JB Insights
10th edition of IIBS puts the spotlight on trends, policies, and innovations in the bullion and jewellery markets
Platform for key stakeholders, including refiners, jewellers, traders, policymakers, and financial institutions to deliberate key issues

The 10th edition of India International Bullion Summit (IIBS-10) organized by India Bullion & Jewellers Association’s (IBJA) was held in Mumbai on 7th & 8th March, 2025. More than 800 bullion dealers and jewellers attended this event.IIBS provided a platform for key stakeholders, including refiners, jewellers, traders, policymakers, and financial institutions to deliberate.


IIBS was formally unveiled by Dr. Hasmukh Adhia – IAS (Retd.) – Chairman, GIFT City in the presence of Guests of Honour Pradeep Ramakrishnan – Executive Director – International Financial Services Centres Authority (IFSCA), Prithviraj Kothari – National President – India Bullion and Jewellers Association Ltd (IBJA), David Tait – Chief Executive Officer – World Gold Council, Shivanshu Mehta – SVP & Head-Bullion, MCX Director, IIBX IFSCÂ LTD, Rajesh Rokade – Chairman – All India Gem and Jewellery Domestic Council (GJC), Samit Guha – Chief Financial and Technology Officer – MMTC – PAMP India Private Limited

Dr. Hasmukh Adhia, IAS (Retd.)- Chairman, GIFT City said, “Don’t be complacent about the US tariff as the collateral damage will happen to India, but we have to watch out how industrial trade will shape and we hope that the outcome of US tariff will be good on India. I believe the Indian economy is doing well but India needs formalization of gold and we would like to address any concerns of the bullion Industry. I wish IBJA a grand success. Thank you for organizing this knowledgeable summit and inviting me to be a part of it.”
Prithviraj Kothari, National President, IBJA speaking at 10th IIBS said, “Bullion and Jewellery plays a great role in boosting the economy and it will continue to in future. Also, Gold and Silver has been in the limelight for the past five years and will continue further. IBJA has been active to support industry and to help grow the jewellery industry, we make sure that Gold Monetization Scheme is more accessible to SME Jewellers and IBJA is committed to maintain transparency in the Gold and Bullion Industry. I welcome everyone on behalf of IBJA to take advantage of this summit and thank you for the overwhelming response.”

The panel discussion included topics like Silver Industry Growth – Challenges And Opportunity, India’s Golden Ambition For Jewellery Market, Bringing Artisan In Main Stream, Leadership in Retail Jewellery Business, Is FTA & CEPA Distorting Market, Vision 2047 For Gold Industry by World Gold Council, Cyber Fraud in Gems & Jewellery Sector, Generating Funds For Gold Industry, Hedging Tool For Jewellers In Volatile Market, Bullion Hallmarking – A Way Forward, Opportunity at IIBX, Consumer Insights: The Role of Gold Jewellery, Gold Outlook and Regulation Governing Bullion And Jewellery Market was also discussed.


Speakers for the conference included eminent personalities like Sachin Jain – World Gold Council, Sudheesh Nambiath – DMCC, Prof. Sundaravalli Narayanaswami – India Gold Policy Centre (IGPC), Harish Pawani – Bin Sabt Jewellery LLC, Dubai, Dr. Saurabh Gadgil – PNG Jewellers, PR Somasundaram – Industry Alumnus, D. K. Surana – Intensive Fiscal Services Private Limited, Ashok Gautam – India International Bullion Exchange IFSC Ltd (IIBX), Avinash Pahuja,- ORO Precious Metals Pvt. Ltd., Varghese Alukkas -Jos Alukkas, Ba.Ramesh – Thangamayil Jewellery Limited.
The most interesting discussion was in respect of the Regulation Governing Bullion and Jewellery Market looks at the gold industry. Sachin Jain – Regional CEO, India of World Gold Council explained about the Vision 2047 For Gold Industry.Shivanshu Mehta – SVP & Head-Bullion- Multi Commodity Exchange of India Limited (MCX), Director, IIBX IFSC LTD explained Hedging Tool for Jewellers in Volatile Market.

Elwin Jose – Head – Product Development, Strategy and Services – National Stock Exchange of India Ltd (NSE) explained the Pathway for Price Risk Management: Integration Bullion Spot & Derivatives Market. Ashok Gautam – MD & CEO- India International Bullion Exchange IFSC Ltd (IIBX) and Ajit Mauskar – Director, Market Infrastructure India and Middle East – World Gold Council explained the opportunity at IIBX. Kavita Chacko – Research Head, India- World Gold Council explained Consumer Insights: The Role of Gold Jewellery. Prithviraj Kothari- National President -India Bullion and Jewellers Association Ltd. Stated that IBJA will continue to work for the benefit of industry bringing transparency to the entire trade.
IBJA has also launched initiatives such as the “IBJA Verified Tag” for Platinum Members to ensure their online accounts represent legitimate and authentic businesses or brands. IBJA is also working on a jewellers awareness campaign in the entire country by educating the jewellers through various webinar and seminar. IBJA will soon be launching an innovative programme to boost the skills of karigars. IBJA is also setting up a world class bullion refinery at Gift City, Gujrat. IBJA is also honouring jewellers for their CSR activity.
The event was also followed by The India Bullion and Jewellers Association (IBJA) awards recognizing excellence in the jewelry and bullion industries.
JB Insights
VICENZAORO JANUARY 2025 confirms its success as leading international business and networking platform
The show saw 1,300 brands, increase in international attendance and buyers from 145 countries

Vicenzaoro January 2025, the event of reference for the global jewellery industry and the starting point of the sector’s global calendar. The edition not only confirmed last year’s exceptional numbers, it also touched the international dimension record: in fact, foreign visitation – greater than that of Italians – reached the extraordinary participation number of 145 countries from all over the world , with Turkey, the United States, Germany, Spain and Greece in the lead and interesting increases in countries such as North Korea and Australia.

“We have won the internationality challenge,” commented Corrado Peraboni, CEO of Italian ExhibitionGroup, in regard to Vicenzaoro January 2025. “Several years ago, we decided to develop our leading products abroad. A successful strategy that has decisively increased foreign visitation at our most important events in Italy.”



Matteo Farsura, head of IEG’s gold and jewellery division, underlined: “With 1,300 brands and the involvement of the entire jewellery supply chain, from technologies to haute joaillerie, Vicenzaoro confirms its position as a global platform of reference, favouring dialogue among the different segments to meet the needs of the various markets.
US retailers were out in force at the Italian Exhibition Group (IEG) event staged in the Vicenza show. In attendance were buyers from leading companies, such as Macy’s, Neiman Marcus, Saks Off 5th, Ben Bridge Jeweler, Diane Glynn Jewelry, and Manfredi Jewels.







“Vicenzaoro was a fruitful experience where I filled some orders and discovered unique, well-crafted jewelry,” Lisa Vinicur of Pennsylvania-based Diane Glynn Jewelry told Rapaport News. “I specifically sought important pieces like bangles, earrings, necklaces, and rings that are only available in Vicenza, and I’m pleased to say I found them.”
“Although the venue had construction happening, [the organizers] increased the signage to make the show easy to navigate,” said Nina Bruno of Macy’s, based in New York. “We are always shopping for new inspiration in chains. We were pleased to see fresh manipulations in chains and innovative diamond cutting.”








Laura Barringer, Seattle-based senior buyer at Ben Bridge Jeweler, said the brand refilled all of its core selections and resourced and created a new collection it hoped to launch this spring. Managing partner of New York-based Manfredi Jewels Bianca Chiappelloni explained that part of the show’s draw is the ability to access Italian companies in one place. “It’s been beneficial for us to visit with so many of our Italian brands, in most cases seeing a much more complete and fuller showcase of their offerings than we see at some of the shows in the US,” she said
Vicenzaoro was held in conjunction with T.Gold, which showcased the excellence of the sector’s technologies (a T.Gold that, thanks to the Expo Centre’s expansion, will be staged inside the Vicenzaoro areas as of the second half of 2026), and VO Vintage, the fine vintage watch show, and the collaboration with Vicenza Municipality at VIOFF, the experiential off-show event that involved guests from all over the world.








A “rhythm” of business and innovation that never stopsbut continues for twelve months a year in a unicum of Italian Exhibition Group appointments and jewellery & fashion projects all over the world. IEG’s agenda will see OROAREZZO in May, SIJE in Singapore in July, Vicenzaoro September at the end of the summer (and the return of VO’Clock Privé) preceded by the new Vicenza Symposium, the Valenza Jem Forum in October, JGTD Dubai in November, and the Italian Jewellery Summit in Arezzo in December.
By Invitation
Diamonds Reimagined: The Rise of Lab-Grown Elegance
By Akash Talesara
President : Sky Gold ltd.

Celebrity Endorsements of LGDs
Celebrity endorsements are pivotal in transforming ethical luxury from an idealistic concept to a mainstream trend. When well-known figures embrace lab-grown diamonds, they redefine luxury by blending style with responsibility. These endorsements break the notion that luxury is only about exclusivity and excess, shifting the narrative to one where ethics and beauty coexist. As consumers increasingly prioritize sustainability, celebrities make it easier for them to align their values with their purchases, normalizing lab-grown diamonds as the future of luxury. This shift is not just a trend—it’s a cultural movement led by those who hold significant influence.



Global jewellery brands leveraging celebrity stardom
Global jewellery brands are tapping into the power of celebrity to position lab-grown diamonds as the next big thing in luxury. Celebrities bring visibility, credibility, and aspirational value to these diamonds, helping brands reframe them as a symbol of modern luxury. Through collaborations and campaigns featuring stars, jewellery brands communicate that lab-grown diamonds are not only ethically sound but also high-end and exclusive. These celebrity endorsements connect luxury with conscious consumption, shifting consumer perceptions and setting a new standard in the luxury market. This strategic use of star power helps lab-grown diamonds carve a niche as the future of sustainable luxury.
Celebrity collaborations driving the popularity of LGDs
Celebrity collaborations are a game-changer in how lab-grown diamonds are perceived. When icons align themselves with these diamonds, they make the concept of sustainable luxury not just appealing but aspirational. Through their influence, celebrities turn lab-grown diamonds into a desirable, high-status item, making them relatable for the general public. By wearing and endorsing these sustainable gems, they make them accessible to a broader range of consumers. These partnerships not only elevate the diamonds’ appeal but also serve as a bridge between high-end luxury and everyday luxury, making it more attainable for a global audience.



Millennials and Gen Z driving the shift toward LGDs
The jewellery market is shifting gears, embracing sustainability, ethical practices, and personalized designs like never before. Millennials and Gen Z are leading the charge in the lab-grown diamond movement. These diamonds are made with minimal environmental impact, offering a more eco-friendly and responsible choice. It’s not just about the sparkle, it’s about supporting brands that stand for authenticity and integrity. This change is reshaping the jewellery industry, blending craftsmanship with conscience and redefining luxury as a perfect balance of elegance and ethics.
By Invitation
Diamonds: Natural, grown, and their needs for differentiation in the global jewellery market
by Ramit Kapur
Managing Director, GSI India

The debate between lab grown diamonds and naturals doesn’t seem to die down. Natural diamonds have had an unfettered rule in the global fine jewellery business for centuries until technological advancement allowed lab-grown diamonds, hitherto used in machine tools and cutting, found their way successfully into the fashion and jewellery space purely based on two reasons : perceived identical appearance and a staggeringly low price. Their entry into the market created a space for affordable jewellery, but they are not designed or are equipped to take over the natural diamond market. That’s because they are different and can be scientifically identified as such.
Far from disrupting the prominence of natural diamonds, LGDs have emerged as a complementary force, addressing distinct consumer needs while broadening the appeal of diamond jewelry. But, let’s understand the purpose and appeal of each category.
Natural diamonds continue to hold an unparalleled allure, deeply rooted in their rarity, geological history, and cultural heritage. They symbolize luxury, timelessness, and emotional significance, often marking milestone moments like engagements, weddings, and the creation of family heirlooms. Spending billions of years to be formed under the earth’s surface, natural diamonds command admiration from customers who associate lasting happiness and joy with the person they are buying it for, be it a self-purchase or a gift. Its journey of formation itself carries that value which, thanks to rising awareness, is of great value to its target audience irrespective of age barriers. Such consumers prioritize provenance, ethical sourcing, and origin determination, which reinforce the enduring appeal and exclusivity of natural diamonds.
On the other hand, lab-grown diamonds have carved out their own niche in the global jewelry market, starting with eco-conscious Millennials and Gen Z consumers in the United States. These synthetic diamonds appeal to buyers seeking sustainable and affordable alternatives. In India, a global hub for jewelry, the demand for LGDs is still at its nascent stage, because consumers are still understanding the product. Hence, there is a slow but steady growth in demand driven by their cost-effectiveness and the growing adoption of Western fashion sensibilities. Offering flexibility in design, LGDs are well-suited for trendy, everyday jewelry that embraces unconventional materials such as silver, tungsten, and titanium. They provide consumers with the freedom to explore unique styles while aligning with contemporary values of affordability and sustainability.
The distinction between natural and lab-grown diamonds is not merely academic—it is vital to maintaining consumer trust. Nomenclature is of paramount importance in this regard, as there are several ways to identify a lab-grown diamond. Since they are created in a controlled environment, their origin is different from those built by nature, and hence, must be positioned accordingly to extend confidence to customers of either segment. Thus, while both have their own value propositions, transparency in branding and communication is essential. Lab-grown diamonds should be presented as a distinct category, emphasizing their origin and purpose, rather than being combined with natural diamonds.
As the diamond industry evolves, embracing the differences between natural and lab-grown diamonds is key to unlocking their full potential. Each caters to specific consumer preferences—natural diamonds for their legacy and emotional resonance, and lab-grown diamonds for their modern, versatile appeal. Retailers and stakeholders must adopt tailored marketing strategies and far better quality in certification and grading standards to give consumers exactly what they bought their products for. While the entire supply chain needs to be strongly educated to firstly identify the differences and sell the right jewellery, retailers especially need to refine marketing messages to effectively communicate these unique value propositions. This can be done by conducting awareness workshops for end-consumers and often showcasing both varieties to them just for knowledge. All in all, by fostering transparency, differentiation, and synergy within the supply chain, the industry can ensure the sustainable growth of both segments, securing a bright future for diamond jewelry on a global scale.
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