JB Insights
Success is driven by delivering exceptional design,aspirational products, innovation, quality and service
Nirav Bhansali, CEO- Prism Jewellery, speaking to JewelBuzz, provides deep insights into the dynamics of the global and domestic diamond sector, the challenges, opportunities, consumer trends and the way ahead.
Give us a current overview of the diamond sector.
The diamond sector went through its toughest period last year. It was one of the biggest slowdowns that the industry has faced in many, many years. And that came on the back of a very robust post -COVID era of 2021 -2022. But last year was really difficult. But now we are at the bottom of the cycle in terms of demand as well as in terms of the pricing. Last two months have shown very good resilience, prices have firmed up. In fact, in certain areas, we are seeing shortages in categories like smalls and some even in bigger sizes and fancies in certain shapes., So, it looks like that we are now at the bottom and the things will improve from here on.
Comment on the Indian diamond industry scenario.
Indian diamantaires have consistently demonstrated remarkable resilience and innovation, enabling the country to dominate the global diamond trade. This success stems from their risk-taking abilities, cost efficiencies, innovative approaches, and extensive global outreach.
The Indian diamond industry continues to thrive, demonstrating resilience in the face of global trade complexities. While jewellery exports encounter challenges in certain markets due to varying import duties, the export of loose diamonds remains largely unaffected by such barriers.
As a raw material, loose diamonds face limited import duties in most countries. This favourable trade environment significantly boosts exports. The export of loose diamonds from India remains strong due to limited import duties in most countries.
What is the mantra for the diamond industry’s growth?
For consistent growth and sustainable growth in the diamond sector, I think there is only one way. We need to focus on unique designs and innovation. We need to make very aspirational products that can compete with other categories like travel, like electronics, phones, and bags, luxury products. So if our products, our marketing, and everything is very innovative world class, I think we have a great opportunity. This is the only way we can capture a bigger share of the consumers wallet.
With a renewed emphasis on design excellence and evolving consumer preferences, the Indian diamond industry is well-positioned for a strong recovery– in terms of export numbers as well as prices and inventory levels.
Comment on youth consumer segment driving demand for diamonds.
The diamond industry can look forward to sustained growth, driven by a strong demand from Gen Z and Millennial consumers. Jewellery consistently ranks among the top 2-3 aspirational items for these generations, with diamonds holding a prominent position.
Data from major markets like the USA and Europe corroborate this trend. Surveys consistently indicate that Gen Z and Millennial women, in particular, view diamond jewellery as a highly coveted possession. This generation, with their appreciation for luxury and self-expression, will continue to be a significant driver of diamond demand for many years to come.
This positive outlook reinforces the industry’s confidence in the enduring appeal of diamonds across generations.
The natural diamonds v/s LGD discussions and debates continue. Your take on this issue?
The rise of lab-grown diamonds has emerged as a significant force within the global jewellery market, prompting a shift in the industry landscape. While initially perceived as a threat, industry leaders are increasingly viewing lab-grown diamonds as a distinct market segment with immense growth potential. It is seen not as a challenge but an opportunity.
Lab-grown diamonds are not a fad; they are here to stay. they represent a significant opportunity, with the potential to surpass natural diamonds in terms of carat volume in the coming years.
The United States provides a compelling example of this trend, with lab-grown diamonds now accounting for over 50% of the jewellery market. Similar shifts are observed globally, suggesting that lab-grown diamonds will become a dominant force in the near future.
However, industry leaders emphasize that lab-grown diamonds should not be viewed as a threat to the natural diamond market. Both segments cater to distinct consumer aspirations and price points. Natural diamonds will continue to hold significant emotional value and appeal to a discerning clientele.
The Indian diamond industry is actively embracing this evolving landscape. We are not only polishing lab-grown diamonds but also actively contributing to their growth
Lab-grown diamonds are poised to become a dominant force in the global jewellery market.
The Indian diamond industry is actively embracing lab-grown diamonds as a new market segment. Both natural and lab-grown diamonds will coexist, catering to distinct consumer segments and price points. The Indian industry is well-positioned to capitalize on the growth of the lab-grown diamond market through its expertise in polishing and manufacturing.
How is technology, including AI and blockchain, transforming the Indian diamond industry?
The Indian diamond industry is at the forefront of technological innovation, leveraging blockchain and AI to revolutionize operations. Blockchain adoption has enabled end-to-end visibility into the diamond supply chain, enhancing transparency and efficiency. The industry is currently in the early stages of AI adoption (AI 1.0) but anticipates rapid advancements that will transform production, distribution, and consumer engagement.
To fully harness AI’s potential, industry leaders advocate significant investments in AI research and development, aiming to build an ecosystem that drives growth and innovation. With a proven track record in adopting new technologies, the industry is well-positioned to integrate advanced AI seamlessly, further strengthening its global competitiveness.
It is anticipated that AI will soon become an indispensable tool for all industry players, further enhancing efficiency, transparency, and overall competitiveness.
Comment on government’s support for the diamond sector
The Indian government has played a pivotal role in supporting the diamond industry, significantly contributing to its global dominance. Through close collaboration with organizations like the Gem and Jewellery Export Promotion Council (GJEPC) and other industry bodies, the government has consistently addressed the sector’s needs and swiftly resolved challenges.
The government is actively working to address the challenges faced by the jewellery sector through the negotiation of bilateral trade agreements, such as the Special Economic Partnership Agreements (SEPAs) and Free Trade Agreements (FTAs).
This proactive and supportive approach has empowered the Indian diamond industry to overcome obstacles and maintain its market leadership worldwide. Industry leaders have expressed gratitude for the government’s commitment to fostering growth and innovation within the sector
Comment on ESG, social responsibility in the Indian diamond sector
The diamond sector, especially in India, is very, very conscious towards ESG. They are very strong on environment, social governance. They look after the people, they look after the community, society. Also, charity and philanthropy is very much on the agenda.
Indian diamantaires are at the forefront of social responsibility, actively contributing to charitable causes and embracing sustainability. Major industry players, including leading site holders, are transitioning their operations into zero-carbon and green units by leveraging renewable energy from non-conventional sources.
GJEPC is championing this transformation through its “One Earth” initiative, which promotes environmental awareness across the entire gems and jewellery sector—from large retailers to small-scale manufacturers.
What’s the strategy for growth at Prism Jewellery?
At Prism, we prioritize exceptional design and uncompromising quality, placing both at the core of our mission. Our commitment to creating distinct, innovative, and aspirational products is fuelled by cutting-edge technology and a relentless focus on delivering superior quality and service to our customers worldwide. We envision a bright future for Prism and the Indian diamond sector in the years ahead.
Whether natural or lab-grown, success in this industry ultimately hinges on delivering exceptional design, innovation, quality, and service. With this focus, Prism is well-positioned to capture a significant share of this thriving market, driving growth and success in the decade ahead.
What is in store for the diamond sector and the GJ industry? Provide us an outlook for the diamond sector.
The Indian market is a driving force in this category, with gems and jewellery contributing 10% to India’s GDP and growing at an annual rate of 10%. This robust momentum is expected to sustain for years to come, supported by the rapid opening of new stores and growing investor confidence. Successful IPOs and significant interest from private equity firms underline the sector’s vitality. Easy access to capital, coupled with innovation and consumers’ enduring preference for jewellery, makes this a golden period for the industry.
Across the broader gems and jewellery sector—including gold, silver, diamond-studded, and lab-grown categories—every segment holds immense potential and growth opportunities in the Indian market. Globally, while the growth pace is more modest, markets like the U.S. continue to expand steadily by 2-3% annually on a large base. This global demand highlights the enduring appeal of jewellery, even in a crowded luxury landscape.
Experts anticipate a robust year ahead, marked by higher export numbers, improved prices, and better inventory management, reinforcing India’s leadership in the global diamond sector.
By Invitation
You asked, we answered: Gold hits $3,000 – What comes next?
By Juan Carlos Artigas
Global Head of Research-World Gold Council
Key highlights
- Gold’s new milestone: Gold recently crossed US$3,000/oz intraday – a headline-worthy event, but the true significance for gold lies in the broader economic trends driving its rise
- Price momentum: Gold surged from US$2,500/oz to US$3,000 in just 210 days, pushing it three standard deviations above its 200-day moving average
- Market fundamentals: While gold may face some consolidation due to the speed of its latest move, the combination of geopolitical and geoeconomic uncertainty, rising inflation, lower rates and a weaker US dollar continue to provide powerful tailwinds to investment demand.
Gold (briefly) breaks through another psychological level
Gold crossed US$3,000/oz in intra-day trading during the early hours of Friday 14 March and then again on Monday 17 March.1 While the LBMA Gold Price PM hasn’t officially crossed the mark, setting at US$2,996.50/oz on Monday, it has nonetheless grabbed the attention of investors and media outlets around the world, triggering a myriad of questions about its significance.
So, what does this milestone really mean? Depending on who you ask: a lot or not much at all. For us, there are interesting psychological and technical aspects about this triple-zero ending price that could influence gold’s short-term behaviour. But the more meaningful – and lasting – dynamics are the ones behind gold’s performance over the past several months.
What’s meaningful about gold’s move?
Gold reached more than 40 new all-time highs in 2024 and fourteen more so far this year.2 Its upward move has been no coincidence and, in our most recent Gold Market Commentary, we talked about a potential perfect storm forming for gold. The focus isn’t just the number itself but the pace at which gold has reached it. The jump from US$2,500/oz to US$3,000/oz took just 210 days – a notably faster move that underscores the momentum gold has built over the past two years (Chart 1). Compare that to the approximate 1,700 days that gold took, on average, to achieve previous US$500/oz increments, and the move stands out (Table 1).
In fairness, gold had to double in price to go from US$500/oz to US$1,000/oz, while it only had to rise 20% to go from US$2,500/oz to US$3,000/oz. To provide additional context, gold has increased nearly sixfold since December 2005, when it first reached US$500/oz, equivalent to an annualised return of 9.7%. Over the same period, the S&P 500 spot index has increased at a rate of 8.2% per year.3
To take this relative movement into account, we look instead at how much gold has deviated from its 200-day moving average (200DMA). The recent rally has pushed gold’s price three standard deviations (3σ) above the long-term average spread of its 200DMA (Chart 2). Most recently, we saw this extreme divergence during the COVID-19 pandemic in 2020 when gold crossed US$2,000/oz and again around the time gold reached US$2,500/oz. Following these moves there was a period of consolidation before the upward trend eventually resumed.
What’s next?
As the saying goes, “even strong rallies need to catch their breath.” Gold has remained, on average, above previous multiples of US$500/oz for nine days before pulling back (Table 1). At the same time, however, gold has rebounded above the same level in just a few days four out of five times.
From a technical and positioning standpoint, if gold were to remain above US$3,000/oz over the next couple of weeks, it would likely trigger additional buying from derivatives contracts. For example, we estimate there is roughly US$8bn in net delta-adjusted notional in options contracts from US gold ETFs that expire Friday 21 March,4 and US$16bn in options on futures that expire on 26 March. While this may create a slingshot effect, it could also trigger short-term-profit taking.
In view of the speed of gold’s latest move, it would not be surprising to see some price consolidation. But despite potential short-term volatility, the most important determinant for gold’s next move is whether fundamentals can provide long-term support to its trend. As we discussed in our recent Gold Demand Trends, while price strength will likely create headwinds for gold jewellery demand, push recycling up and motivate some profit taking, there are many reasons to believe that investment demand will continue to be supported by a combination of geopolitical and geoeconomic uncertainty, rising inflation, lower rates and a weaker US dollar.
JB Insights
GJIIF 2025: South India’s Premier Jewellery Exhibition Delivers Exceptional Results with High Footfall and Robust Sales
GJIIF provides strong boost as trade prepares for Akshaya Tritiya
- Marked increase in Pan-India visitors and International participants
- Significant retailer presence – from small stores to corporate chains
- Concurrent events – Networking Evening and Knowledge Seminars – add sparkle to the show
The Akshaya Tritiya edition of South India’s oldest and most premier B2B jewellery event, Gem & Jewellery India International Fair (GJIIF) 2025 was a resounding success with turnout and business transactions exceeding expectations all round.
The venue remained crowded on all the three days with over 10,000 visitors, and the general overall feedback indicated that exhibitors were extremely satisfied having registering outright orders. Most also reported success in widening their clientnetwork with new potential contacts.
GJIIF, organised by the Jewellers and Diamond Traders Association, Madras (MJDTA) and Tamil Nadu Jewellers Federation (TNJF), is the only B2B jewellery show in the country with an exclusive focus on South Indian jewellery. This edition, held from February 28 to March 2, 2025 was well timed to help the trade prepare for the all-important Akshaya Tritiya festival.
Jayantilal Challani, Convener-GJIIF and President, MJDTA, said, “This year GJIIF was bigger and better in many ways. Not only were there more exhibitors and visitors than before, we also saw positive sentiment driving business deals. As the only show focusing on South Indian jewellery, GJIIF has become a must-visit event for large corporates and multi-store retailers, as well as huge numbers of smaller and medium retailers from the region.”
The show had over 400 exhibitors spread over 870 stalls covering a mammoth 2,00,000 sq ft area. These included many renowned manufacturers and wholesalers, most of whom have now been present at the show consistently for years. They believe GJIIF is the ideal platform to introduce new designs for the Akshaya Tritiya festival to the trade and feel GJIIF as the Gateway to South Indian Jewellery Market. Many new exhibitors also attracted attention with their innovative and creative offerings.
Over the years, the profile of the GJIIF has evolved from being a purely regional trade show to one that attracted visitors from all across India. This year, GJIIF took a further leap, welcoming a large number of overseas buyers including leaders of trade bodies from South Asia and South-East Asia too. Business visitors from Malaysia, Sri Lanka, Russia, Middle East, China and a few other places were also present.
Emphasising the key role that GJIIF plays for the retail trade, B Sabarinath, President TNJF said, “Most exhibitors not only had many visitors but also reported good business. Every visitor was keen to book orders to ensure that they have new collections for the auspicious wedding & festival season up ahead. There was a vast variety of choice, with many new designs that gave a contemporary look to the traditional southern ornaments.”
GJIIF has also been recognised as a premier trade event due to its business-friendly environment. Registration procedures, both prior to the event and at the show, have been streamlined for easy entry while maintaining strict B2B norms. The well-organised layout and the hospitality arrangements go a long way in allowing participants to focus on their business goals.
“The Organising Team aims to raise the bar each year while planning and executing GJIIF to ensure the highest standards in the arrangements and hospitality of top quality,” said V.K. Manoj, Project Director, United Exhibitions, the event managers. “GJIIF is a landmark event for the South Indian industry, with the entire jewellery fraternity – from the largest to the smallest – visiting the show to do business and network.”
Alongside, the main show there are also concurrent events of equally high quality & focused seminars, panel discussions and educational presentations to enhance knowledge-sharing and future preparedness.Among thehighlights of the three-day event were the Networking Nite & Gala Dinner for the informal interaction where the attendees were enthralled by the high-powered performance of world-renowned band STACCATO, a well know name in global musical circles.
GJIIF Festive Edition 2025 will be held in Chennai from 12th to 14th September 2025.
JB Insights
JMAIIE 2025 places the jewellery machinery sector firmly in the spotlight
Show featured 300+ exhibitors, saw 6000+ visitors in attendance
Jewellery Machinery & Allied India International Expo (JMAIIE 2025), the fourth edition of the largest show dedicated to manufacturing technology, ended on a very successful note, with healthy business across all machinery categories. JMAIIE 2025featured 300+ exhibitors with nearly 70% of them representing top global players.The event generated significant awareness through both online and offline promotions, attracting a large number of visitors. The show saw 6000+ visitors in attendance, both from India and abroad. JMAIIE is organized by KNC SERVICES and powered by JEWELLERY MACHINERY & ACCESSORIES FORUM
JMAIIE provided an unparalleled platform to showcase jewellery manufacturing technology from India and across the globe.JMAIIE is one of the most anticipated exhibitions in the jewellery manufacturing machinery industry, bringing together leading manufacturers, exporters, and professionals from across the globe. The show proved itself as a dynamic platform for showcasing technology, innovation, and manufacturing expertise.
JMAIIE 2025 was inaugurated at BEC, Mumbai by Chief Guest Farhad Sethna, Chairman-JMA Forum, alongwith Guest of Honor Kevin James, Managing Director – Goodwin Refractory Services India Pvt. Ltd. Present at the inauguration were Kranti Nagvekar, Founder- KNC Services, Naresh Balani, Vice Chairman – JMA Forum,members of JMA Forum and other dignitaries from the G&J Industry.
“JMAIIE is firmly established in the global calendar of jewellery machinery expos. JMAIIE is reaching further and wider than before”, said Kevin James.
“JMAIIE is first exclusive platform for jewellery machinery. With every edition we are heading in the right direction to make JMAIIE the biggest in the world”, said Farhad Sethna.
“JMAIIE is a game-changer, driving technological advancements that redefine the jewellery industry. As we celebrate the 4th edition with KNC, we embrace AI and innovation in jewellery machinery, shaping a brighter future for India and Asia.” said Chetan Kumar Mehta-. President- Jewellery Division, IBJA – India, President – Jewellers Association Bengaluru Chairman & Managing Director – Laxmi Diamonds, Bengaluru.
A highlight at JMAIIE was the INNOVATIVE PAVILION . Cutting edge technological innovations were showcased at the pavilion. The Pavilion featured innovations from UNITED ENTERPRISE, ACZEL, MAXSELL, GB AUTOMATION, SUPERSONICS, FISCHER.
In conclusion, with JMAIIE jewellery manufacturing technology segment was given the importance it deserved. It was a dedicated effort to showcase and promote the machinery and allied segment. JMAIIE not only showcased the latest technology, but also was driver in creating awareness for jewellery industry to adopt the latest in innovative technology to be a global player.
“I am grateful to the wholehearted support from the industry.I thank the exhibitors, visitors, media and all who contributed to the success from JMAIIE.With the support of all we are certain JMAIIE will be bigger, better and more constructive”, said Kranti Nagvekar, Founder KNC Services
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