National News
Global Thought Leaders Converge at BDB Leadership Series to Shape the Future of the Gem & Jewellery Industry
Three-day event features global experts, cutting-edge research, and high-level discussions on innovation, market trends, and the future of diamonds—both natural and lab-grown.
The second edition of the Bharat Diamond Bourse (BDB) Leadership Series, themed “Polishing Our Future”, concluded successfully, drawing international experts and industry pioneers for three days of high-impact dialogue, research, and strategic insights into the evolving gem and jewellery landscape.
Hosted at the Bharat Diamond Bourse, the event kicked off with the Advances in Gem & Diamond Research & Technology (AGDRT) annual meet, led by the Gemmological Institute of India (GII). Over the first two days, research papers were presented on cutting-edge developments in gemology and diamond technology.
High-Profile Speakers & Global Collaboration
The final day featured the much-anticipated BDB Leadership Series. The event was inaugurated by H.E. Mr. Frank Geerkens, Consul General of Belgium in Mumbai, with a traditional lamp-lighting ceremony.
In his keynote, Anoop Mehta, President of BDB, addressed critical industry issues such as the recent US tariffs on Indian gems, global economic uncertainties, and the importance of engaging more deeply with ASEAN and Far East markets.
Industry Innovations and Market Trends
Tom Moses, Executive Vice President of GIA, delivered a virtual keynote on diamond origin and provenance technologies, also addressing participant queries related to certification and grading.
Liang Weizhang, Founder of Hubwis Strategic Creations, China, provided an in-depth look at the China and Hong Kong markets, outlining current shifts and long-term projections.
A powerful panel discussion on consumer trends in India and the Middle East featured:
- Pratap Kamath, MD, Abaran Timeless Jewellery
- KP Abdul Salaam, Vice Chairman, Malabar Group
- Siddharthaa Sawansukha, MD, Sawansukha Jewellers
All panelists agreed on strong growth momentum in both regions, particularly within the premium and bridal jewellery segments.
Fireside Chat & First-of-Its-Kind LGD-Natural Dialogue
A highlight of the day was an inspiring fireside chat between:
- Pranay Narvekar, Partner, Pharos Beam Consulting LLP
- Mithun Sacheti, Co-founder & Former CEO, CaratLane
Sacheti shared the inside story of CaratLane’s journey, detailing key decisions, challenges, and learnings that shaped the brand’s success.
A first-of-its-kind panel brought together voices from both the natural and lab-grown diamond sectors, moderated by consultant Nirupa Bhat. Speakers included:
- Smit Patel, Director, Greenlab LGD Diamonds
- Olivia Landau, Founder & CEO, The Clearcut (USA)
- Ashish Pethe, Partner, Waman Hari Pethe Jewellers
The discussion offered nuanced insights into consumer behavior, product positioning, and the future co-existence of both diamond categories.
Commitment to Industry Knowledge and Growth

Mehul Shah, Vice President of BDB, praised the event, stating: “This was one of the most educational and insightful industry gatherings in recent memory. The BDB Leadership Series continues to expand its scope and relevance, and we are committed to facilitating global dialogue that shapes the future of our industry.”
The event concluded with a vote of thanks by Jay Parikh, BDB Committee Member. With participation from experts across Russia, China, the U.S., and India, the event stood out for fostering international collaboration and driving conversations around innovation and industry consolidation.
National News
Gold Exchange Schemes See Surge In Demand
Nearly 25% Of All Jewelry Buyers Now Opt For Exchange Programs Instead Of Outright Cash Purchases
In 2026, India’s retail gold sector is witnessing a significant paradigm shift. Driven by a combination of macroeconomic factors and strategic government appeals, gold exchange schemes have emerged as a dominant trend. Nearly 25% of all jewelry buyers now opt for exchange programs instead of outright cash purchases, marking a substantial increase from previous years.
Key Drivers of the Exchange Trend
1. Record-High Gold Prices
The primary economic catalyst for this shift is the unprecedented surge in gold prices. As fresh gold becomes increasingly expensive, consumers are unlocking the value stored in their existing assets rather than stretching their liquid capital to make new purchases.
2. Government Advocacy and Import Reduction
The trend is heavily backed by national policy interests. Prime Minister Narendra Modi has actively appealed to the public to utilize old jewelry for new purchases rather than buying fresh gold. The strategic goal behind this initiative is to curb India’s massive gold imports, thereby strengthening the current account deficit and stabilizing the national economy.
3. Aggressive Jeweler Incentives
Jewelers have rapidly adapted to consumer demand and government alignment by lowering the barriers to entry for exchanges.
Two major policy shifts are driving this retail adoption:
- Zero-Deduction Exchange Schemes: Traditional penalties and melting losses that previously deterred consumers from exchanging gold are being eliminated.
- Relaxed Documentation & Purity Standards: Retailers are now accepting old gold sourced from any jeweler starting at a purity level as low as 9KT, even without original purchase bills.
Market Implications
The 25% Threshold: The fact that a quarter of all jewelry buyers are now choosing exchange programs signifies that gold recycling is no longer a niche or distress-driven activity; it has entered the mainstream consumer behavior matrix.
- For Consumers: This shift provides a highly liquid, cost-effective way to upgrade designs and maintain asset value without facing heavy financial hits or bureaucratic hurdles (like tracking down decades-old receipts).
- For the Economy: By circulating existing domestic gold back into the supply chain, India reduces its reliance on international bullion markets, directly answering the government’s call for macroeconomic resilience.
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