JB Insights
WGC releases ‘India Gold Market – Reform and growth’

The World Gold Council (WGC) has published a new report titled ‘India Gold Market – Reform and growth’. The report explores the key factors that shape India’s gold demand and supply, as well as the challenges and opportunities for the future. The new report covers various aspects of India’s gold market, such as: The drivers of Indian gold demand, jewellery demand and trade, jewellery market structure, gold investment market and financialisation, bullion trade, gold refining and recycling, and gold mining in India.
In the report foreword, Juan Carlos Artigas, Global Head of Research, World Gold Council, said: “In 2017 we produced “India’s Gold Market – evolution and innovation’. A lot has changed since that report was published. This compendium of updated reports delves deeper into key factors that underpin India’s position as the second largest gold consumer in the world: it studies the drivers of gold demand and the perception of consumers; it examines the new investment landscape: and it considers the complex issue of gold supply.
“Few of the global events that have rocked societal and geopolitical stability could have been imagined when our 2017 report was published. That India has had to adapt is not surprising, but the rate at which change is happening in the country is, arguably, unprecedented.
“Despite – or perhaps because of – macroeconomic uncertainties, India’s population resolutely turns to gold. Weddings and festivals are key drivers of gold demand and the country is one of the world’s largest bar and coin markets. There is no doubt that gold retains prominence in the social and financial life of many Indians, both urban and rural.
“The years ahead will present challenges. But rather than thinking them onerous, we believe there is tremendous opportunity for gold. Regulation of India’s jewellery industry has already made huge strides in building consumer trusts. If new export markets can be developed, the current fragile platform – 90% of jewellery exports go to just five countries – will be diluted. More accessible banking offers a possibility to reach investors who have long understood gold’s safe-haven qualities but now find themselves negotiating a plethora of choice. And in the longer term, the Gold Monetisation Scheme, proposed legislative changes in the mining industry, and resolution of recycling traceability issues may reduce India’s reliance on imported gold.
“As we look ahead with optimism, the insights in this report will help us ensure that gold retains or even increases its relevance to India’s economy – generating further employment and continuing to play its roles as an adornment and an effective portfolio diversifier and hedge against inflation

JB Insights
Why a Natural Diamond Solitaire transcends the 4Cs

by Jignesh Mehta – MD & Founder, Divine Solitaires
In a world of transient trends and mass-produced possessions, there remain a few timeless treasures that carry a value far beyond their material worth. A natural diamond solitaire is one such enduring symbol — an extraordinary gift of nature that offers more than just aesthetic appeal or technical excellence. It represents emotion, legacy, and an investment destined to shine through generations.
While the classic 4Cs — Cut, Clarity, Colour, and Carat — have long been the benchmarks of diamond selection, today’s discerning consumers are seeking more. Conscious buying behaviours and evolving consumer preferences are redefining luxury, and in this dynamic environment, the natural diamond solitaire continues to hold a singular, unassailable allure.
Emotional and Legacy Value: A Diamond Beyond Compare
A diamond purchase is rarely an impulse. It is often tied to significant personal milestones — engagements, anniversaries, or achievements that mark new beginnings. Increasingly, consumers are choosing solitaires not only to celebrate relationships but also to honour their own journey. Be it career milestones, personal growth, or financial independence, the emotional resonance attached to a solitaire makes it a cherished possession.
Legacy gifting is another rising trend. Families are investing in solitaire diamonds not merely as heirlooms but as financial assets for the next generation. These stones carry the dual value of sentiment and security, ensuring the bond of familial love endures alongside wealth preservation.
At Divine Solitaires, we have observed a deepening of this emotional connection over the years, as buyers seek possessions with meaning, permanence, and personal significance.
Light, Precision, and the Art of Brilliance
A diamond’s true magic lies not in its size but in the way it interacts with light. Its brilliance, fire, and scintillation, collectively termed as light performance which determine its visual splendour. Every cut, every facet, and every angle contribute to this captivating play of light.

At Divine Solitaires, we use advanced optical analysis to guarantee that every diamond meets the highest standards of light performance. Going beyond the conventional triple excellent cut, each of our stones showcases the perfect 8 Hearts and 8 Arrows pattern — a hallmark of flawless symmetry, alignment, and proportion that maximises sparkle under every light and setting.
Integrity in Certification and Grading
For the modern luxury consumer, fewer but finer possessions define true indulgence. Precision, authenticity, and transparency have become non-negotiable expectations. Divine Solitaires ensures that every solitaire undergoes a rigorous 123 parameters quality check process aligned with the highest global standards.
Our commitment to trust is further reinforced through detailed quality certification and India’s first-ever Nationwide Standard & Price Index for solitaires. This pioneering initiative brings unprecedented structure, consistency, and credibility to solitaire pricing — offering buyers the reassurance of lasting value and resale integrity.
The Unreported Factors:
Certain diamond characteristics like Hearts & Arrows, Luster, Overtones, Light Performance remain unseen to the untrained eye but significantly influence both aesthetic appeal and investment value. Excessive fluorescence, for example, can cause a diamond to appear hazy under UV light, while internal graining may affect its visual purity.
At Divine Solitaires, our meticulous curation process excludes diamonds with such imperfections. Our selection process ensures that every solitaire we offer upholds the highest standards of quality and educating consumers along the way about these finer, often overlooked nuances of diamond selection.
A Symbol in Beauty, Meaning, and Legacy
A Divine Solitaires diamond is more than an ordinary diamond. It is a symbol of technical brilliance, ethical assurance, and enduring emotional significance. Every stone is a promise to shine not just in the light, but through the memories, milestones, and moments that shape a lifetime.
As the world of luxury evolves, one truth remains: a natural diamond solitaire will always transcend its 4Cs, holding its place as an emblem of beauty, meaning, and legacy.
JB Insights
Be a cut above with Lab-Grown Diamonds
By Nikita Prasad; Head of Design & Co-Founder – GIVA

Diamonds have always symbolised elegance and luxury. Haven’t they captivated us all with their brilliance and the shine in all those love stories? We usually see the heroine blushing over that classic round brilliant cut in the cinescreen. But that’s an old story!
We’re now seeing the revival of vintage and rare cuts in diamonds. Celebrities are opting for lesser-known yet stunning cuts. And in a world where trends change quickly, rare diamond cuts are much sought after. There is so much to choose too these days – from vintage-inspired to avant-garde styles, you can find the diamond cut that best suits your persona.
As Marilyn Monroe famously said, “Diamonds are a girl’s best friend,” and now, more than ever, these best friends come in all shapes and styles, ready to tell their own unique stories. Here we have listed out our rare cuts in diamonds that you need to know. Let’s dive in.
Big Rocks and the Big Stars
What’s driving celebrities to embrace these rare diamond cuts? It’s the allure of individuality and craftsmanship. Their bold choices redefine diamond trends, proving that brilliance comes in many forms. From exquisite solitaires to striking emerald and cushion cuts, these unique designs are setting a new standard for modern engagement rings. One notable mention would be Anushka Sharma’s elegant solitaire diamond ring, reported to be worth a crore, caught the attention of jewellery enthusiasts worldwide; setting trends in modern engagement ring choices. Each cut tells a story; one of elegance, opulence and deep appreciation of exceptional designs.
The Emerald cut – For the Royal in You
It is the ideal choice for those who desire a piece of jewellery that is both classic and contemporary, understated yet undeniably captivating. Characterised by its rectangular shape with bevelled corners, this cut is a masterpiece of subtlety, designed to improve the diamond’s clarity rather than relying on excessive brilliance. Unlike more traditional cuts that emphasise sparkle, the Emerald cut showcases the diamond’s intrinsic beauty, allowing its inner character to shine through.
The allure of the Emerald cut lies in its step facets—wide, flat planes that cascade down the stone like a staircase. This unique structure allows light to enter the diamond in a more subdued, refined manner, producing a gentle, consistent glow rather than an explosive sparkle. Often associated with the glamour of the Art Deco era, the Emerald cut embodies the pinnacle of sophistication, drawing inspiration from architectural design and symmetry. It exudes a sense of timelessness and refinement, making it an enduring choice for those with a discerning eye for fine jewellery.
The Pear Shape – For the Discerning Few
Many celebrities have been spotted flaunting the pear cut diamond ring. This beautiful cut perfectly reflects her unique style, adding a touch of grace and timeless beauty to her engagement. The pear shape continues to be one of the most beloved and striking diamond cuts in the world of fine jewellery.
The Pear shape diamond, also called the teardrop shape, is an elegant cut that combines the brilliance of a round diamond with the elongated form of a marquise. It has a rounded end that tapers into a point, creating a graceful design that exudes sophistication and femininity.
And it’s the pear cut’s curves that makes the diamond’s sparkle even brighter. Its unique tapered design allows light to reflect beautifully, creating a stunning display of fire and brilliance. The elongated shape also gives the illusion of a larger stone, making it perfect for those who want a bigger diamond at a lesser price tag. One major benefit of the pear shape is its versatility. It looks great in many settings, from solitaires to toi et moi, making it a timeless choice. Its elongated form is flattering on many hand shapes. The asymmetry of the pear shape adds a modern touch, making it a refreshing alternative to traditional cuts.
Diamonds have always been symbolic, a metaphor even for being your best, just like how a stone is polished and cut to become a brilliant diamond. It has also become a canvas for self-expression too. And these rare diamond cuts allow the wearer to showcase their unique persona in the most understated way possible. So go ahead, your perfect and rare diamond cut is out there – waiting to tell your sparkling story.
JB Insights
Trust, Transparency, and Trade: A Retailer’s Guide to Selling Gemstones
By Ramit Kapur: MD, Gemological Science International (GSI) India

A gemstone sale is more than just a transaction; it’s a promise. Customers seek not just beauty but the confidence that what they’re buying holds real value. In an era where gemstones are treated, enhanced, and sometimes even created in laboratories, having the right knowledge isn’t just an advantage; it’s a retailer’s greatest asset.
A well-informed retail team is an empowered one. Understanding gemstone treatments, origins, and certifications isn’t about being burdened with extra responsibility; it’s about enhancing your expertise, making confident sales, and strengthening customer trust. Because at the heart of this business is one simple truth: when retailers lead with knowledge, they lead the industry.
The Truth About Gemstone Treatments
Not all gemstones reach the market in their natural state. Many undergo treatments to improve their color, clarity, or durability, and any treatments and enhancements done, must be disclosed.
Some treatments, like lead-glass filling in rubies, fundamentally alter the gemstone’s structure and require clear disclosure. Others, such as the traditional heat treatment of sapphires, are widely accepted in the industry but still demand transparency. Understanding these nuances enables retailers to sell with confidence, ensuring customers make informed purchases built on trust.
For example, emeralds are naturally filled with inclusions, making fracture-filling with oil or resin a common practice. While this enhances clarity, knowing the type and extent of filling ensures that customers understand how their gemstone will age over time. While an oil-filled emerald may gradually lose its enhancement over time, a resin-filled one may require extra care to avoid exposure to heat or chemicals. Communicating these details not only adds credibility but also ensures customers can enjoy their gemstones for years to come.

Heat treatment in corundum, particularly rubies and sapphires, is a widely accepted enhancement, but its impact varies. A simple heated label doesn’t reveal the full extent of modification. Residues left in healed fractures or surface-reaching cavities can indicate the intensity of treatment, ranging from minor enhancements with little visible impact to significant alterations affecting transparency and overall appearance.
To assess this, the Thermal Enhancement (TE) scale categorizes heat treatment levels, while surface-reaching cavities are further classified based on residue presence, from minimal traces to substantial filling that influences value. Understanding these factors allows retailers to provide clarity and confidence in their sales, ensuring customers appreciate both the beauty and integrity of their gemstones.
This level of classification is not just for high-value stones; modern testing methods now apply to even melee-sized and mounted gemstones. With precise analysis, retailers can confidently present each gemstone’s journey; from its formation to the enhancements it has undergone, ensuring customers feel well-informed and assured in their purchase.
The Power of Origin and Storytelling
Geographic origin is one of the most significant differentiators and selling point when it comes to gemstones.
Sapphires from Kashmir, Myanmar, Sri Lanka, and Madagascar are among the world’s finest, prized for their rich color and saturation. Their rarity, history, and distinct hues shape customer preference. Kashmir sapphires, known for their scarcity, have adorned royal collections, while Sri Lankan sapphires, like the famed Blue Belle of Asia, boast a legacy of luxury. Similarly, Burmese rubies are revered for their deep “pigeon blood” red, and Colombian emeralds for their unmatched green intensity; each origin adding value and prestige.
A gemstone’s origin adds depth, character, and history, making it more than a purchase; it’s a story. Retailers who weave these narratives into their sales approach don’t just sell gemstones; they offer a legacy that resonates with the buyer.
Lab-Grown, Natural, or Imitation? A Retailer’s Advantage
Lab-grown gemstones are often misunderstood, but they are not “fake.” They are created in a controlled environment, and they possess similar physical, chemical and optical properties as their natural counterparts with differences in growth structure. Imitations, however, simply look like real gemstones without possessing their intrinsic properties; like a red glass stone mimicking a ruby.
By understanding these distinctions, retailers can offer customers choices rather than confusion. A customer who seeks affordability and sustainability might be drawn to a lab-grown gemstone, while another looking for rarity will appreciate a natural, untreated gem. Knowledge empowers retailers to guide buyers toward the best fit for their needs, ensuring a sale that feels both personal and professional.
Precision in Terminology: A Game-Changer for Retailers
The way a gemstone is described can shape both perception and value, making precise terminology essential in building credibility and avoiding misunderstandings.
For instance, a natural gemstone forms without human intervention and remains untreated, whereas a genuine gemstone is real but may have undergone enhancements.
Similarly, while heated and treated are often used interchangeably, not all treated gemstones have been heated; some may be clarity-enhanced, fracture-filled, or color-altered through other processes.
Even terms like synthetic and lab-grown need careful distinction, as both refer to man-made stones but carry different consumer perceptions.
A retailer fluent in these nuances isn’t just selling a product; they’re building confidence in their expertise. In an industry where trust drives sales, choosing the right words can be just as impactful as choosing the right gemstones. This expertise not only reassures buyers but also strengthens customer relationships, ensuring repeat business and long-term credibility.

Choosing the Right Certification: One Size Does Not Fit All
Certification is no longer just about verifying authenticity; it’s about making a retailer’s life easier and enhancing the buying experience. Different types of jewelry demand different types of reports, and offering the right format ensures convenience for both retailers and customers.
A comprehensive fusion report is ideal for fusion jewelry, where a single document covering both Polki and gemstones simplifies transactions rather than managing multiple certificates.
For prized gemstones, origin reports add value, helping customers appreciate the significance of a Kashmir sapphire or a Burmese ruby by officially documenting its provenance.
Some buyers prefer pocket-sized reports, offering quick and accessible verification, while others may benefit from digital reports with QR tags, allowing instant access to certification anytime, anywhere; streamlining inventory management and boosting customer confidence.
The key is flexibility; certification should not only authenticate and disclose treatments and enhancements, if any but also support sales, making it easier for retailers to educate, assure, and elevate the overall shopping experience.
In today’s fast-moving gemstone industry, access to information is no longer a challenge, but expertise remains the true differentiator. Treatments will advance. Lab-grown diamonds will become more refined. Consumer expectations will rise. But one thing will remain constant: retailers who embrace knowledge and transparency will always lead. Because at the end of the day, this business isn’t just about gemstones. It’s about trust.
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