The India Jewellery Shopping Festival 2023 (IJSF) took center stage at the elegant Park Hyatt in Banjara Hills, Hyderabad. The event, a 37-day extravaganza celebrating gold, featured Shruti Hasan, a renowned actress and the festival's brand ambassador, gracing the occasion.
During her speech, Shruti Hasan expressed her fondness for temple jewellery, traditional pieces, and pearls, emphasizing her preference for timeless designs over fleeting trends. She recounted her childhood memories of gold jewellery, highlighting its sentimental value. Shruti also noted the cultural significance of jewellery in movies, underscoring its role in storytelling.
Shruti Hasan's insights mirrored the evolving trends, noting millennials' growing inclination towards incorporating gold and diamond jewellery into their portfolios. The IJSF, spanning from October 15 to November 22, united over 1500 jewellers nationwide, including 15 prominent ones from Hyderabad.
The festival, an initiative of the All India Gem and Jewellery Domestic Council (GJC), offered customers a chance to win limited edition silver coins featuring the new Indian parliament's image. Dinesh Jain, addressing the press, stressed the festival's commitment to ethical practices, ensuring that only hallmark jewellery was sold, supported by valid GST bills.
Manoj Jha, Joint Convenor of IJSF, highlighted the festival's unique approach, democratizing the industry and fostering unity among retailers. He anticipated a substantial 30% increase in overall business, attributing it to the festival's impact. The event, set to become an annual affair, aimed to enhance transparency in the jewellery industry.
Jha also emphasized the significance of South India in the jewellery market, where 60% of sales originated. He mentioned the industry's focus on catering to diverse preferences, including lab-grown diamonds, natural diamonds, and the vast NRI market. With January and February heralding a significant wedding season post-Covid, jewellers were optimistic about robust business opportunities.
The IJSF 2023 at Park Hyatt stood as a testament to the enduring allure of gold and jewellery, uniting jewellers, enthusiasts, and industry experts in a celebration of India's rich cultural heritage and craftsmanship