The Gemological Institute of America (GIA) will introduce its ‘Finished Jewellery Report’ service in India starting this August, aiming to enhance transparency and build consumer trust in the jewellery market. The report will offer detailed information on each jewellery piece, including metal type, gemstone characteristics, and any engravings.

This initiative, already active in established markets like the United States, is part of GIA’s broader strategy to expand into high-growth regions. The organization plans to extend this service to other emerging markets, including the Middle East, Southeast Asia, and Latin America.

“In India, technology and innovation are key areas of focus,” said Pritesh Patel, GIA’s Senior Vice President and Chief Operating Officer, who is set to take over as President and CEO on August 4, 2025. “This new service will help increase consumer confidence by offering greater transparency.”

GIA President and CEO Susan Jacques emphasized the organization’s commitment to education and industry engagement. “With two of our largest laboratories based in India—Mumbai and Surat—we are deeply integrated into this key market,” Jacques said. She added that GIA is planning to establish a new laboratory in Surat, on land it already owns.

GIA is also collaborating with De Beers’ Tracr platform, a blockchain-based system designed to assure the authenticity and traceability of natural diamonds. India, which accounts for 11% of global diamond consumption and is a major hub for diamond manufacturing, remains a critical market for GIA’s global operations.

GIA, a leading non-profit authority in gemology, continues to uphold rigorous standards in research, education, and gemological services to support the global gems and jewellery industry.

India’s cut and polished diamond (CPD) industry is set for another challenging fiscal year, with the recent report ICRA projecting a 7-10 per cent decline in exports in FY2026, following a 17% contraction in FY2025, weighed down by weak global demand and increasing competition from lab-grown diamonds (LGDs), the sector’s outlook remains negative.

India’s cut and polished diamond (CPD) industry is set for another challenging fiscal year, with the recent report ICRA projecting a 7-10 per cent decline in exports in FY2026, following a 17% contraction in FY2025, weighed down by weak global demand and increasing competition from lab-grown diamonds (LGDs), the sector’s outlook remains negative.

The report by ICRA indicates CPD exports fell to a 20-year low of USD 13.3 billion in FY2025, impacted by a global macroeconomic slowdown and a growing consumer preference for cheaper, ethically sourced LGDs. These now constitute 8% of polished diamond exports, up from just 1% in FY2019.

Additionally, the recent imposition of a 27 per cent reciprocal tariff by the US, a key market accounting for over a third of India’s CPD exports, adds further pressure. Although currently paused with a 10 per cent interim tariff, exporters remain wary. Many are rerouting shipments through low-tariff hubs like Dubai and Belgium to mitigate the impact.

ICRA’s report also highlights that operating profit margins for CPD firms fell by 400 basis points in FY2025 to approx. 4 per cent, with ICRA predicting a further dip to 3.6-3.7 per cent in FY2026. The working capital cycle also remains stretched, burdened by high inventory amid declining sales and cautious rough diamond procurement.

Meanwhile, prices for both rough and polished diamonds have dropped sharply, by 8 per cent and 7 per cent respectively in FY2025, while production cuts from miners like De Beers are expected to keep rough prices range-bound.

Despite minor optimism for a recovery in bridal jewellery demand in the US in H2 FY2026, sustained weakness in Chinese demand and intensifying LGD competition continue to cloud the outlook. The CPD industry may need to adapt more aggressively to shifting consumer trends and tariff realignments to regain momentum.

On the bottom line, ICRA says the credit profile of Indian CPD entities is expected to remain weak in FY2026, characterised by modest earnings and a continued stretched working cycle.

Malabar Gold & Diamonds, one of the world’s largest jewellery retailers, has announced an ambitious expansion strategy, committing an investment of ₹5,000 crore to fuel its business growth in FY2026. The brand aims to significantly increase its footprint by opening 60 new showrooms across 15 geographies, including both domestic and international markets.

The company is targeting a revenue of ₹78,000 crore for the current financial year, up from ₹63,000 crore last year. M.P. Ahammed, Chairman of Malabar Group, said, “We have a comprehensive strategy to expand our retail and manufacturing network. Our goal is to reach ₹78,000 crore in turnover this year, backed by a ₹5,000 crore investment into new showrooms and infrastructure.”

Asher O, Managing Director – India Operations, reaffirmed the brand’s commitment to its home market, noting that India continues to offer the largest growth potential. “We are enhancing our presence across existing and new regions, aiming to be in 22 States and 3 Union Territories by the end of the financial year,” he said.

Internationally, Malabar Gold & Diamonds currently operates in 13 countries and is set to enter two new markets—New Zealand and Ireland—within the year. According to Shamlal Ahamed, Managing Director – International Operations, these expansions are part of the brand’s strategy to strengthen its global presence and tap into new customer bases.

With this aggressive growth plan, Malabar Gold & Diamonds is positioning itself as a formidable force in both Indian and international jewellery markets.