National News
Candere Founder Rupesh Jain Launches Lab-Grown Diamond jewelry Brand Lucira; Taps into Booming Industry Potential
The company plans aggressive two-year roadmap for phased omnichannel expansion
Rupesh Jain, the digital jewelry pioneer who built Candere into one of India’s most successful online fine jewelry platforms before its acquisition by Kalyan Jewellers, is returning to the spotlight with a bold new venture, Lucira. A modern lab-grown diamond jewelry brand, Lucira is built for today’s conscious, design-forward consumer and aims to transform the way people engage with fine jewelry.
Positioning itself as the unrivalled “Rings King,” Lucira focuses exclusively on celebrating proposals, weddings, anniversaries, and personal achievements with intentional design and ethical brilliance. Lucira is born out of a simple but powerful idea: that luxury can be meaningful, personal, and responsible. Inspired by the Latin word Lucent, meaning “to shine,” the brand represents purity, brilliance, and a commitment to illuminating life’s most cherished moments with jewelry that reflects values as much as beauty. Merging heritage craftsmanship with cutting-edge innovation, Lucira combines AI-led personalization, certified lab-grown diamonds, and a seamless digital-first experience to build trust and intimacy in an industry that has traditionally relied on opaqueness and excess.
The launch of Lucira comes at a time when lab-grown diamonds are reshaping the fine jewelry landscape, both in India and globally. These diamonds are physically, visually, and chemically identical to mined diamonds, offering the same brilliance and longevity—but at a significantly lower financial cost. Certified by IGI, GIA, SGL, and Hallmark, Lucira diamonds offer complete transparency and assurance of quality. Each piece is handcrafted by artisans who blend traditional techniques with contemporary elegance, creating jewelry that celebrates individuality and connection.
Currently available online with nationwide delivery, Lucira will soon debut its flagship experience stores in key metros, followed by an ambitious retail expansion across India and global markets. With a phased omnichannel growth strategy, the brand is poised to become India’s first global lab-grown diamond luxury house.

Rupesh Jain, Founder of Lucira said, “Our vision is to create a premium, design-led fine jewelry destination that begins online and extends into beautifully curated physical spaces. With AI-powered customization, virtual try-ons, and seamless e-commerce, we’re meeting customers where they are digitally native, value-conscious, and experience-driven. Our upcoming flagship stores will bring this vision to life, blending the ease of technology with the emotion of touch. As we expand across India and into global markets, our goal is simple: to make Lucira synonymous with modern luxury that’s personal, purposeful, and proudly Indian.”
Lucira is carving a niche in the fast-evolving bridal jewelry space, with a sharp focus on solitaires, bespoke engagement rings, eternity bands, and convertible pieces for everyday wear. The brand has introduced five exclusive signature cuts, each designed to maximize light, emotion, and brilliance. These aren’t just rings, they’re declarations of love, symbols of milestones, and heirlooms reimagined for a new generation.
Jain added, “Lucira is about elevating meaningful moments with timeless design and ethical brilliance. We’re not just shaping rings, we’re shaping what they represent in today’s world.
For Rupesh Jain, Lucira is more than a comeback, it’s a vision for the future of fine jewelry. One where innovation, ethics, and emotional resonance converge. India’s robust diamond manufacturing ecosystem and supportive government policies provide an ideal backdrop for Lucira’s ambitions. Jain believes India is uniquely positioned to become a major supplier and brand builder in the global LGD market, which has already seen strong demand in international markets as well.
National News
AIJGF Proposes Regulated “Bullion Bank”, Proposal Presented Directly To Union Commerce and Industry Minister
Establishes A Centralized Financial Framework To Pool, Standardise, Settle, and Lease Domestic Gold
The Ministry of Commerce and Industry is officially reviewing a landmark proposal to establish a regulated “Bullion Bank” aimed at transforming India’s massive domestic gold reserves into an active economic asset.
The proposal was presented directly to Union Commerce and Industry Minister Piyush Goyal by a delegation from the All India Jewellers and Goldsmith Federation (AIJGF). In response, Minister Goyal has agreed to form a comprehensive consultation committee—comprising government representatives, jewellery industry stakeholders, bullion market experts, financial institutions, and market regulators—to thoroughly examine the framework.
Key Highlights of the Proposal:
- Activating Idle Wealth: Establishes a centralised financial framework to pool, standardise, settle, and lease domestic gold, significantly reducing India’s heavy reliance on expensive foreign imports.
- Tapping a $4 Trillion Market: Aims to mobilse the estimated 25,000 to 27,000 tonnes of gold held by Indian households, temples, and private institutions—a stockpile currently valued between $3.65 trillion and $4.3 trillion.
- Earning Interest on Gold: Transforms physical gold from a passive, non-yielding asset into an active, interest-earning investment, eliminating traditional locker storage fees for citizens.
- ETF Integration: Proposes allowing Gold Exchange-Traded Funds (ETFs) to lend 20–30% of their idle physical holdings back into the jewellery ecosystem under strict over-collateralised, insured, and daily marked-to-market safety protocols.
A Strategic Move for Economic Resilience
Currently, the vast majority of India’s gold wealth remains locked away and unproductive. By acting as a trusted intermediary, the proposed Bullion Bank will allow households and institutions to securely lend their gold back into the domestic jewellery ecosystem.
“This framework has the potential to permanently change how India manages its gold,” stated the AIJGF in their proposal. “By unlocking domestic reserves, we can stabilise the market, support local artisans, and strengthen the national economy.”
To ensure seamless execution and regulatory oversight, the AIJGF has also requested the creation of a dedicated inter-ministerial task force. This body would bring together the Ministry of Finance, the Ministry of Commerce, and the Ministry of Consumer Affairs to oversee the initiative’s roll-out.
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