Fonebox Retail Ltd to mobilise Rs. 20 crore from IPO in January 2024

AHMEDABAD, JANUARY 12, 2024 (NHM): Fonebox Retail Limited (The Company), a popular mobile and consumer durables retailer in Gujarat, today announced its plans to mobilise Rs. 20 crore through an Initial Public Offering (IPO) in January 2024. The IPO will comprise a fresh issue of 29,10,000 equity shares with a face value of Rs. 10/- each at book build price. Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and KFIN Technologies Limited is the registrar of the issue. 

The Ahmedabad-based retailer operates a huge network of 153 multi-brand outlets under three brand names: Fonebox, Fonebook and MyMobile in more than 20 cities across Gujarat. Of the total stores, 40 are Company Owned and Company Operated (COCO model) stores and 113 stores are Franchise Owed and Company Operated (FOCO model). 

Fonebox Retail sells smartphones and allied accessories from manufacturers like Vivo, Apple, Samsung, Oppo, Realme, Nokia, Narzo, Redmi, Motorola, LG and Micromax. The company also offers consumer durable electronic goods like laptops, washing machines, smart TVs, air conditioners and refrigerators from popular brands, including TCL, Haier, Lloyd, Daikin, Voltas, Mi, Realme and OnePlus in its multi-brand stores across Gujarat.

The company intends to mobilise Rs. 20 crore from the proposed initial public offering and plans to utilise funds to meet working capital requirements, general corporate purposes and public issue expenses. Fonebox Retail plans to invest Rs. 13.5 crore to expand its retail store network to more cities in Gujarat. Apart from this, the company proposes to spend the remaining capital on acquiring land to build corporate headquarters, hiring human resources in marketing and technical departments, servicing repayment obligations under existing and future financing arrangements and funding future growth opportunities.  

Commenting on the company’s fund-raising plans, Mr. Manishbhai Girishbhai Patel, Chairman & Executive Director, Fonebox Retail Limited, said, “India is the second largest smartphone market in the world, and the number of mobile subscribers is set to cross 142 crore in 2024. We see a great opportunity for smartphones and the consumer electronic goods market as internet penetration rises and rural markets remain untapped. Following a phenomenal response from the customers, we intend to continue our retail store expansion across the state with the help of proceeds from the proposed IPO. Moreover, we are committed to delivering top-notch customer experience at all our stores.”

The company is promoted by a group of dynamic and experienced entrepreneurs – Manishbhai Girishbhai Patel, Jigar Lallubhai Desai, Parth Lallubhai Desai, Jigneshkumar Dashrathlal Parekh and Amitkumar Gopalbhai Patel. The retailer commenced its operations in February 2021 with the brand ‘Fonebox’, before acquiring retail store brands ‘Fonebook’ and ‘MyMobile’ in 2022. 

Fonebox Retail has partnered with leading financial institutions such as Bajaj Finance, HDB Financial Services, HDFC Bank and IDFC First Bank to provide credit/EMI facilities to its customers. The company also offers aftersales support to customers buying mobile handsets and tablets in its retail stores and franchisee outlets. 

The retailer posted a revenue of Rs. 140.22 crore and a profit (PAT) of Rs. 1.55 crore in the first half of the current financial year ending September 30, 2023. The company’s total revenue grew to Rs. 196.26 crore in FY2022-23, up from Rs. 90.92 crore in the previous financial year. In FY2022-23, Fonebox Retail reported a profit (PAT) of Rs. 1.59 crore, compared to Rs. 12.79 Lakh in FY2021-22.  

Rulka Electricals Limited secures multiple work orders worth Rs. 16 Crore

MUMBAI, JANUARY 12, 2024 (NHM): Rulka Electricals Limited (REL), a leading integrated electrical services company, has secured multiple work orders amounting to Rs. 16 crore from renowned companies in different sectors. These new work orders comprise electrical and firefighting projects in various states across India, including Maharashtra, Gujarat, Haryana, Tamil Nadu and Andhra Pradesh.

The Mumbai-based company is also planning to raise capital through an Initial Public Offering (IPO) to fund its growth opportunities in domestic and international markets. It has appointed Beeline Capital Advisors as the Book Running Lead Manager to the issue.

REL offers a wide range of services, including electrical solutions, electrical panels, firefighting systems, solar EPC contracts, turnkey electrical warehousing projects, electric commercial, industrial services, maintenance services, electrical contracting and data & voice cabling installation across the industrial sector, commercial, retail and theatre sector. It also undertakes Electrical & Fire contracting services for all types of industrial plants.

Speaking about the new orders and the company’s growth plans, Mr. Rupesh Laxman Kasavkar, Chairman and Managing Director, Rulka Electricals Limited, said, “We are delighted to begin the new year with a string of new work orders that demonstrate our commitment to quality of our work. We have been successful in retaining most of the clients, reflecting the great reputation we enjoy in the market. Furthermore, we are looking to scale up our business by venturing into different sectors in new markets, both international and domestic. We firmly believe that our experienced team of professionals combined with improved operational efficiency will help us propel into the next phase of our growth journey.”

Incorporated in 2013, REL is promoted by the entrepreneur duo Mr. Rupesh Laxman Kasavkar and Mr. Nitin Indrakumar Aher, both having over two decades of rich experience in the electrical domain. With extensive experience in site supervision and electrical project work, the promoters have been instrumental in shaping the company’s growth strategy.

REL posted a total revenue and profit (PAT) for the first half of the year ended September 30, 2023 at Rs. 36.44 crore and Rs. 3.05 crore. In the financial year 2022-23, the company registered a total income of Rs. 46.89 crore, compared to Rs. 36.27 crore in FY2021-22. The company earned a profit (PAT) of Rs. 2.80 crore FY2022-23, up from Rs. 1.12 crore in FY2021-22.

PM inaugurates Bharat Ratnam Mega CFC in SEEPZ Mumbai for gem & jewellery Industry

National, 12^th January, 2024 (NHM): Today signifies a momentous occasion as the esteemed Prime Minister, Shri Narendra Modi inaugurated the commencement of the Bharat Ratnam Mega CFC at the SEEPZ SEZ in Mumbai in virtual mode (remotely). This momentous event is a testament to the Government's commitment to driving innovation, economic growth, and technological advancement.

Bharat Ratnam Mega CFC is a Socio-economic project promoted by the Ministry of Commerce and Industry, GJEPC India and SEEPZ SEZ authority to drive exports from the country.

This project aims at creating a world-class infrastructure for promoting the inherent skills of the gems & jewellery manufacturing industry. The Mega Common Facilitation Centre provides a supportive and collaborative environment for entrepreneurs, MSMEs and small businesses to grow and thrive.

Bharat Ratnam CFC will house the cutting-edge equipment, including a 3D Metal printer. It will also provide training and skilling for artisans, including specially abled students. The Mega CFC will transform the export sector in the gem and jewellery trade and will also help the domestic manufacturing.

Vipul Shah, Chairman, GJEPC, said, “Salute to the Hon’ble Prime Minister Shri Narendra Modi for steering a remarkable era of development across all sectors. His visionary strides towards shaping a Viksit Bharat are not only evident in ground breaking policy reforms, but also in the development of infrastructure that promises to redefine the business landscape.

On behalf of the Indian gem and jewellery community, I extend heartfelt thanks to the Prime Minister for his forward-thinking approach. The government's steadfast support, exemplified by the establishment of the Mega CFC Bharat Ratnam in SEEPZ, Mumbai, lays a robust foundation for the industry's future growth. Mega CFC is integral to the industry's plan to double the SEZ export target from $7 billion to $15 billion, unlocking the untapped potential of around $30 billion.

“The Bharat Ratnam Mega CFC was conceptualised by GJEPC. The feasibility study and project report was done through National Productivity Council by GJEPC. The Project report was adopted by MoC and funded through SEEPZ. The implementation of the project was done under a Mega CFC Committee nominated by GJEPC along with SEEPZ Authority. GJEPC has signed an MoU to run and operate the Bharat Ratnam Mega CFC.”

The Mega CFC shines as a symbol of innovation, featuring cutting-edge technologies certified for carbon neutrality. It houses a dedicated Research & Development Centre, a Training & Skilling School for inclusive education, and versatile facilities for exhibitions and events. 

“The Prime Minister's commitment to this transformative vision is nothing short of inspiring, and we eagerly anticipate the flourishing journey that lies ahead for the gem and jewellery sector, driven by this visionary leadership. GJEPC will collaborate with SEEPZ and Government of India to transform the Gem and Jewellery industry,” Shah added.

Vipul further added, “Today, on the auspicious occasion of National Youth Day, dedicated to commemorating the birth anniversary of Swami Vivekananda, we seize the perfect moment to unveil Mega CFC, a monumental initiative poised to serve as a guiding light of inspiration for the youth and the forthcoming generation of professionals, directing them towards excellence in this industry.”

Rajesh Kumar Mishra, IRS Zonal Development Commissioner, SEEPZ-SEZ said, “I express by heartfelt gratitude to Hon’ble Prime Minster Shri Narendra Modi for initiating the step to transform the SEZs, which he has successfully started from SEEPZ Mumbai. This essential renovation and upgrade were timely necessities which will further boost gem and jewellery exports from our country. And the best part is Mega CFC facilities will be made available at a reasonable rate not only to SEEPZ-SEZ units but also to factories outside the zone which will improve the output in terms of quality, productivity and yield of the finished jewellery.”

C. P. S. Chauhan. IRS, Joint Development Commissioner, SEEPZ-SEZ, said, “After the Bhoomi Poojan on September 1st, 2022, the construction of the Mega CFC was completed within an astonishing 14-month period! This achievement illustrates the collaboration between the Government, GJEPC, and SEEPZ for their collective efforts in completing this project in record time. I firmly believe this marks just the beginning, and we can anticipate more such transformative projects supported by the government to reshape the landscape of SEEPZ.”

Kirit Bhansali, Vice Chairman, GJEPC, stated, “We are honoured and thrilled to witness the momentous occasion of the Honourable Prime Minister laying the foundation stone for NEST 1 and Bharat Ratnam at SEEPZ SEZ. The Gem & Jewellery sector comprises a maximum of MSMEs (Jewellery manufacturers and retailers) who have affordability constraints for the modern technology, research & development and skilled manpower. Mega CFC bridges this gap to maintain the competitiveness through the latest in 3-Ts (Technology, Techniques and Training) from across the globe at a single facilitation centre.”

“Bharat Ratnam is poised to become a game-changer, shaping the future of the industry providing a conducive environment for cutting-edge technology . Mega CFC provides and enables a smooth ‘ALL THINGS JEWELRY’ experience as whole, while facilitating various technical services involved in the jewelry making process under one roof”, added Mr. Bhansali

The company culture, innovative combination of services, state-of-the-art equipment, in-house talents and positive customer experience journey fosters customer loyalty making Mega CFC way unique.

Colin Shah, Head - Working Group, Bharat Ratnam, Mega CFC, commented, “Thanks to Hon’ble PM Shri Narendra Modi and Shri Piyush Goyal, for the backing this mega project. With their robust support, we are transforming the landscape by democratising access to cutting-edge technology. This will empower every individual to engage in jewellery manufacturing at the highest level. This 360-degree service model is designed to equip entrepreneurs with the necessary skills, connect them with global customers, and provide continuous learning through seminars.”

Bharat Ratnam is a well-structured layout, with the first three floors housing advanced technologies; the fourth floor is dedicated to training workers, with a special focus on creating opportunities for deaf and mute workers through partnerships with local NGOs. The fifth floor will be a hub for buyer-seller meets, fostering global connections, and the sixth floor will serve as a Convention Center for symposiums throughout the year, providing entrepreneurs with access to valuable knowledge and networking opportunities.

Cutting Edge Technical Services At Bharat Ratnam – Mega Common Facility Centre:

• CAD & CAD Rendering Services
• 3D Printing Services – Metal
• 3D Printing Services– Ceramic
• 3D Printing Services - Resin & Wax
• Casting Services (Gold, Platinum & Silver)
• CNC Services
• Refining Services (Gold, Platinum & Silver)
• Mass Finishing Services
• LGD Testing Services
• Hallmarking Services
• Colour Laser Engraving Services
• Micron Plating / Rhodium Plating Services
• Enamel / Coating Services
• LAB Testing Services including XRF
• Photography & Video Services
• Training & Skilling School

 

 

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today represents 8,800 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

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CLOVE DENTAL UNLEASHES "TEETH HAVE FEELINGS TOO" CAMPAIGN, UNVEILING, THE SECRET LIVES OF TEETH WITH A CHEEKY TWIST

New Delhi, 11^th January 2024 (NHM):  Clove Dental, India’s largest dental chain, has officially launched their ground-breaking campaign, ‘Teeth have feelings too,’ unravelling the whimsical world of teeth with an uproarious and cheeky spin.

Imagine a realm where teeth don flamboyant costumes, strutting about in an all-pink set that represents the vivacious world of gums. This innovative campaign introduces human characters embodying teeth, shedding light on the clandestine drama unfolding behind the scenes due to the smallest oral neglect.

In a dental landscape saturated with functional communication, Clove Dental’s ‘Teeth have feelings too’ campaign takes a daring leap to provoke conversations about the unforeseen repercussions of poor oral health. The campaign seamlessly blends a distinctive spin, whimsical humor, and striking design to captivate audiences and defy the conventional norms of dental care advertising.

Renuka Dudeja, Head of Brand, at Clove Dental, expressed their enthusiasm, stating, “Clove Dental is already a household name, and to elevate our communication, we had to break free from the norm. Shifting away from purely technical messaging, adopting a quirky spin was the perfect way to stir conversation – and it seems our instincts were spot on!”

Samir Datar, Chief Strategy Officer of Crayons Advertising, the brains behind the campaign, emphasized the need to stand out in a crowded market. “In a sea of fear-inducing messages, bland offers, and generic smiles, we aimed to rise above the noise while staying rooted in the realities of dental care. This campaign presented a unique opportunity for us to do something exceptional, and we’re proud of the results it has delivered.”

“Teeth are akin to people. They harbour strong emotions and passionately communicate when neglected. What better way to accentuate these sentiments than by personifying them?” added Manoj Jacob, Executive Creative Director at Crayons.

The ‘Teeth have feelings too’ campaign is currently making waves across print, out-of-home, and digital platforms, with plans for further expansions to captivate and engage audiences on an even grander scale. Brace yourselves as Clove Dental invites everyone to dive into the vibrant and animated world where teeth take centre stage, proving that indeed, teeth have feelings too! Ends 

Konstelec Engineers Ltd aims to raise around Rs 25 crore from IPO on NSE Emerge

MUMBAI, JANUARY 8, 2023 (NHM) :  Konstelec Engineers Limited (The company or ‘KEL’), India’s leading electrical EPC services company, today announced its plans to raise approximately Rs. 25 crore from the Initial Public Offering to be launched in January 2024. 

The company aims to be listed on NSE Emerge. The Initial Public Offering will comprise a fresh issue of up to 41 lakh equity shares with a face value of Rs. 10/- each at book build price. Beeline Capital Advisors Private Limited is the Book Running Lead Manager, and Skyline Financial Services Private Limited is the registrar of the issue. 

 The Mumbai-headquartered EPC contractor specialises in delivering full-scale project management, procurement support and comprehensive engineering services for various electrical infrastructure, instrumentation and automation projects across India and abroad. 

Its services are applicable in several manufacturing industries, such as oil & gas, refinery, steel, cement, pharmaceuticals, textiles, hospitals, and health care, both domestically and internationally. 

KEL has a strong order book of over 50 major projects worth around Rs. 565 crore in order value that are in various phases of implementation. The company’s ongoing projects include electrical, construction power work and instrumentation work for leading corporates such as JSW Vijayanagar Metallics Ltd, Rajasthan Refinery Project, HRRL Pachpadra, Mangalore Terminal Expansion Project, Karnataka State and Benue Cement Plant in Nigeria. 

The company intends to utilise a majority of funds raised proceeds towards the working capital expenses for procuring high-quality products for its long-term projects and to provide collateral security to various clients. 

It will use the remaining funds for general corporate purposes and to meet public-issue expenses. 

Speaking about the company’s IPO plans, Mr. Biharilal Ravilal Shah, Chairman cum Managing Director of Konstelec Engineers Limited, said, “Our combined experience of over six decades in this space combined with the expertise of our exceptionally professional team has driven our business beyond boundaries. Our robust order book and long-standing client relationships demonstrate our dedication to delivering high-quality, safe and innovative solutions. We intend to use the proceeds from the IPO to meet working capital requirements for our long-term projects and efficiently carry on our operations in India and abroad.” 

In FY2022-23, KEL recorded a revenue from operations of Rs. 153.40 crore, up from Rs. 107.05 crore in FY2021-22. The company's EBITDA stood at Rs. 14.15 crore in FY2022-23, up from Rs. 5.84 crore in FY2021-22. KEL recorded over two-fold growth in profit (PAT) at Rs. 7.78 crore in FY2022-23, compared to Rs. 3.52 crore in FY2021-22. 

The company counts leading corporate conglomerates, including Reliance Industries Limited, Engineers India Limited, JSW Steel, Indian Oil, BPCL, HPCL, CPCL, MRPL, ISRO, ACC, BARC, Dangote Industries Limited, Adani, NTPC, Tata Steel Limited, Navin Fluorine International Ltd and IGPL among its clientele.Ends

Dr. Devendra Fadnavis Hon. Dy. CM and Shri Uday Samant, Hon. Minister of Industries, GoM inaugurates the largest ever event by GJEPC - The IIJS Signature & IGJME at BEC Goregaon

MUMBAI, 5th JANUARY 2024 (NHM): Gems & jewellery industry belongs to Mumbai as Mumbai accounts for 72% of the annual USD 37 bn of exports, proclaimed Dr. Devendra Fadnavis, Hon. Dy. Chief Minister of Maharashtra, while inaugurating the largest-ever IIJS Signature & IGJME 2024 twin Exhibitions organised by the Gem & Jewellery Export Promotion Council (GJEPC) at the Bombay Exhibition Centre, NESCO Goregaon. 

For the first time ever, the New Year’s first top-of-the-line design centric jewellery trade show IIJS Signature (India International Jewellery Show Signature) along with the India Gem & Jewellery Machinery Expo (IGJME) is being held at two venues in Mumbai: Bombay Exhibition Centre, NESCO, Goregaon (5-8 January)and JIO World Convention Centre, BKC (4-7 January).

Dr. Devendra Fadnavis was accompanied by Shri Uday Samant, Hon. Minister of Industries, Govt. of Maharashtra at the inauguration ceremony in the presence of Ms. Reshma Lakhani, Director General, DGEP; Mr. Paul Rowley, Executive Vice President, De Beers; Shri Sunil Nayak, CEO, Reliance Jewels; Mr. Vipul Shah  Chairman, GJEPC; Shri Kirit Bhansali, Vice Chairman, GJEPC; Shri Nirav Bhansali (Convener, National Exhibitions, GJEPC); Shri Sabyasachi Ray (ED, GJEPC), along with the doyens of international & Indian diamond, gem & jewellery sector. 

While speaking at the IIJS Signature, Dr. Fadnavis said, “Prime Minister Shri Narendra Modi ji has set a target of USD 75 bn for gem & jewellery exports by 2030. This will be possible with the pivotal role played by the apex body GJEPC, which has instrumental in making India one of the biggest international players in the global gems & jewellery industry. Maharashtra Government has worked closely with GJEPC to complete the new Common Facility Centre (CFC) at SEEPZ in just 17 months and this will allow gem & jewellery exporters especially MSMEs to have hassle free shipment, paper work and facilitate ease of doing business. Maharashtra Government and GJEPC have collaborated for the new India Gems & Jewellery Park at Navi Mumbai and this initiative will also help achieve export target. Jewellery Park will create new ecosystem in gems & jewellery industry wherein Maharashtra will preserve its status as ace exporter and set new records in gem & jewellery exports. Indian jewellery has been part of the global trade since time memorial not is just economic but also an emotional investment. As India prospers and economy and industry expands, Maharashtra will continue to make new investments. Maharashtra Govt. is working tirelessly to help gem & jewellery entrepreneurs in key parameters such as ease of doing business and cost of doing business. As Maharashtra targets to become USD 1 trillion economy, we shall continue to collaborate with GJEPC to create unique institutions such as the Bharat Diamond Bourse, which symbolises unique ecosystem. And whenever GJEPC wishes to create any new ecosystem, the natural and first choice has to be Maharashtra.”   

Maharashtra’s Industries Minister Uday Samant urges GJEPC to develop indigenous gem & jewellery industry in rural India. 

While thanking Dr. Devendra Fadnavis for his support and vision, Mr. Vipul Shah, Chairman, GJEPC, said, "Now, with the Jewellery Park coming up in Navi Mumbai with the support of Maharashtra Government, our industry is getting ready to bring in more investments from abroad. The Jewellery Park brings with it several government-backed advantages. It's a one-stop-shop with the Single Window Clearance for government approvals under the Maitri Policy, making processes smoother and faster. Additionally, the State Government has offered relief in power tariff and electricity charges, among other benefits. These initiatives significantly ease the path for businesses, ensuring efficiency and reducing operational costs, ultimately fostering a thriving environment within the park."

Talking about the mega CFC in SEEPZ, Mumbai, Shri Shah said, "GJEPC, with the support of the Ministry of Commerce and Industry has set up a Mega CFC at SEEPZ in Mumbai, which will be launched soon. This groundbreaking initiative aims to enhance the manufacturing capacity of the industry, foster technological advancements, and provide comprehensive skill development opportunities."

Shah said, “The Indian gem & jewellery industry shares our beloved Prime Minister’s dream of becoming a US dollars 5 trillion economy by 2030 and be a first world nation by 2047. To take part in that Sankalp to be Viksit Bharat, our goal is to reach USD 75 billion exports by the year 2030 and USD 100 billion by 2047. Maharashtra is already a big player in the Indian gem and I am sure that Maharashtra will continue to be leading exporters from the country as we set higher goals."

Mr. Paul Rowley, Executive VP, De Beers, said, “As seen here at IIJS Signature, India truly inspires and Indian entrepreneurship and their drive and passion is infectious. As India progresses towards becoming the largest economies of the world, massive infrastructure investment is changing face of country rapidly and supporting economic development, nurturing businesses and enhancing people’s lives. 

“India's sustainable growth provides optimum environment for business and facilitates innovation to shine. India’s fast growing global stature is the heartbeat of the new global economy. New exciting opportunities are emerging with industrialisation, urbanisation and consumption. The world is eyeing India’s affluent middle class segment of 30 mn households as potential customers.  This will lead to increased spending on fashion jewellery. The gem & jewellery industry in India is also maturing. 

The diverse & distinct worlds of natural diamonds and Lab Grown Diamonds (LGDs) have started to diverge. Natural diamond is unique miracle rare and breath-taking beauty. They symbolise precious enduring love ties across generations, deepest human emotions and the most profound connections humans could have – real diamonds are the most desired cherished and richly symbolic objects in the world. LGDs do not have the qualities or symbolism of natural real diamond. G7 sanctions are major concern to everyone in global trade and industry has to speak as one voice in a collective and collaborative way. Diamond industry is cyclical and the industry should be optimistic for the next wave.”

The 16th edition of GJEPC's IIJS Signature will witness 30,000+ visitors (including international buyers) from 800 Indian cities and 60 countries. The show boasts of 1,500+ exhibitors occupying 3,000+ stalls across a sprawling 1.25 lakh sq. mt. of exhibition area.

Shri Kirit Bhansali, Vice Chairman, GJEPC, requested Dr. Devendra Fadnavis to consider GJEPC’s plea of land for building residences for workers near the India Jewellery Park and first of its kind Gem & Jewellery University in the country. 

“The IIJS Signature show alone is set to enable a staggering Rs. 35,000 crore worth of business. When considering the collective impact of all three IIJS shows, the total business generated will amount to an impressive Rs. 1.25 lakh crore. This establishes the IIJS as a truly unparalleled platform within the global gems and jewellery industry, added Nirav Bhansali, Convener, National Exhibitions, GJEPC.

GJEPC has successfully enlisted the IIJS Signature 2024 Exhibition under the “Procurement and Marketing Support” scheme of the Ministry of MSME. The scheme provides financial assistance to micro and small enterprises for participating in domestic and international trade fairs and exhibitions. As a result, the eligible exhibitors can now avail themselves of a grant of ₹1.50 lakh each, which will help them cover costs and enhance their visibility and competitiveness in the global market.

 

Additionally, GJEPC has introduced a dedicated section for luxury connoisseurs and couture jewellery buyers called “The Select CLUB” at IIJS Signature 2024 in the Jio World Convention Centre. This exclusive section allows Couture jewellery manufacturers to showcase their extensive collection of high-end, exclusive jewellery designs to a curated audience.

 

About The Gem and Jewellery Export Promotion Council (GJEPC)

The Gem & Jewellery Export Promotion Council (GJEPC), set up by the Ministry of Commerce, Government of India (GoI) in 1966, is one of several Export Promotion Councils (EPCs) launched by the Indian Government, to boost the country’s export thrust, when India’s post-Independence economy began making forays in the international markets. Since 1998, the GJEPC has been granted autonomous status. The GJEPC is the apex body of the gems & jewellery industry and today around 9,600 members in the sector.  With headquarters in Mumbai, GJEPC has Regional Offices in New Delhi, Kolkata, Chennai, Surat and Jaipur, all of which are major centres for the industry. It thus has a wide reach and is able to have a closer interaction with members to serve them in a direct and more meaningful manner. Over the past decades, GJEPC has emerged as one of the most active EPCs and has continuously strived to both expand its reach and depth in its promotional activities as well as widen and increase services to its members.

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The Fashion+Jewellery combination can make India a coveted and preferred wedding destination for the world: Union Minister Shri Piyush Goyal

MUMBAI, 4^th JANUARY, 2024 (NHM): The Largest Ever 16th edition of GJEPC's IIJS Signature (India International Jewellery Show | Signature) 2024 was inaugurated by Union minister Piyush Goyal today at JIO World Convention Centre in BKC. It is expected to have over 32,000 visitors (including international buyers) from 800 Indian cities and 60 countries and over 1,500 exhibitors occupying 3,000 stalls.

Union minister Piyush Goyal on Thursday said the government is keen to expand ECGC cover and asked gems and jewellery industry leaders to form a committee to help exporters in the sector.

"We have started giving ECGC (formerly Export Credit Guarantee Corporation of India) cover for the whole turnover...we are keen to expand, and I ask the captains of the industry to see how we can have an industry-ECGC-government partnership, which will ensure the baggage of the past can be erased.

"If the industry and the government can come together and work together, I am sure we can look at individual policies also for individual exports," Goyal said while addressing the inaugural session of the 4-day IIJS (India International Jewellery Show) Signature 2024 Gem and Jewellery Trade Show.

The commerce and industry minister suggested forming a committee consisting of ECGC, the government and GJEPC representatives to develop a certain mechanism that will help the industry to cross the hump and start giving exporters credit cover.

Meanwhile, he said, India has the potential to become the global epicentre of the gem and jewellery industry with a holistic ecosystem encompassing all diverse constituents and elements.

"Massive investments are being made to create a world-class infrastructure, including the 20-acre India Jewellery Park in Navi Mumbai and a common facility centre in SEEPZ Mumbai," he added.

The minister also urged the industry to promote 'Wed for India', which will help India become a destination wedding centre and boost the domestic textile, gem and jewellery, tourism and hospitality sectors.

"Destination weddings in India are going to be the next big opportunity for economic value addition, particularly for the tourism, hospitality, gem and jewellery and textile sectors. I will urge all of you to market the concept 'Wed in India', which will be great for our business and domestic gold jewellery, which has grown by 20 per cent in the current year," Goyal said.

Gem Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah said India is today a powerhouse of jewellery manufacturing and the domestic gem and jewellery market, and after the India-UAE CEPA bilateral trade agreement, the sector is looking forward to trade agreements with GCC, the UK, EU and Canada.

"And we will grow India's share in world exports of gems and jewellery from 4.6 per cent to more than 10 per cent by 2030," he added.Building world-class infrastructure in the gem and jewellery business will entail an investment of more than Rs 2 Lakh crore within the next five years."We are investing heavily in infrastructure through finance from trade members only, be it commissioning the largest diamond bourses in the world like Bharat Diamond Bourse at Mumbai and now Surat Diamond Bourse or recently announced Gem Bourse in Jaipur or the largest Jewellery Park in the world, the India Jewellery Park, Mumbai," Shah said.

The government is also investing to create a mega Common Facility Centre (CFC) at SEEPZ, NEST 1 and NEST 2. The government's active involvement in all of these facilities will help bring back the Indian gem and jewellery businessmen from foreign destinations of Belgium, UAE, Thailand, USA and other countries," Shah added.

GJEPC Convener - National Exhibitions, Nirav Bhansali said, " As the first show of the year, IIJS Signature plays a crucial role in gauging demand from both domestic and global buyers. It also offers vital insights into the trends in different markets as per the buying behaviours. These insights, particularly at the year's outset, prove invaluable for manufacturers. The dual-venue expansion is intended to provide exhibitors and visitors with additional space, creating a conducive and spacious atmosphere for productive business interactions.”

“The IIJS Signature show alone is set to enable a staggering Rs. 35,000 crore worth of business. When considering the collective impact of all three IIJS shows, the total business generated will amount to an impressive Rs. 1.25 lakh crore. This establishes the IIJS as a truly unparalleled platform within the global gems and jewellery industry, added Bhansali.

GJEPC has successfully enlisted the IIJS Signature 2024 Exhibition under the “Procurement and Marketing Support” scheme of the Ministry of MSME. The scheme provides financial assistance to micro and small enterprises for participating in domestic and international trade fairs and exhibitions. As a result, the eligible exhibitors can now avail themselves of a grant of ₹1.50 lakh each, which will help them cover costs and enhance their visibility and competitiveness in the global market.

Along with IIJS Signature, the India Gem and Jewellery Machinery Expo (IGJME 2024) is held simultaneously at BEC, featuring over 100 companies and 150+ stalls. This edition promises an enhanced experience, presenting a wider array of compelling business opportunities.

Additionally, GJEPC has introduced a dedicated section for luxury connoisseurs and couture jewellery buyers called “The Select CLUB” at IIJS Signature 2024 in the Jio World Convention Centre. This exclusive section allows Couture jewellery manufacturers to showcase their extensive collection of high-end, exclusive jewellery designs to a curated audience. 

‘The Select CLUB’ for Couture Jewellery manufacturers at IIJS Signature 2024, aims to bring forth a unique blend of traditional craftsmanship and contemporary designs that will resonate with the discerning taste of patrons at the luxurious JWCC venue. ‘The Select CLUB’ at IIJS Signature 2024 is poised to empower Couture jewellery manufacturers, providing a platform to showcase their diverse array of exclusive high-end jewellery designs to our discerning audience."

This IIJS Signature edition brings not just a showcase of the latest trends and innovations but also a forum for knowledge exchange. Innov8 Talks, seminars designed to inspire and educate, and the networking evenings foster connections that go beyond business transactions.Ends