It’s been a month to the demonetization announcement and the gems and jewellery industry has been hit hard due the decision.

Industry shows, too, seem to have bearing the brunt of the lull period in the industry. The 10^th IIJS Signature and 4^th IGJME will be a 3-day event now and it is slated to be held during 7^th to 9^th February 2017 at Bombay Exhibition Centre in Goregaon, Mumbai.

The demonetization decision came at the peak buying season of gems and jewellery industry. The industry’s sales has almost dropped by 80 per cent during the last one month. Even the visiting NRI’s purchases, which are quite high during this period, has slumped by 50 per cent due to cash crunch. Though the industry has been asked to look at the decision for the betterment of the industry, fact is that the sales have suffered badly. If industry insiders are to be believed then it would take another six months for the industry to recover.