“The New Year has brought in good news on many fronts. On the business front, demand for gems and jewellery picking up in all major export markets. Jewellery was the highest selling luxury product in China in 2020 and on the Thanksgiving Day spending in the US rose by nearly 22 per cent year-over-year to USD 5.1 billion, hitting a new record,” GJEPC Chairman Colin Shah said at the inaugural of the second edition of India International Jewellery Show (IIJS) Virtual.

Shah said India’s exports of gem and jewellery were back to the pre-COVID levels in November and December.

The first edition of IIJS Virtual, organised in October 2020, saw over 10,000 visitors and a business turnover of around Rs 1,000 crore, Shah said