC) will be organising the India Jewellery Shopping Festival (IJSF) from October 12 to 17 in Hyderabad. IDT Gemmological Laboratories Worldwide is the Title sponsor and Divine solitaries being the powered by sponsor for this event.

Addressing media on Thursday, Manoj Jha, Joint Convenor said, the B2C scheme is scheduled to be organized from October 12 to November 17 while the B2B scheme is scheduled from June 1 to October 31. IJSF aims to make India a global destination for jewellery shopping. The five-week festival aims to promote India’s art heritage, culture by showcasing and auctioning the best jewellery pieces for CSR activities and supporting the industry in increasing sales.

He said they were launching a number of schemes to increase participation. They are launching a prize of 1kg of gold and a periodical prize of 25 gram of gold. Consumers will receive one coupon on the purchase of Rs 25,000 and the entire program is digitally driven and fully transparent to promote digital India for both the jewellers and consumers. To understand the behavioural changes in Gen-Z, it is crucial to recognize that they constitute around 65% of India’s population. He said terms and conditions in IJSF will be applicable and will be displaced on the website.

He also said the fully digitalized initiative is expected to generate sale of Rs 12,000 crore worth jewellery during B2C and over 2.4 million consumers will be involved. They expect foreign currency revenue worth Rs 3000 crore. GJC has planned to promote this initiative using 40% and consumers using 38% of the revenue receipts. Jewellery value chain will contribute over 100 crore for this initiative, he added.