Indian Jeweller (IJ) Magazine August -September 2019

Smaller diamonds are mostly
produced in India itself but bigger
sizes can be imported from Belgium
or Hong Kong. Earlier there was a
monopoly held by De Beers and
DTC, which mined diamonds and
distributed to jewellers. So the origin
was known. But now there are other
mines that have emerged so the
source has fanned out to several
locations and that information does
not make its way to our record.
Mahesh Jagwani, Mahesh
Notandas Fine Jewellery
to our record. Trends have changed now, and
younger generation prefers to buy smaller
wearable jewellery that is not very heavy. I
cannot say that this trend will increase in
future as manmade diamonds have also made
a foray into the market so we will have to see
how the consumer accepts these changes.”
Taking initiative
One out of ten consumers have knowledge
or want information of sourcing of stones in
the central region of India. Central Indian
consumers operate on the implicit trust they
have on their family jeweller. Viraj Sheth of
Batukbhai Sons Jewellers, Nagpur maintains
that it is important to educate the consumer.
“When we are selling any type of jewellery
we make it a habit to willingly educate our
clients about the gemstones or diamonds used
in the pieces. So if we are using emeralds,
we tell consumers that it’s the water content
in the stone that gives it its rich colour in
turn making it more expensive. Consumers
themselves are not that aware of terms like
origin or mining, but we as a brand feel that
if we provide these details, it will increase
their trust in us and promote transparency.
With the emergence of lab grown diamonds,
it will be difficult to provide any origin
details as they are created in a lab.”
Survival of the fittest
The jewellery industry is on the cusp of a
major transition. Fading demand, high gold
prices and increased competition can only
result in the survival of the fittest. In order
to not just survive, but also thrive, Indian
jewellers need to step up and think long
term. Details such as origin of diamonds,
processing and ethical mining might not
seem important today, but they will surely be
of grave importance in the next 10-15 years.
To arm himself or herself for the future, a
jeweller needs to prepare himself now.
When we are selling any type of
jewellery we make it a habit to
willingly educate our clients about
the gemstones or diamonds used
in the pieces. So if we are using
emeralds, we tell consumers that it’s
the water content in the stone that
gives it its rich colour in turn making
it more expensive. Consumers
themselves are not that aware of
terms like origin or mining, but we as
a brand feel that if we provide these
details, it will increase their trust in
us and promote transparency.
Viraj Sheth, Batukbhai Sons
Jewellers
INDIAN JEWELLER | august-september 2019 | 97