National News
VAJRA INDUSTRY RESEARCH AND ACADEMIC MEET (VAIRAM) 2025 organised by GJEPC, IIT Madras inaugurated in Chennai
The Vajra Industry Research and Academic Meet (Vairam) 2025, a joint effort by GJEPC and InCent LGD IIT Madras, was officially introduced at the IITM Research Park in Chennai.
Madras at IITM Research Park, Chennai, was unveiled by Prof. V Kamakoti, Director, IIT Madras, Prof M S Ramachandra Rao, InCent-LGD, IIT Madras, Mr. Manish Jiwani, Co-Convener, LGD Committee, GJEPC and Mr. Sabyasachi Ray, Executive Director, GJEPC among other dignitaries and industry experts.
The workshop features several panel discussions. “Beyond Gems: Next-Generation Applications of OLab-Grown Diamonds” explores LGDs’ potential in various industries beyond jewellery. “Lab-Grown Diamond Growth and Treatment Recipes and Challenges” delves into the intricacies of CVD and HPHT methods. “Diamond Quality Checks and Certification” addresses the crucial need for standardised quality control for gems, jewellery, and seeds. “Lab Grown Diamond Machines and Processing Equipment” will highlight the importance of indigenous equipment manufacturing to bolster India’s self-reliance. The workshop has drawn 150 + participants from the industry.
Key Takeaways
Diamond Quality Checks & Certification:
- Advanced treatments challenge LGD grading and certification accuracy.
- Key challenges: ensuring grading accuracy, standardization, and detecting undisclosed synthetics.
- Emphasis on advanced testing methods, tech-driven grading, and industry consistency.
- Traceability of tested items is a major issue.
- LGDs are both supplementary and complementary to the diamond industry.
- Mimicking natural diamond growth patterns in LGDs remains a challenge.
LGD Growth & Treatment Recipes: Key Takeaways
- Increasing nitrogen in HPHT accelerates growth, benefiting gem-quality diamonds but not other industrial uses.
- Focus on optimizing growth parameters, impurity control, and enhancement for superior diamonds.
- Challenges include consistency, reducing defects, scalability, and reliance on high-purity raw materials.
- Future focus on refining processes, improving sustainability, and enhancing research-industry collaboration.
Diamond Quality Checks & Certification (Continued): Key Takeaways
Strengthening quality assurance frameworks is essential to ensure consumer trust globally.
Grading LGDs differs from natural diamonds, especially in color; secondary reference masters needed.
Labs must assess hue saturation and intensity, not just color for LGDs.
Clarity characteristics differ due to metallic inclusions in LGDs.
Color grading challenges arise in borderline clusters where AI struggles.
LGDs are cut for perfection, unlike natural diamonds, which are cut for weight retention.
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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