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INDRA: Transforming India’s Jewellery Industry with De Beers and GJEPC

INDRA, a pioneering collaboration between De Beers and GJEPC, aims to elevate the natural diamond sector in India, empowering retailers and consumers while unlocking vast growth potential.

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India’s jewellery market, one of the largest globally, is poised for a massive transformation. As the country’s economy continues its upward trajectory, reaching a $3.5 trillion GDP in 2025 and projected to hit $7.9 trillion by 2030, industries across the board, including jewellery, stand to benefit from the rise in disposable incomes and consumer spending.

The Indian jewellery sector, currently dominated by traditional retailers and fragmented in structure, is undergoing a shift with organized retail expanding rapidly. While India is the world’s second-largest jewellery market, it still faces untapped potential, particularly in diamond jewellery, which makes up less than 10% of the overall market. Natural diamonds currently contribute approximately $8.5 billion to the sector, with projections indicating significant growth opportunities.

To capitalize on these emerging opportunities, De Beers, in collaboration with the Gem & Jewellery Export Promotion Council (GJEPC), has launched INDRA—a groundbreaking initiative aimed at enhancing the visibility, desirability, and understanding of natural diamonds among both consumers and retailers.

Bridging Gaps and Building Trust

The jewellery market in India faces unique challenges, especially for retailers in smaller cities. Many of these businesses maintain deep-rooted relationships with their customers, but often lack the resources and knowledge to confidently sell diamond jewellery. INDRA aims to bridge this knowledge gap by providing retailers with essential tools and resources, including:

  • Business Intelligence: Insights into future market trends to help retailers stay ahead of the curve.
  • Consumer Education: Helping customers understand the value and authenticity of natural diamonds.
  • Training & Support: Offering retailers the confidence and expertise to market and sell diamonds effectively.
  • Technology Integration: Equipping retailers with tools for verification and merchandising intelligence.

This initiative goes beyond a traditional marketing campaign—INDRA is designed to empower the entire jewellery ecosystem, from manufacturers to consumers, ensuring that growth in the diamond sector is sustainable, transparent, and trustworthy.

Strategic Collaborations and Luxury Collections

A key focus of INDRA is strengthening the natural diamond category through strategic collaborations. One of the most significant partnerships has been with Tanishq, where De Beers is working on vertical integration, ensuring traceability and authenticity from rough diamonds to polished stones. This collaboration also led to the launch of the “Soulmate Diamond Pair” collection—a luxury jewellery line featuring couple bands with diamonds cut from the same rough stone, symbolizing unity and connection.

Looking Ahead

India’s jewellery industry stands at a critical juncture, with economic growth driving increased demand for premium, organized, and transparent retail experiences. INDRA represents a proactive step in meeting these demands, empowering retailers with the tools and knowledge to succeed in an evolving market.

With rising disposable incomes and an expanding consumer base, the demand for natural diamonds and premium jewellery is expected to soar. By strengthening the natural diamond narrative and supporting retailers across India, INDRA is positioning the country to become a global leader in the jewellery industry.

As the industry continues to evolve, initiatives like INDRA will play a pivotal role in shaping a prosperous, sustainable future for India’s jewellery sector, making it a significant player on the world stage.

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Aspect Bullion & Refinery to launch 50 gold and silver vending machines nationwide on Akshaya Tritiya

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Aspect Bullion and Refinery, a division of Aspect Global Ventures, has announced plans to roll out 50 gold and silver vending machines in the next 12-18 months. These state-of-the-art bullion vending machines have been indigenously developed by Aspect Bullion, assuring complete control over the planogram, software backend, and customer interface, reinforcing Aspect Bullion’s commitment to innovation, transparency and consumer trust. Strategically designated to be placed at high-footfall locations such as major malls, airports, temples, airports and more, the vending machines are designed to make purchasing precious metals faster, safer, and more accessible than ever before. Very soon, the brand will open another store in Mumbai and begin exploring franchise opportunities across India.

In the lead-up to Akshaya Tritiya — a festival synonymous with prosperity and gold purchases — Aspect Bullion has unveiled its first bullion vending machine at R City Mall, Ghatkopar, Mumbai. Shoppers can experience this innovative offering firsthand from April 26 to May 4, 2025.

Commenting on the initiative, Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA) and Executive Chairperson, Aspect Global Ventures said, “Gold and silver have always been an important part of India’s culture and traditions. With our vending machine, we are combining tradition with technology to make buying precious metals easier, safer, and more transparent. Our goal is to give people a simple, convenient, and trusted way to invest in gold and silver. We are proud to launch India’s first bullion vending machine, and we believe this will change how consumers buy precious metals, especially during important occasions like Akshaya Tritiya.”

Each vending machine will offer a curated range of gold and silver coins and bars, featuring exclusive designs and premium packaging. Equipped with real-time market pricing, customers can view live rate updates at the point of purchase.

Security has been a top priority: the machines feature biometric authentication, live CCTV surveillance, backend tracking, and robust anti-tampering technology. Purchases can be completed in under three minutes using a variety of payment options, including UPI, Google Pay, and debit/credit cards. A digital and printed receipt is provided instantly, making the process seamless — simply select, pay, collect, and go. This seamless process allows customers to take spot possession of gold and silver coins, making the purchasing experience truly worthwhile

Aspect Bullion’s vending machine rollout marks a significant shift toward a modern, tech-enabled future for bullion retail in India — while staying true to the tradition and trust that gold embodies.

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Gold prices in India, international market dip sharply

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Gold prices in India today fell sharply just two days ahead of the major gold-buying festival, Akshaya Tritiya 2025, which will be celebrated on April 30 (Wednesday). The gold rate in India at the beginning of this week showed signs of weakness, following the global spot gold price trend.
As of Monday, April 28, the 22-carat gold rate in India slipped massively by Rs. 620 per 10 grams to cost Rs. 89,400 per 10 grams. While the 24-carat gold prices today dropped hugely by Rs. 680 and are currently at Rs. 97,530 per 10 grams. Similarly, the 18-carat gold rate today retails at Rs 73,150, which dropped by Rs 510.

Gold rates in India are mirroring international market movements. US Gold prices dropped on Tuesday as softening trade tensions between the U.S. and its trading partners dulled the metal’s safe-haven appeal, while investors awaited U.S. economic data to assess the Federal Reserve’s policy path.Spot gold was down 0.8% at $3,314.65 an ounce, as of 0619 GMT. U.S. gold futures lost 0.7% to $3,324.20.

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Hari Krishna Exports Mumbai Office celebrates sports day 2025 with energy and smiles

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Hari Krishna Exports’ Mumbai office came alive with cheers, excitement, and team spirit during the Annual Sports Day 2025.The event was organized to promote better health, stronger unity, and a sense of teamwork among employees.

Esteemed dignitaries from the diamond industry, along with Ghanshyambhai Dholakia and his family, graced the occasion and encouraged everyone with their presence.

The day began on a heartfelt note with the National Anthem, setting a patriotic tone. Soon after, the field lit up with energy as the games began in full swing.
From cricket tournaments and volleyball to ring football, tug-of-war, kabaddi, kho-kho, running races, and box cricket — both male and female employees participated enthusiastically with bright smiles.
It was wonderful to see everyone, from the youngest members to senior leaders, stepping onto the field with equal excitement.

Winners and runners-up were rewarded with cash prizes, diamond jewelry, branded shoes, and sports watches — a token of appreciation from Hari Krishna Exports for their efforts and team spirit.

To beat the summer heat, ORS water stalls were set up, and a delicious lunch was arranged for everyone.The event was even more special as employees’ families were also invited. Their cheers and support added warmth and joy to the entire atmosphere.

Ghanshyam Dholakia, our visionary founder, shared heartfelt words, praising the energy, effort, and passion shown by every member present.He said, “I saw the energy and love for sports in every participant, from the youngest to the oldest. It made me very happy.””My Hari Krishna team is like my family. I will continue to organise such activities every year with this familyEven those who did not win in this competition are winners for me.”

Sports Day 2025 was not just a celebration of fitness and fun but also a beautiful reminder of the togetherness that makes Hari Krishna Exports truly a family.

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