TIL Desk Lucknow/ All India Gem and Jewellery Domestic Council (GJC), the apex body of the Gems & Jewellery industry is organizing India Jewellery Shopping Festival (IJSF) which is a unique initiative involving in the entire value chain i.e., B2B and B2C to bolster the gold jewellery sales across the nation. IDT Gemmological Laboratories Worldwide is the Title Partner of IJSF 2023. The upcoming India Jewellery Shopping Festival is designed in such a way that it will not only increase the jewellery trade but also revive the confidence and credibility amongst the customers on jewellers and their quality jewellery, as the safest and lasting investment thereby giving sense of social security at large.
Wholesaler, Manufactures, Retailers need to enrol to participate in the scheme and avail complimentary gift voucher from GJC as the subscription plan opted. These coupons need to pass on to consumers, one coupon on every purchase of Rs 25 ,000/-. The Scheme involves the granting of assured prize to the customer on the basis of every complimentary gift voucher they receive, which entitles them to further rewards by participating in periodical selection process to be conducted separately, based on set of every 5000 coupons as decided by GJC. Limited edition Silver Coin dedicated to India’s 75 Years of Amrit Mahotsav will be given as an assured gift. In addition to this, there shall also be a national level final bumper selection process on a declared date and time. IJSF is expecting to reach 5 million consumers.
Prizes will be disbursed amounting to 35- 38 percent of revenue receipt and similarly 40 percent of revenue receipt will be used for media and marketing. GJC appointed EY as process advisor, to ensure data privacy and transparent prize selection process in the presence of independent and neutral individuals as appointed. IJSF will procure limited edition of silver coins as an assured gift with every coupon issued digitally. All processes will be done in a transparent manner. Another category of award is a 25-gram gold coin on every set of 5,000 coupons, as a periodical draw. In the bumper prize category, the organiser has proposed five prizes of 1kg gold each of which one prize is fixed for the national level and four for regional levels.
To get international exposure, during IJSF promotion GJC is planning to conduct exhibitions in 8 cities across India, for which we shall create or procure 60 pieces of best of Indian jewellery. Out of which 30 pieces of jewellery will reflect India’s craftsmanship, heritage, art and culture as selected by Historians. Another 30 pieces will reflect new age jewellery to meet the aspirational and growing demand of Gen- Z. These designs will be designed by our best of industry designers and crafted with Indian skills. Visitors to this exhibition shall be provided with adequate information of jewellery displayed. 30 pieces of art, culture and heritage jewellery will be then auctioned during scheme period. Proceeds from the auction will be utilized for the social initiatives taken by Govt. of India.
GJC committed to develop “Jewellery Tourism” in India progressively. Further we shall be providing Subsidies to the International Visitors who shall be visiting India to buy jewellery. We are working with travel agents to promote this program internationally and their travel package will be subsidized with IJSF.
Mr Saiyam Mehra, Chairman of All India Gem and Jewellery Domestic Council, Said “IJSF is India’s largest jewellery festival and is a unique initiative in itself across the entire value chain of the industry. To be stretched over five weeks, the event will coincide with the festive and wedding season, certainly attract customers, and bolster retail jewellery across India,” Mr Dinesh Jain, Convener IJSF & Director GJC, Said, “IJSF will penetrate the masses to influence their interest in jewellery, thereby creating ‘inclusivity for all’. This app-based event is designed digitally to revive the confidence and credibility amongst the customers of jewellers and their quality of jewellery. IJSF prizes will be distributed amounting to 35-38% of revenue receipt and similarly, 40% of revenue receipt will be used for media and marketing.”
Mr. Rajesh Rokde, Vice Chairman, Said, “IJSF possesses a unique combination of B2B and B2C sectors which would bring all types of jewellery value chain participants together, with thousands of innovative designed ornaments will be on display. Not only consumers but also bulk traders and distributors will remain at the centre stage at this festival,”Mr. Manoj Jha, Joint Convener IJSF, Said, “Consumers would be able to win 5 prizes worth Rs 10 lakh each in both Jadau and Temple jewellery, and 10 prizes worth Rs 5 lakh each in diamond and precious stone studded categories. For the gold jewellery segment, the organiser has kept 20 prizes worth Rs 2.5 lakh each for winning. While periodical prizes will be distributed from the retailers’ stores, bumper prizes are meant for distribution in a ceremonial function in every zone.
Retailers will first need to enrol themselves in the IJSF. Retailers of upto 9 stores are required to pay Rs 10,000 plus 18% GST, and retailers with more than 10 stores would be charged Rs 5,000 plus 18% of GST.
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