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GEMS & JEWELLERY BANKING SUMMIT 

The GEMS & JEWELLERY BANKING SUMMIT held in Mumbai addressed the critical issue of perceived lack of transparency in the GJ industry, due to which bankers are reluctant to finance GJ businesses to a large extent. The industry is facing challenges such as higher interest rates on business loans, lack of transparency on the banking policy, and limited access to bank loans. 

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Avenues explored for enhancing access to finance, fostering entrepreneurship and catalysing digital transformation

The GEMS & JEWELLERY BANKING SUMMIT held in Mumbai addressed the critical issue of perceived lack of transparency in the GJ industry, due to which bankers are reluctant to finance GJ businesses to a large extent. The industry is facing challenges such as higher interest rates on business loans, lack of transparency on the banking policy, and limited access to bank loans. 

The Gems & Jewellery Banking Summit was inaugurated at the Jio World Convention Centre, Mumbai .Present at the inauguration were Sachin Jain, CEO -WGC, Saiyam Mehra, Chairman -GJC, Rajesh Rokde, Vice Chairman-GJC ,Ravi Prakash Agarwal, Director-GJC and Convenor – Gems & Jewellery Banking Summit, Sunny Dholakia, Co Convenor -Gems & Jewellery Banking Summit, committee members of GJC and dignitaries of the GJ industry and banking & finance sector.

Gems & Jewellery Banking Summit, an initiative of GJC, is presented by WGC. The Summit is powered by ShreeKunj- Kolkata and supported by Banglore Refinery, Mukti Gold , Yes Bank and Laxmi Diamonds, Bengaluru.

The GJ sector communicated to the banks and financial institutions that they want to be treated like any other mature sector. Saiyam Mehra,Chairman- GJC in his inaugural welcome address said “Like other industries, GJ sector is also transforming. The GJ sector is requesting all bankers to treat GJ industry on par with other industries; keep interest rates at 8-9 % with a spread of 0-1%. Additionally the industry is seeking easier policies and facilitation for EMI based buying facilities for end-consumers, credit card swiping interest rates and EDC/POS machine implementation in every retail showroom.”

An advantage of dealing with GJ SECTOR was underscored at the summit::This industry not only provides sales profit but also benefits from price increases. Gold prices rarely decrease, so the increased price profit is also shared with the bankers. Furthermore, the domestic G&J sector has a unique modus operandi, requiring proper KYC of the end consumer, creating a database for more transparency in the sector.

Leading players from the GJ and banking sectors held intensive panel discussions. The session on Strength of the GJ industry: Financing opportunities for Bankers & Building resilience in the GJ industry pointed out that for a long time banks viewed the GJ sector with scepticism. But, there has been a change in the relationship with industry getting organized, especially post the Gold Control Act. There was a unanimous opinion that compliance, governance, ethical and efficient accounting were key to building a reputation as an ethical player. It was essential to share data with banks, maintain accounts and meticulous documentation.

In Understanding of Financial Tools for Jewellery Industry the panelists underscored the importance of taking advantage of facilities offered by banks if one wishes to grow. It is imperative to get a credit rating for one’s business. Finance is based on data, not just on collaterals. There was an intense discussion on the features and modalities of gold metal loan including the fact it is an affordable way of funding and that it is a pure hedge. There were various suggestions from the panel and the audience on how the GML could be streamlined and contributed to ease of doing business.

In the Banking strategy to revitalize and empower session panellists concurred that  jewellery industry must take cognizance of the fact that to grow and expand one cannot rely on internal accruals; one has to avail of the funds and products available from banks. The panel concurred that there was lack of awareness on why one should avail of credit – especially against a rising asset like gold.A large percentage of jewellers don’t want to take a loan or don’t get loans because of improper financial statements and documentation. 

The panellists in the session Risk Management Mechanism stressed on understanding and respecting regulations and laws of the land .Ratings and credit scores that demonstrate creditworthiness are crucial. It is important to understand that banks don’t wish to place any hindrances, they just work within regulatory and risk management guidelines. Compliance and transparency will be crucial in upliftment of the GJ industry.

The summit concluded on a positive note with both parties keen on continuing the conversation. As Sachin Jain stated that we may not have all the answers and solutions at the end of the summit, but it is encouraging that we have commenced a dialogue.

The next edition of the GEMS & JEWELLERY BANKING SUMMIT is scheduled for 17 May 2025.

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JB Insights

The Woman Wearing The Diamond Was Never The One The Ad Was Talking To

Disha Shah, Founder & Designer, DiAi Designs Says That The Brands That Shift From “She Deserves It” to “She Chose It” Won’t Just Win Cultural Relevance – They’ll Own The Future Of Jewellery Marketing.

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Indian jewellery advertising has always centred the woman. She has been the face of every campaign, draped in gold, luminous at the occasion, receiving the gift with practised grace. What she rarely was, until recently, was the intended audience.

The creative language of the category was built around a genuine economic reality. For decades, the buyer in Indian fine jewellery was the patriarch, the husband, the father, the family elder making a financial decision on behalf of a woman whose purchasing autonomy was limited. Advertising followed the money. The gift reveal, the bridal close-up, the family approval shot: these were not arbitrary creative choices. They reflected who held the purse strings, and they became so embedded in the category’s visual grammar that they outlasted the conditions that created them by an entire generation.

That structural reality has now reversed. Jewellery purchases now extend beyond weddings and festivals to daily wear, driven by financially independent working women. The self-purchasing woman is no longer an emerging segment; she is the category’s fastest-growing buyer, approaching the decision differently from the buyer the industry originally designed itself around. She is not waiting for an occasion. She is not waiting for someone to present a box. She researched the piece, chose it, and bought it because she wanted it.

The advertising, for the most part, has not caught up.

Some brands are beginning to recognise this. CaratLane’s #WearYourWins movement and Tanishq’s sustained push toward the “woman as decision-maker” are meaningful steps. But what makes these campaigns commercially smart is not just cultural alignment. Research from Harvard Business School finds that women systematically provide less favourable assessments of their own performance and potential than equally performing men. This documented self-promotion gap persists even when women know they have outperformed others. Campaigns that actively celebrate female self-recognition are not just filling a creative gap. They are responding to a behavioural reality that has gone largely unaddressed in the category. The brands doing this well are not being progressive for their own sake. They are being accurate about who their buyer is and what she needs to hear.

Look at the Women’s Day 2026 campaigns across the industry. The conversation is clearly starting to pivot. Brands are finally stepping away from the usual gifting tropes and reframing jewellery as a tool for personal milestones and self-expression. But these remain exceptions. The dominant campaign language of Indian jewellery- the gesture, the reveal, the woman being seen rather than deciding- has not structurally changed.

The media mix tells the same story. Titan leaned heavily on television in FY25, with ad volume surging to 77% of its mix, a broadcast medium built for household reach rather than the individual, financially independent woman who now represents the category’s fastest-growing buyer.

Meanwhile, digitally native BlueStone achieved 50% of online jewellery ad volumes on a budget nearly ten times smaller than Titan’s. The channel that reaches the self-purchasing woman directly is delivering outsized results on a fraction of the spend. The implication for where the industry should be directing its creative attention is fairly clear.

Consider what a brief genuinely written for this buyer would look like. No occasion in the shot. No second person in the frame presents anything. The opening line is not “for the woman who deserves to be celebrated.” It is “she saw it, she wanted it, she bought it.” The product earns its place not through sentiment but through desire. The copy does not explain why she is worth it. It assumes she already knows. That is not a tonal adjustment. It is a fundamentally different creative architecture, and very few briefs in this category have been written that way.

The LGD category has a specific opportunity here that established houses do not. Without decades of legacy campaign language to protect, an independent designer in this space can build advertising from a blank page, one written entirely around the woman who is actually making the purchase. The brief does not have to accommodate inherited assumptions about who the buyer is or what she is waiting for. That is not a small advantage. In a category where the dominant creative language was built around a buyer who is no longer the one making the decision, starting without that inheritance may be the most powerful creative position available.

The woman wearing the diamond has always been visible. What is changing now is who gets to decide. The brands that build their creative around that reality will not just be more culturally relevant. They will be better positioned for every year that follows. The advertising has not caught up yet. But the buyer already has.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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